Latest update 15.07.2024
A. Update
| Sr. no. | Category | Subject | In brief | In detail / Reference |
| 1 | GST | Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports | GSTN issued advisory on 14.07.2024 regarding refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports. | click here to read more |
| 2 | GST | GST Portal downtime 15.07.24 | GSTN is enhancing their services on the GST portal on 15th July’24 12:00 AM onwards | click here to read more |
B. GST Notes
| Sr. no. | Category | In brief | Authored by | In detail / reference |
| 1 | GST Notes | Chapter -4 – IGST Act, 2017 – Q&A format 1) What is inter-state supply? 2) How imported goods are treated in GST? Likewise there are 5 slides under this chapter | CMA Anil Sharma | Go to Notes |
C. Tax in Media
| Sr. no | Category | In brief | In detail / Reference |
| 1 | GST | GST on corporate guarantee needs clarification: Experts The recent goods and services tax (GST) notification has clarified that the 1% charge on corporate guarantees between related parties applies yearly, not for each transaction. | click here to read more |
| 2 | Income tax | Net direct tax collections grows 24.07% touches Rs 5.74 lakh crore till July 11 The Central Board of Direct Taxes on Friday released the data on Direct Tax (DT) collections till July 11, 2024, for FY 2024-25. The net direct tax collections have increased by 24.07% to Rs 5.74 lakh crore. In FY23, the net collections stood at Rs 4.80 lakh crore. | click here to read more |
| 3 | Income tax | Mumbai: ED Attaches IPS Officer’s Husband’s Properties In Rs.263 Crore Income Tax Refund Fraud Case The Enforcement Directorate (ED) Mumbai has provisionally attached the Malabar Hill flat of an IPS officer’s husband, Purushottam Chavan, in a money laundering case linked to the Rs 263 crore Income Tax Refund (ITR) fraud case. | click here to read more |
| 4 | Income tax | FADA seeks vehicle depreciation benefits for income tax payers Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base but also ignite automobile demand. | click here to read more |
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