A. Amendment
CBIC issued Notification no. 24/2024-Central Tax dated 09.10.2024 & Notification no. 25/2024-Central Tax dated 09.10.2024.
CBIC issued Notification no. 20/2024 – Central Tax dated 08.10.2024 to make further amendment in the Central Goods and Services Tax Rules, 2017.
CBIC issued Notification No. 65/2024-Customs (N.T.) dated 07.10.2024 for the Appointment of Common Adjudicating Authority i.r.o M/s. Penta Gold Limited.
B. Book
Beyond the Numbers : Work-Life Balance for Chartered Accounts
The Institute of Chartered Accountants of India (ICAI) published a book on WORK-LIFE BALANCE title “Beyond the Numbers : Work-Life Balance for Chartered Accountants”.
C. Tax in Media
Mahesh Langa, Gujarat-based journalist with The Hindu, arrested in alleged GST fraud case
Mahesh Langa, a Gujarat-based senior assistant editor at The Hindu, was on Tuesday morning placed under arrest along with three others by the Detection of Crime Branch (DCB). The development comes a day after 13 firms and their proprietors were booked for alleged input tax credit (ITC) fraud, based on a complaint filed by the Directorate General of GST Intelligence (DGGI).
Safari Retreats case: Govt mulls review plea
The government is considering filing a review petition against the Supreme Court’s verdict with regard to Safari Retreats that allows commercial real estate companies to claim input tax credit (ITC) on construction costs for their rental buildings. Sources familiar with the matter indicate this ruling could impact government revenue, resulting in a shortfall of nearly Rs 5,000 crore.
Man declares income of Rs. 9.6k, pays tax on Rs. 43.5L after US earnings added
Applying the tiebreaker test, ITAT, in the case of a person who is a tax resident of both India and the US, has held that income earned in the US was taxable in India.
As FM pushes for action on tax refund delays, CAs call for better I-T dept communication
After Finance Minister Nirmala Sitharaman drew the income tax (I-T) department’s attention to a taxpayer’s grievance over tax refund delay, chartered accountants say several of their clients too are affected.
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