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Certain instances of mismatch of information as filed by the taxpayer and as available with the Income Tax Department have come to the notice of the Department as part of its routine exercise of verification of data.
CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the AY 2024-25 from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers to file their Returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards.
Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at Rs.1.78 lakh crore, with a 11.5% year-on-year growth.
CBIC makes amendments in the notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
Revenue Secretary, Shri Sanjay Malhotra today virtually laid the foundation stone for the New GST Bhawan and Residential Quarters at Hyderabad for officers and staff of CGST and Customs, Hyderabad Zone under Central Board of Indirect Taxes and Customs (CBIC).…
MHA decides to extend financial support of 50% on GST on purchase of goods from Kendriya Police Kalyan Bhandar as a welfare measure, the decision to be effective from 1st April 2024. The Ministry of Home Affairs has decided to…
The Competition Commission of India (CCI) has notified three regulations viz. THE CCI (SETTLEMENT) REGULATIONS, 2024; THE CCI (COMMITMENT) REGULATIONS, 2024; THE CCI (DETERMINATION OF TURNOVER OR INCOME) REGULATIONS, 2024 and THE CCI (DETERMINATION OF MONETARY PENALTY) GUIDELINES, 2024 on 06.03.2024. These regulations and guidelines were issued…
The Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, started an investigation in October 2023 into a large syndicate that fraudulently claimed Input Tax Credit (ITC) by way of fake billing. The investigation conducted so far has…
CGST Mumbai Zone, CGST Navi Mumbai Commissionerate arrested on 01.03.2024, the Head – Finance of a firm for supplying taxable service amounting to Rs. 492 Cr approximately without issuing any tax invoice and thereby indulging in the GST Evasion to the tune of approximately Rs 88 Crores.
Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the first-ever National Conference of Enforcement Chiefs of the State and the Central GST Formations, in New Delhi, today. The conference provided one more step towards facilitating understanding and…