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The CGST Delhi West Commissionerate under CGST Delhi Zone, upon analysis of an entity under investigation as part of Special Drive against fake registrations, found multiple entities registered on the same address wherein the said address was found existent during…
The DGGI Gurugram Zonal Unit officials have also detected a modus operandi prevalent in the trade of supply of mobile phones wherein mobile phones are purchased from grey market without any underlying invoice or from online e-commerce platforms in the name of various unregistered individuals.
Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC) along with other Members of the Board released the National Time Release Study (NTRS) 2023 report.
The Union Government has released 3rd instalment of tax devolution to State Governments amounting to Rs.1,18,280 crore on 12th June, 2023, as against normal monthly devolution of Rs.59,140 crore. One advance instalment in addition to the regular instalment due in June 2023…
In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for issue of shares within the ambit of section 56(2)(viib) of the Income-tax Act, 1961(the Act), which provides that if such consideration for…
Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it has been decided that any payments by an…
Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the State of West Bengal. The business group is controlled by a person with an active political background. Search was also…
During the recent review of the performance of the Central Board of Indirect Taxes & Customs (CBIC), Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman had given directions to roll out an Automated Return Scrutiny Module for GST…
The Finance Minister directed CBIC to introduce its automated GST return scrutiny by next week and to implement an action plan to increase the taxpayer base through enhanced use of technology.
Inter alia, the Finance Minister reviewed the following subjects: During the review meeting, the Finance Minister was apprised about the impact of the following initiatives: Smt. Sitharaman was also apprised of the fact that the Personal Income Tax (PIT) to…