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The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain,…
Income Tax Department commenced a Search & Seizure operation in the case of some Cooperative Banks, in the State of Karnataka, on 31.03.2023. These cooperative Banks have been found to be engaged in routing of funds of various business entities…
The provisional figures of Direct Tax collections for the Financial Year (FY) 2022-23 show that Net collections are at Rs. 16.61 lakh crore, compared to Rs. 14.12 lakh crore in the preceding Financial Year i.e. FY 2021-22, representing an increase…
The gross GST revenue collected in the month of March 2023 is Rs.1,60,122 crore
Sugarcane juice is not an agricultural produce. Also, it is neither a fruit nor a vegetable, so sugarcane juice will attract GST at the rate of 12 per cent, according to the UP. Read more at : business line
The Government is using data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly. This was stated by the Union Minister of State for Finance Shri…
An authorized signatory – Manager-Finance & Accounts of Chinese origin company M/s. Oppo Mobiles India Private Limited has been arrested by CGST Bhiwandi Commissionerate, for fraudulent availment of ITC amounting to Rs.19cr on fake invoices. The officers of CGST Bhiwandi…
The Income Tax Department has launched a Mobile app, namely, ‘AIS for Taxpayer’ to facilitate taxpayers to view their information as available in the Annual Information Statement (AIS) / Taxpayer Information Summary (TIS). ‘AIS for Taxpayer’ is a mobile application…
The Government has taken a number of measures in recent years to maintain continuity and stability of taxation, further simplify and rationalise various provisions to reduce the compliance burden, promote the entrepreneurial spirit and provide tax relief to citizens. This…
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) will commemorate 40 years of glorious and successful journey here tomorrow. Hon’ble Mr. Justice Dinesh Maheshwari, Judge, Supreme Court of India, will be the Chief Guest of the Inaugural Session and…