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The figures of Direct Tax collections for the Financial Year 2022-23, as on June 16, 2022 show that net collections are at Rs.3,39,225 crore compared to Rs. 2,33,651 crore over the corresponding period of the preceding year, representing an increase…
The Insolvency and Bankruptcy Board of India (IBBI/Board) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 (CIRP Regulations) on June 14, 2022. The amendment provides the operational creditors to furnish…
In line with CBDT’s policy and commitment towards providing enhanced taxpayers’ services and reduce taxpayers’ grievances, CBDT has issued revised Instruction for the constitution and functioning of Local Committees to deal with taxpayers’ grievances arising out of high-pitched Scrutiny Assessment…
Commercial Taxes Department identified 3.25 lakh dealers as not having paid a single rupee as GST during the year 2021-2022. Similarly, about 1.94 lakh dealers who paid less than Rs. 1000 as GST for the entire year were also identified.…
New Guidelines for Central Sector Scheme “Promotion of MSMEs in North Eastern Region and Sikkim” for enhancing productivity and competitiveness The Central Government has approved the New Guidelines of Central Sector Scheme “Promotion of MSMEs in North Eastern Region and…
The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of goods) and cess is ₹10,502 crore (including ₹931 crore collected on import of goods). The government has settled ₹27,924…
The Government of India has released the entire amount of GST compensation payable to States up to May 31, 2022 by releasing an amount of Rs. 86,912 crores. This decision was taken to assist the States in managing their resources and…
A meeting was held between Sh. Pranab Kishore Das, ACS and FCR & Sh. Anurag Rastogi, ACS (E&T) to discuss the issue relating to evasion of GST in renting of immovable property, other than those rented out for residential purposes.…
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has detected a case wherein total ITC of more than Rs 160 crore has been utilized and passed on by network of nonexistent & fake firms in tandem…
The Excise and Taxation Department hosted a conference to discuss the re-engineering of internal processes to improve taxpayer experience of GST taxpayers and the launch of Haryana GST return Scrutiny Manual. The meeting was chaired by Sh. Dushyant Chautala, Hon’ble…