Latest update 01.07.2024 – OnlineTaxUpdate

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Happy GST Day !

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Sr. No.	Category	Subject	In brief	In detail / Reference
1	Customs Circular	Circular No. 08/2024- Customs dated 30.06.2024	CBIC issued Circular No. 08/2024- Customs dated 30.06.2024 regarding Implementation of the Sea Cargo Manifest and Transshipment Regulations (SCMTR).	Click here to read more
2	Customs Notification NT	Notification No. 47/2024-Customs (N.T.) dated 30.06.2024	CBIC issued Notification No. 47/2024 – Customs (N.T.) on 30.06.2024 to further make amendments in the Sea Cargo Manifest and Transhipment Regulations, 2018.	Click here to read more

GST Webinar on “53rd GST Council Meet Recommendations & 7 years of GST by Speaker Mr. CA Shiva Roopa Ganesh scheduled on 01.07.2024 at 2:30 pm to 3:30 pm. We would be happy to have your presence. Register here

B. Notes

Sr. No.	In brief	crafted by	Reference
1	A Handbook on “Input Tax Credit (ITC) – An in-depth discussion”	The Institute of Cost Accountants of India (ICMAI)	Go to handbook

C. Tax in Media

Sr. No.	Category	In brief	In detail / Reference
1	GST	ICICI Prudential Life Insurance has received a GST notice of Rs. 365 crore, including interest.	Read more
2	Income Tax	Mr. Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department.	Read more
3	GST	The Court of the Enquiry Commissioner and Special Judge has ordered the Vigilance special cell to conduct further investigation into the allegations of amassing wealth against the former deputy commissioner of the State Goods and Service Tax (GST) department.	Read more
4	GST	Since the GST was rolled out seven years (7) ago, there has been a sizeable 134% rise in the number of new taxpayers. State commercial tax department data shows that active taxpayers have grown in numbers from 5.08 lakh on 01.07.2017, when the regime came into effect to Rs. 11.95 lakh currently.	Read more