Latest update 09.01.2025
Webinar
Webinar: TDS Rates & Compliance in Income tax
OTU is organising a webinar on TDS rate and compliance in income tax on 21.01.2025 at 2 pm by CA Aman Rajput.
Update
DGFT-Public Notice No. 38/2024-25 dated 03.01.2025
DGFT issued Public Notice No. 38/2024-25 dated 03.01.2025 on Amendment in Para 6.06 of HBP, 2023
DGFT-Public Notice No. 39/2024-25 dated 05.01.2025
DGFT issued Public Notice No. 39/2024-25 dated 05.01.2025 to lay down the Procedure for export of certified organic products.
DGFT Notif. 47/2024-25 dt 02.01.2025
DGFT issued Notification No. 47/2024-25 dated 02.01.2025 to bring Amendment in Foreign Trade Policy 2023 to include Para 1.07A and 1.07B for consultation with stakeholders to seek views, suggestions, comments or feedback from relevant stakeholders, including importers /exporters/industry experts concerning the formulation or amendment of the Foreign Trade Policy.
DGFT Notif. 48/2024-25 dt 04.01.2025
DGFT issued Notification No. 48/2024-25 dated 04.01.2025 on Export of Wheat to Nepal through National Cooperative Exports Limited (NCEL)
DGFT Notif. 49/2024-25 dt 04.01.2025
DGFT issued Notification No. 49/2024-25 dated 04.01.2025 to make Amendment in Import Policy and Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022
Notification no. 6/2025 dated 06.01.2025- Income tax
CBDT issued notification no. 6/2025 dated 06.01.2025 whereby the Central Government specify that a Unit of International Financial Services Centre shall not be considered as buyer for the purposes of clause (a) of the Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) in respect of purchase of goods from a seller, subject to the certain conditions: –
GST Portal
Biometric-based Aadhaar Authentication functionality has been developed by GSTN. It has been rolled out in Rajasthan on 7th January 2025.
Article
Notice/ Order shall be mandatorily be served through post or electronic mode
The Hon’ble Madras High Court in the case of Udamalpet Sarvodaya Sangham allows the writ petition where it was held that Section 169 of the CGST Act mandates a notice to be served in person or by registered post or to the registered e-mail ID alternatively and on a failure or impracticability of adopting any of the aforesaid modes, then the State can, in addition, make a publication of such notices/ summons/ orders in the portal/ newspaper through the concerned officials.
Tax in Media
GST in Transition: A look back at 2024 and what’s ahead in 2025
In 2024, India’s Goods and Services Tax (GST) landscape has seen a transformative year, with several key amendments and policy changes that have shaped the economy and businesses alike. From smoother compliance processes to the introduction of new provisions aimed at enhancing tax revenue, the year has witnessed both challenges and significant milestones.
Gujarat GST dept raids coaching institutes, ‘finds Rs 7.49 crore in evasions’
The Gujarat State Goods and Services Tax (SGST) Department on Tuesday said it had raided 11 coaching institutes and found “evasions” to the tune of Rs 7.49 crore in preliminary investigations, with a total liability of around Rs 11.33 crore.
Budget 2025 should cut tax rates, raise income tax exemption to ₹5 lakh: EY
The Union Budget 2025-26 should prioritise giving tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from ₹3 lakh to ₹5 lakh and lowering tax rates, according to Ernst & Young India (EY India), a global consulting firm.
DGGI can now send takedown orders against online money gaming apps evading GST
An officer from the Directorate General of GST Intelligence (DGGI) headquarters can now send takedown notices to intermediaries to block online money gaming apps and websites that evade Goods and Services Tax (GST) under Section 79(3)(b) of the Information Technology Act, the government said in a notification on Monday.
MHI backs SIAM proposal for reducing GST on CNG-powered two wheelers
The ministry of heavy industries (MHI) has thrown its weight behind a proposal by Society of Indian Automobile Manufacturers (SIAM), supporting their request for a reduction in GST on CNG-powered two wheelers from the current 28 per cent to 18 per cent and then to 12 per cent in stages.
SGST officials recently uncovered tax evasion of Rs. 9.2 crore in a crackdown on pan masala and tobacco dealers in Ahmedabad, following specific intelligence inputs.
GST system is profoundly flawed, can be corrected without new legislations: Tamil Nadu minister
Tamil Nadu Minister P Thiaga Rajan on Saturday said the existing system to measure the Goods and Services Tax (GST) is ‘profoundly flawed’ and can be corrected by 20 different steps without needing any new legislations.
Ahmedabad schools served GST notices worth ₹15 crore
The Goods & Service Tax Department (GST) has issued notices to top international schools and private universities in Ahmedabad to pay a total of ₹15 crore under the Reverse Charge Mechanism.
Gems, jewellery sector urges govt to reduce GST to 1% in upcoming Budget
The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1% on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget.
Budget 2025: Why MF industry’s top wish is tax relief for debt funds
The Association of Mutual Funds in India (AMFI) has released a 15-point proposal for the Union Budget for the financial year 2025-26. It includes requests for the restoration of the long-term indexation benefit for debt schemes, which was removed in the Budget 2024, reinstatement of earlier tax rates on capital gains, and amendment of the definition of equity oriented funds to include fund of funds investing in equity overseas funds.
Customs duty cut on gold set to be reviewed
The government is reviewing customs duties on over two-dozen items, including gold, and may raise the levy on the yellow metal if it is found that the recent duty reduction triggered its consumption instead of achieving the stated policy objective of domestic value addition, two people aware of the development said.
GST Refund Course
Your view and suggestion welcome!
We understand that every taxpayer, tax professionals and even taxman need to have better insight about GST Refund. It is because that not only the taxpayer doing export-import have the refund applicability but to every taxpayer who mistakenly pay excess tax and struggle to get his money back from the revenue.
But, before we conduct the course, we wish to have your view and suggestion on how you want us to conduct this course.
Tentatively the course would be conducted in January 2025.
TDS Rate & related Income tax
- Changes w.e.f. 01.04.2025
- TDS Rates & Types of returns
- Nature of TDS notices
- How to reply to them
- Vodafone judgment
- Amazing Notes on TDS Rate Chart
Share this content:
Post Comment