Latest update 17.03.2024

Tariff Notification No. 22/2024-Customs (N.T.) in respect of Fixation of Tariff Value for Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Central Board of Indirect Taxes & Customs hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001. Read more

I-T dept busts network of money changers in GST ITC scam

The Income Tax Department has unearthed a network of 232 fake money-changing companies and detected tax evasion amounting to Rs.1,000 crore through fraudulently generated Input Tax Credits under the Goods and Services Tax (GST) regime. Read more

E-way bill generation in Feb new second all time high, collection to get boost

E-way bill generation surged to 9.73 crores in February. This is the highest in four months and also the new second all-time-high generation. This is expected to have a positive impact on GST collection in March. February figures are also important as the month had only 29 days. Read more

Prohibition for import of ferocious breeds of dog-reg

CBIC issued Instruction No. 05/2024-Customs regarding prohibition for import of ferocious breeds of dog. Read more

Record objections in GST case, HC tells casino firms

The High Court of Bombay at Goa directed casino companies to record their objections and join the adjudication process in the GST matter. Read more

Press Trust of India specified as news agency for the purpose of section 10(22B) of Income-tax Act

CBDT issued Notification No. 32/2024 dated 15.03.2024 to specify the “The Press Trust of India Limited, New Delhi” as a news agency set up in India solely for collection and distribution of news, for the purpose of the clause (22B) of Section 10 for two assessment years 2022-2023 to 2023-2024. Read more

Northeast among biggest gainers of GST, says Finance Minister Sitharaman

Finance minister Nirmala Sitharaman said north-eastern states have remained the Modi government’s centre of focus and they have been among the biggest beneficiaries of the goods and services tax (GST) regime that has pushed up their indirect tax collections. Read more

Imposition of minimum import price on synthetic knitted fabrics

DGFT issued Notification No. 77/2023 dated 16.03.2024 imposing minimum import price on synthetic knitted fabrics up to 15.09.2024. Read more