A. Amendment
GSTN Advisory on the Introduction of E-Way Bill (EWB) for Gold in Kerala State
It is hereby informed that a new option for generating E-Way Bills (EWB) for gold has been introduced in the EWB system, effective from January 20, 2025. This feature has been made available to facilitate taxpayers in Kerala State to generate EWB for goods classified under Chapter 71, excluding Imitation Jewellery, for intrastate movement, in compliance with the notification issued by the Government of Kerala.
GSTN Advisory – Hard – Locking of auto-populated liability in GSTR-3B
GST issued advisory on hard locking of liability in GSTR-3B. Read more.
GSTN is enhancing services on the GST portal on 28th Jan’25 12:00 AM onwards. GST Portal services will not be available until 28th Jan’25 07:00 AM. The inconvenience caused is regretted.
DGFT-Public Notice No. 43/2024-25 dated 27.01.2025
DGFT issued Public Notice No. 43/2024-25 dated 27.01.2025 to make an Amendments to Para 2.91 & 2.93 of HBP, inline with the implementation of the eCertificate of Origin System.
B. Tax in Media
Insurers expect tax benefits, concessions for healthcare in Budget
With targeted reforms and incentives like the reduction of GST on Health insurance, we can unlock the true potential of insurance, ensuring wider coverage, encouraging innovation, and building a secure future for every individual and business, Universal Sompo General Insurance Managing Director and CEO Sharad Mathur said.
India’s ICAI suggests joint taxation system for married couples
The Institute of Chartered Accountants of India (ICAI) has proposed a change to the country’s tax framework by introducing a joint taxation system for married couples.
Budget 2025: Govt may replace Income Tax Act, 1961 with THIS new law! What it means for taxpayers
Finance Minister Nirmala Sitharaman will present the second full-fledged budget of the Modi 3.0 government on February 1. The upcoming Union Budget 2025-26 is being eagerly anticipated, with the middle class hoping for significant tax reliefs.
What is AIS in income tax return filing and how is it important for taxpayers?
The Annual Information Statement (AIS) is a vital document introduced by the Income-Tax Department. It provides taxpayers with a detailed view of their financial transactions during the financial year, thereby ensuring greater transparency and ease in tax compliance.
Budget 2025: Top 10 income tax changes that middle class wants from FM
As the Union Budget 2025 draws near, there’s a growing buzz about potential changes in Income Tax policies for the common man. Experts have offered several recommendations focusing on significant changes to personal income tax, specific tax areas like EVs and crypto, housing benefits, savings incentives, and more. These proposed reforms aim to provide relief to the taxpayers.
Budget 2025: Time to revamp personal taxation, reward taxpayers
As Budget 2025 draws near, India’s personal finance ecosystem is ready for a transformation. Despite boasting more than 7.5 crore individual taxpayers, with income tax forming a significant part of government revenue, this lot is neglected and reforms to incentivise compliance have become overdue for almost all categories of taxpayers.
Govt proposes more sops for scrapping vehicles with BS-II, older emission standard
With an aim to get rid of high-polluting vehicles, the transport ministry has proposed to double the rebate up to 50 per cent in one-time tax on purchase of new vehicles after scrapping those with BS-II and earlier emission standards. At present, a discount of 25 per cent in Motor Vehicle tax is provided on purchase of a new vehicle after scrapping old personal vehicles, while the rebate is capped at 15 per cent in case of commercial vehicles.
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