The Ministry of Finance has notified that the attachment of property during PMLA investigation to be valid till 365 days instead of 90 days from 20.03.2019. As per the Notification issued last day said that...
The Ministry of Finance has notified the Creation of the National Bench of the Goods and Services Tax Appellate Tribunal ( GSTAT ) at New Delhi with effect from 14th March 2019. Earlier, GST Council...
Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, 1961 to Rs. 20 lakhs. Shri Santosh Kumar Gangwar, Minister of State for Labour...
The States, except a few including Kerala and Telangana, and two Union Territories have raised the GST threshold limit for mandatory registration for GST for goods suppliers. According to information available with the Finance Ministry,...
In pursuance of decision in the 32nd Meeting of GST Council held on 10th January 2019 at New Delhi, a Group of Ministers (GoM) on issues relating to lottery has been constituted. The ‘GoM for Lottery’ shall...
With a view to curbing the tax evasion, the finance ministry has barred the businesses who do not file GST returns from generating e-way bills, Financial Express reported. The Ministry has barred e-way bill generation...
The Indian Government has made significant strides in the last 4 years in taking India to new heights in terms of the welfare of the citizenry, the overall structure& growth of the economy, and creating...
The Ministry of Finance has clarified that GST cannot be leviable on the sale of flats with a completition certificate. It is brought to the notice of buyers of constructed property that there is no...
Till date, the Goods and Services Tax ( GST) Council has taken 918 decisions related to GST laws, rules, rates, compensation and taxation threshold etc. More than 96% of the decisions have already been implemented...
The Finance Ministry has clarified that, Composition Dealers need not furnish data in serial number 4A of Table 4 of FORM GSTR-4. It has been brought to notice that doubts regarding the manner of filing the quarterly return...
The anti-profiteering watchdog may get an extension beyond its original two-year mandate as the Government thinks that it needs to function for a longer period in light of the frequent rate changes in the current GST...
The Finance Minister, Arun Jaitley, while addressing a Press Conference in New Delhi today announced reduction in Central Excise Duty Rs.1.50/ litre in case of both petrol & diesel while OMCs to absorb cut of...
The Ministry of Finance has announced that there will be a computer-based exam for all the GST Practitioners for which they can apply from 25th September. The National Academy of Customs, Indirect Taxes and Narcotics...
In a recent move, the Central Board of Indirect Taxes and Customs (CBIC) has relaxed the norms for re-importing electronic goods such as TV and mobile handsets for repair work. A notification issued by the...
The Finance Ministry has launched One-Time scheme to waive off late fee payable for delayed filing of Form GSTR-1. The Finance Ministry said in the press release that, “the number of taxpayers who have filed FORM...
Considering the revenue fall in the recent times, the Central Board of Indirect Taxes and Customs ( CBIC ) has decided to remove approximately 12 lakh assessees who have fallen off the tax ma, from...
The Union Minister, Shri Arun Jaitley today resumed the charge of the Ministries of Finance and Corporate Affairs after a gap of more than three months. After resuming the charge, the Finance Minister Shri Jaitley held...
In view of the disruption caused due to severe floods in Kerala, Mahe (Puducherry) and Kodagu (Karnataka), the Central Government has extended the due dates for filing of the following GST returns by taxpayers registered...
The Finance Ministry has invited comments from Stakeholders and General Public on Proposed Amendments to Income Tax Rules, 1962 by 4th September 2018. The Income Tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application...
The Ministry of Women and Child Development has requested Ministry of Finance for amendment to section 64 of the Income Tax Act, 1961 for not including income arising from the asset transferred for inadequate consideration...
As part of the continued focus of the Government of India to liquidate pending GST refunds, the Central Board of Indirect Taxes and Customs (CBIC) has successfully concluded the Third Refund Fortnight from 16th July, 2018...
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