The panel constituted by the Central Government for re-drafting direct tax code sought for a three-month extension from the Finance Minister Arun Jaitley. The committee was formed to submit its recommendations on the drafting of...
The Government may take a lenient approach on the taxpayers under the GST towards the businesses till the Loksabha elections. The authorities will, however, continue to collect data on transactions from various sources, which will...
On Saturday, the Ministry of Finance has increased the customs duty to 200 per cent on all goods imported from Pakistan, following revocation of the ‘most-favoured nation’ status in the aftermath of the Pulwama terror...
The Central Board of Direct Taxes ( CBDT ) has constituted a committee to examine the suggestions and issues on litigation management emerging from Judicial Conference. As per the discussion held during Judicial Conference held...
Union Minister Piyush Goyal temporarily assigned charges of Finance Minister of Finance and Corporate Affairs in addition to existing portfolios. Union Minister Arun Jaitley, 66, had left for the United States on January 13 for...
The GST Council, in its 32nd meeting held at New Delhi, has decided to extend the Last Date for passing the examination for GST Practitioners till 31.12.2019. This is for those GST Practitioners who have...
The Investigation Wing working under the Ministry of Finance has detected a scam of Rs 29,088 crores in 1,835 tax cases in this financial year from April to October 2018, a senior official said Wednesday....
The Central Government has appointed Justice Pradipkumar Premshankar Bhatt, Former Judge, High Court of Gujarat, as President, Income Tax Appellate Tribunal. The appointment is valid with effect from the forenoon of 24th October, 2018 and...
The Central Government today announced that the next exam for the GST Practitioners will be held on 7th December 2018. The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct...
The Central Government today extended the due date for filing return GSTR 3B for the month of September to 25th October. “In view of the said apprehensions and with a view to giving some more...
The candidates who have applied for GST Practitioners shall pass the exam conducted by NACIN before 31st December, 2018 for confirmation of their enrollment, the Finance Ministry said in a statement. National Academy of Customs, Indirect...
The Task Force on Shell Companies has met 8 times since its constitution and has taken pro-active and coordinated steps to check the menace of shell companies. The ‘Task Force’ was set up in February, 2017...
The Ministry of Finance today denied the reports saying that farmers would be required to take registration and pay GST of 18% when they lease out their land. The Government in a Statement issued Today...
The Department of Revenue’s Tax Research Unit (TRU) has recently clarified certain issues raised by Confederation of Real Estate Developers’ Associations of India (CREDAI) to enable availing 8% Goods & Services Tax ( GST ) on...
A Senior Financial Official from the Finance Ministry reportedly confirmed that free banking services like cheque book issuance and ATM withdrawals are likely to remain out of the ambit of the Goods and Services Tax...
The Ministry of Finance, on Tuesday, appointed officers to carry out search and seizure under the newly pronounced Fugitive Economic Offenders Ordinance. As per a Notification issued by the Government on 24th April, officers not...
The Income Tax department has saved Rs 977.5 crore on postage cost since 2013 as it started sending emails instead of postal. While confirming the estimates, the Finance Ministry said that the number of emails...
The amendment to the Prevention of Money Laundering Act ( PMLA ) made vide Finance Act 2018 regarding the property held outside Indian territory is applicable with effect from 19th April 2018, said a Notification...
The Central Board of Indirect Taxes (CBIC) has decided to give a fresh opportunity to certain taxpayers who could not file TRAN 1 on or before 27.12.2017 due to technical glitches in the official portal,...
The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows: Situation: -Consider a situation where...
The Ministry of Finance announced that the second phase of the Electoral Bond Scheme, 2018, a new scheme for ‘transparent’ political funding, from 2nd April to 10th April 2018. In the 2nd Phase of sale,...
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