06 Apr Income Tax Department enabled the Form 10IE for AY 2024-25 for filing on the income tax e-filing portal
The Income Tax Department has enabled Form 10IE for AY 2024-25 for filing on the income tax e-filing portal....
April 2024
06 Apr Delhi GST Department: Biweekly Registration Slots & Clarifications for CAs/Advocates
The Delhi GST Department recently issued Public Notice No. F. Circular/CRC/DT&T/2024/249-255 on April 04, 2024, addressing the process of GST new registrations....
06 Apr Entitlement to Interest Commences After Sixty Days from Refund Application Until Credited to Bank Account
In a significant ruling by the Hon'ble Delhi High Court, Raghav Ventures vs. Commissioner of Delhi [W.P.(C) NO. 12209 OF 2023 dated March 01, 2024]...
06 Apr GST Implications on Lump Sum Transfer Charges for Leasehold Rights
In a recent ruling by the Uttar Pradesh Authority for Advance Rulings (AAR), Remarkable Industries (P.) Ltd. sought clarification regarding the GST implications on lump sum upfront premium paid as transfer charges for leasehold rights....
05 Apr Delhi High Court Invalidates Demand Order Due to Lack of Recorded Personal Hearing
The Delhi High Court recently ruled on a GST case involving Electra Power Transmission Systems and the Commissioner of Delhi Goods and Service Tax....
05 Apr RBI defers implementing directions on exchange-traded forex derivatives to May 3
The Reserve Bank of India (RBI) has announced an extension of the deadline for implementing rules regarding exchange-traded forex derivatives to May 3, extending it from the previous deadline of April 5....
05 Apr Center Appears to Have Achieved Fiscal Year 2024 Gross Tax Objective
The year 2023-24 not only witnessed multi-year high tax buoyancy levels – mainly on the direct taxes front – but also higher level of compliance from taxpayers, and strict enforcement measures against tax evaders....
05 Apr State’s GST Department Witnesses 43% Decline in GSTIN Applications Following Introduction of Biometric Verification to Combat Fraudulent Billing
A notable development within the state's GST department reveals a substantial 43% decrease in the average monthly count of GSTIN (Goods and Services Tax Identification Number) applications since November 2023....
05 Apr CBDT Enables Filing of Commonly Used ITRs from April 01, 2024
The Central Board of Direct Taxes (CBDT) has introduced the option for taxpayers to submit their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (pertaining to the Financial Year 2023-24) starting from April 01, 2024....
04 Apr Audit wing of SGST Authority shall keep all proceedings in abeyance if the subject matter is pending before the CGST Authority
The Audit division of the State Goods and Services Tax (SGST) Authority is mandated to suspend all actions if a matter is pending before the Central Goods and Services Tax (CGST) Authority...