The year of the pause: - How RBI maneuvered its policy in 2024
Posted Date : 18-Dec-2024 , 06:17:33 pm | Posted By CASANSAAR
The year of the pause: - How RBI maneuvered its policy in 2024
India's benchmark interest rate, held steady at 6.5% since late 2018, remains unchanged as inflation control remains a key focus. Despite a 5.4% GDP growth slump in Q2 2024, the RBI prioritizes disinflation efforts, citing persi...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 327
|
 |
Entry of RR No./eT-RRs in EWB system Post EWB-FOIS Integration
Posted Date : 18-Dec-2024 , 06:11:08 pm | Posted By CASANSAAR
Dec 18th, 2024
Subject: Guidance for Accurate Entry of RR No./eT-RRs following the Integration of E-Way Bill (EWB) with Freight Operation Information System (FOIS) system of Indian Railways.
Dear Taxpayers,
This advisory is being issued to inform you that the FOIS of Indian Rai...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 355
|
|
Error In Assessment of Income Tax Identified
Posted Date : 18-Dec-2024 , 11:05:34 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) uncovered widespread errors in income tax assessments, potentially costing the government ?5,728.8 crore. The CAG also highlighted significant tax evasion in the distilleries and breweries sector, leading to a revenue loss of ?12,781 crore and criticized the...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 312
|
|
GST Advisory on Updates to E-Way Bill and E-Invoice Systems
Posted Date : 18-Dec-2024 , 10:47:57 am | Posted By CASANSAAR
Dec 17th, 2024
GSTN is pleased to announce that NIC will be rolling out updated versions of the E-Way Bill and E-Invoice Systems effective from 1st January 2025. These updates are aimed at enhancing the security of the portals, in line with best practices and government guidelines.
2. Mul...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 413
|
|
CBDT launches campaign to intimate taxpayers on mismatch in ITR filed and AIS
Posted Date : 18-Dec-2024 , 09:31:59 am | Posted By CASANSAAR
The Income Tax department on Tuesday said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement (AIS) and income disclosed in ITRs for the financial years 2023-24 and 2021-22.
In a statement, t...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 587
|
|
MFN Status Suspension by Switzerland Not to Impact EFTA Trade Pact with India
Posted Date : 17-Dec-2024 , 07:19:06 pm | Posted By CASANSAAR
MFN Status Suspension by Switzerland Not to Impact EFTA Trade Pact with India
Switzerland's suspension of the Most Favoured Nation (MFN) clause in its Double Taxation Avoidance Agreement with India will not affect commitments made under the trade pact between India and the EFTA bloc, Commerce...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 317
|
|
IBC amended six times to strengthen the process of Insolvency Resolution
Posted Date : 17-Dec-2024 , 07:13:04 pm | Posted By CASANSAAR
IBC amended six times to strengthen the process of Insolvency Resolution, more than 100 amendments in regulations by IBBI for the purpose
To strengthen the process of Insolvency Resolution and to ensure proper implementation of the provisions of Insolvency and Bankruptcy Code, 2016 (IBC),...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 288
|
|
GST On Articles by Cooperative Societies
Posted Date : 17-Dec-2024 , 07:37:26 am | Posted By CASANSAAR
GST On Articles by Cooperative Societies
Since its inception on 6th July 2021, it is endevaour of Ministry of Cooperation to encourage states/UTs & cooperative societies to submit their proposals including those related to tax, which are not in parity with the benefits available to other bu...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 401
|
|
6.68% Of Population Filed Income Tax Return In 2023-24 Fiscal
Posted Date : 17-Dec-2024 , 06:40:22 pm | Posted By CASANSAAR
6.68% Of Population Filed Income Tax Return In 2023-24 Fiscal
India witnessed a rise in income tax return filings for the 2023-24 fiscal year, with over 8.09 crore returns submitted, compared to 7.40 crore the previous year. However, this represents only 6.68% of the population. Interesti...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 306
|
|
Tax Panel May Consider Lowering GST On Online Food Delivery Fees
Posted Date : 17-Dec-2024 , 06:36:15 pm | Posted By CASANSAAR
Tax Panel May Consider Lowering GST On Online Food Delivery Fees
The GST Council, chaired by India’s finance minister, may reduce the tax on food delivery charges by e-commerce platforms from 18% to 5%, effective January 1, 2024, according to sources. However, food delivery platforms like...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 286
|
|
CBDT launches Electronic Campaign to address income & transaction mismatches for FY 2023-24 & FY 2021-22
Posted Date : 17-Dec-2024 , 06:28:35 pm | Posted By CASANSAAR
CBDT launches Electronic Campaign to Address Income & Transaction Mismatches for FY 2023-24 & FY 2021-22
The Central Board of Direct Taxes (CBDT) has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the Annual ...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 302
|
|
CBDT launches Campaign to intimate taxpayers on mismatch in ITR filed and AIS
Posted Date : 17-Dec-2024 , 06:15:32 pm | Posted By CASANSAAR
CBDT launches Campaign to intimate taxpayers on mismatch in ITR filed and AIS
The Income Tax Department is reaching out to taxpayers and non-filers via SMS and email regarding mismatches between their reported transactions in the Annual Information Statement (AIS) and their Income Tax Returns (...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 254
|
|
UAE launches world
Posted Date : 17-Dec-2024 , 04:59:58 am | Posted By CASANSAAR
In an effort to boost tourism, the United Arab Emirates (UAE) on Monday, December 16, announced the launch of a new value-added tax (VAT) refund system for e-commerce purchases for tourists during their stay in the country, which is considered the world’s first of its kind.
This new system ...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 387
|
|
SEBI sets new benchmarks with comprehensive norms for Secretarial Auditors
Posted Date : 16-Dec-2024 , 05:00:57 pm | Posted By CASANSAAR
Market regulator SEBI has revised its Listing Obligations and Disclosure Requirements (LODR) Regulations to introduce detailed norms governing the appointment, re-appointment, and removal of secretarial auditors in listed entities.
Only a peer reviewed company secretary or firm of Company Secreta...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 560
|
|
Income Tax Dept Recovers Rs 37000 Cr from Individuals Not Filing Returns Despite Taxable Income
Posted Date : 16-Dec-2024 , 05:00:47 pm | Posted By CASANSAAR
Income Tax Department Recovers Rs 37, 000 Cr from Individuals Not Filing Returns Despite Taxable Income
Income Tax Department’s extensive crackdown! Over the past 20 months, the Income Tax Department has collected Rs 37,000 crore from individuals who had taxable income but fai...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 296
|
|
Banks Struggle to Meet Sebi's Cybersecurity Deadline Amid New Regulations
Posted Date : 16-Dec-2024 , 02:55:06 pm | Posted By CASANSAAR
Banks Struggle to Meet Sebi's Cybersecurity Deadline Amid New Regulations
Banks are struggling to meet SEBI's January 1st deadline for implementing a new cybersecurity framework. The extensive regulations require frequent audits, robust disaster recovery plans, and data storage within Ind...
Continue Reading...
Category :
Bank |
Comments :
0 | Hits : 290
|
|
Finance ministry following a calibrated disinvestment strategy
Posted Date : 16-Dec-2024 , 02:45:04 pm | Posted By CASANSAAR
Finance ministry following a calibrated disinvestment strategy
India's finance ministry is strategically divesting stakes in public sector enterprises. This has boosted market capitalization by 3.6 times in three years. Dividend payouts reached a record Rs 63,749 crore. The government collect...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 292
|
|
Indian listed companies saw a 6% revenue growth in FY24
Posted Date : 16-Dec-2024 , 02:08:16 am | Posted By CASANSAAR
Indian companies' revenue surge in FY24 however wage growth of employees moderate: SBI Report
New Delhi: Around 4,000 listed companies in India reported a 6 per cent growth in revenue or gross sales during the financial year 2024, according to a report by the State Bank of India (SBI).
Whi...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 343
|
|
India's fiscal deficit is projected at 4.8% of GDP for FY25
Posted Date : 16-Dec-2024 , 01:24:33 pm | Posted By CASANSAAR
India's fiscal deficit will be 4.8 pc in FY25, below budget estimate of 4.9 pc: CareEdge Ratings
New Delhi: The fiscal deficit of the central government is projected to be 4.8 per cent of GDP for FY25, slightly below the budgeted estimate of 4.9 per cent, according to a report by CareEdge Rat...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 283
|
|
Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Chhattisgarh, Goa and Mizoram
Posted Date : 16-Dec-2024 , 11:35:17 am | Posted By CASANSAAR
Dec 15th, 2024
Dear Taxpayers,
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
1. Rule 8 of the CGST Rules, 2017 has been amended to provide...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 375
|
|
3rd India-UK Financial Markets Dialogue: Joint Statement
Posted Date : 14-Dec-2024 , 05:30:48 am | Posted By CASANSAAR
3rd India-UK Financial Markets Dialogue: Joint Statement
The third meeting of India-UK Financial Markets Dialogue was hosted by Department of Economic Affairs, Ministry of Finance in GIFT City, Gujarat on 12th December 2024
Participants from India and UK touched upon reforms in respective ...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 343
|
|
India's DTAA with Switzerland may Require renegotiation: MEA
Posted Date : 14-Dec-2024 , 04:55:29 pm | Posted By CASANSAAR
India's DTAA with Switzerland may require renegotiation: MEA
India on Friday said its double taxation treaty with Switzerland may require renegotiation in view of its trade pact with the member states of the European Free Trade Association (EFTA). The remarks by the spokesperson of the Mini...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 370
|
|
Compensation cess: GoM may seek more time to Submit Report
Posted Date : 14-Dec-2024 , 04:15:45 pm | Posted By CASANSAAR
Compensation cess: GoM may seek more time to Submit Report
The group of ministers (GoM) on compensation cess will likely approach the GST Council, seeking an extension beyond the December 31 deadline to firm up its report, a person aware of the matter said
The 10-member GoM under Uni...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 340
|
|
Punjab GST dept uncovers bogus billing scam involving fraudulent transactions worth Rs 163 Cr
Posted Date : 14-Dec-2024 , 10:54:46 am | Posted By CASANSAAR
The Punjab GST Department has unearthed a bogus billing scam in Ludhiana, involving fraudulent transactions worth Rs 163 crore over the past two years.
Announcing this here on Friday, Finance Minister Harpal Cheema said the investigation revealed that M/s Monga Brothers (Unit-II), Buddewal Road, ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 408
|
|
Income tax reassessment orders can
Posted Date : 14-Dec-2024 , 10:49:09 am | Posted By CASANSAAR
The income tax department cannot issue reassessment orders to a dead person or their legal heirs, the Bombay high court ruled on Thursday.
A division bench of justices GS Kulkarni and Advait Sethna said the Income Tax Act requires the issuance of a show-cause notice to the assessee, who should ge...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 699
|
|
Tax refunds up by 46.31% to Rs 3.08 lakh crore in FY 2024-25
Posted Date : 12-Dec-2024 , 06:12:38 pm | Posted By CASANSAAR
Tax refunds up by 46.31% to Rs 3.08 lakh crore in FY 2024-25
The Finance Ministry announced on Thursday a significant improvement in the issuance of tax refunds for the financial year 2024-25.
Between April 1 and November 27 this year refunds amounting to Rs 3.08 lakh crore were issued, mark...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 502
|
|
Income Tax relief to the Cooperative societies
Posted Date : 12-Dec-2024 , 04:10:28 am | Posted By CASANSAAR
Income Tax relief to the Cooperative societies
Posted On: 11 DEC 2024 5:22PM by PIB Delhi
The Government of India has taken various initiatives to provide the income tax relief to cooperative societies. Details are as under:
Reduction in surcharge on cooperati...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 532
|
|
MCA offers e-adjudication, e-consultation to boost stakeholder confidence
Posted Date : 12-Dec-2024 , 11:26:44 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has introduced e-adjudication and e-consultation platforms to streamline legal proceedings and foster a more business-friendly regulatory environment, a senior official said on Wednesday.
Addressing the ASSOCHAM-ACCA Global Summit on Responsible Corporate G...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 587
|
|
UAE to impose 15% Corporate Tax from January 2025
Posted Date : 11-Dec-2024 , 09:11:54 pm | Posted By CASANSAAR
The United Arab Emirates (UAE) is poised to introduce a minimum top-up tax (DMTT) of 15 percent on large multinational enterprises (MNEs) operating in the country.
This will be implemented on or after January 1, 2025, aiming to establish a fair and transparent system in line with global standards...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 1551
|
|
Govt mulling Relief for lower income Tax Bracket
Posted Date : 10-Dec-2024 , 07:01:50 am | Posted By CASANSAAR
Govt mulling Relief for lower income Tax Bracket
India's upcoming February 2025 budget might offer tax relief to lower-income groups (3-7 lakh slabs) under the new regime. While higher slabs may see no significant changes, the government may raise the exemption limit beyond 3 lakh.
The u...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 549
|
|
|
