GST Advisory On E-Way Bill Generation for Goods Under Chapter 71
Posted Date : 07-Feb-2025 , 12:04:06 am | Posted By CASANSAAR
Rule 138(14) of the Central Goods and Services Tax (CGST) Rules, 2017, read with its Annexure S.Nos. 4 and 5, states that goods covered under Chapter 71 viz., Natural or cultured pearls and precious or semi-precious stones; precious metals and metals clad with precious metal, Jewellery, goldsmiths&r...
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GST |
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CPA Canada signs MOU with Institute of Chartered Accountants of Pakistan
Posted Date : 04-Feb-2025 , 08:54:33 am | Posted By CASANSAAR
Chartered Professional Accountants of Canada (CPA Canada) has cemented a partnership with the Institute of Chartered Accountants of Pakistan (ICAP) through a Memorandum of Understanding (MOU) on Reciprocal Membership Arrangement, facilitating a pathway for Pakistani accountants to gain Canadian CPA ...
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Chartered Accountant |
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NFRA penalises Auditor for lapses in Religare Finvest case
Posted Date : 04-Feb-2025 , 08:47:52 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) has imposed a fine of Rs 5 lakh on an auditor (Partner of S.S.Kothari Mehta & Co. LLP) for lapses in the auditing of Religare Finvest Ltd for 2017-18. The auditor (Neeraj Bansal) was also barred by NFRA from taking any audit work for five years, ...
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NFRA |
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SEBI proposes UPI IDs for market intermediaries
Posted Date : 04-Feb-2025 , 08:36:45 am | Posted By CASANSAAR
The market regulator is preparing to land another punch at unregistered entities/finfluencers' business. It has proposed a system through which investors can be sure that they are paying regulated or registered entities. It suggested the use of UPI IDs that will be generated by a particular soft...
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SEBI |
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Kerala Court Issues Non-Bailable Warrant Against Baba Ramdev
Posted Date : 03-Feb-2025 , 08:22:16 am | Posted By CASANSAAR
A Kerala Court on Saturday (February )issued non-bailable warrants against Baba Ramdev and Acharya Balakrishna following their non-appearance in the criminal case filed by Kerala Drugs Inspector against Divya Pharmacy over alleged misleading medical ads.
The warrants have been issued to secure th...
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General |
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Gross and Net GST revenue collections for the month of Jan, 2025
Posted Date : 01-Feb-2025 , 05:34:02 pm | Posted By CASANSAAR
Feb 1st, 2025
Please click on the link below to view the gross and net GST revenue collections for the month of January, 2025.
(https://tutorial.gst.gov.in/downloads/news/approved_monthly_gst_data_for_publishing_jan_2025.pdf )
Thanks,
Team GSTN
...
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GST |
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Slew Of Direct Tax Reforms Proposed in Budget 2025-26 To Achieve Good Governance
Posted Date : 01-Feb-2025 , 05:19:12 pm | Posted By CASANSAAR
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Union Budget 2025-26, in the Parliament today. A slew of Direct Tax reforms were proposed in the document with the aim to achieve good governance for the people and economy.
The objectives of the Direct ...
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Budget |
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Slew Of Direct Tax Reforms Proposed in Budget 2025-26 To Achieve Good Governance
Posted Date : 01-Feb-2025 , 05:42:36 am | Posted By CASANSAAR
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Union Budget 2025-26, in the Parliament today. A slew of Direct Tax reforms were proposed in the document with the aim to achieve good governance for the people and economy.
The objectives of the Direct ...
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Budget |
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Budget 2025-26 proposes changes in GST laws for ensuring trade facilitation
Posted Date : 01-Feb-2025 , 05:08:17 pm | Posted By CASANSAAR
BUDGET 2025-26 PRIORITISES TRADE FACILITATION: GST AMENDMENTS PROPOSED
DISTRIBUTION OF INPUT TAX CREDIT IN RESPECT OF INTER-STATE SUPPLIES FROM 1ST APRIL, 2025.
NEW CLAUSE TO DEFINE UNIQUE IDENTIFICATION MARKING FOR TRACK AND TRACE MECHANISM
PROVISION TO REDUCE SUPPL...
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Budget |
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Record over Rs 6.81 lakh crore allocated in Budget 2025-26 for MoD, an increase of 9.53% from current FY
Posted Date : 01-Feb-2025 , 04:55:27 pm | Posted By CASANSAAR
Rs 1.80 lakh crore allocated under Capital Budget of Armed Forces; Modernisation a key focus area; Rs 1.12 lakh crore earmarked for procurement from domestic industries
14% increase in allocation for Defence Pension; Rs 8,317 crore allocated for ECHS
12% hike for De...
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Budget |
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0 | Hits : 4382
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India
Posted Date : 01-Feb-2025 , 04:47:51 pm | Posted By CASANSAAR
India’s nominal GDP is projected to grow by 10.1% in FY26
Supported by the Supply-side measures from the Government retail inflation remained within inflation-band of 4±2 per cent in FY 2024-25 (April-December)
RBI projects inflation at 4.6% in Q1 and 4.0% in Q2 of...
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Custom |
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No Income Tax on Annual Income Upto Rs. 12 Lakh Under New Tax Regime
Posted Date : 01-Feb-2025 , 05:10:20 am | Posted By CASANSAAR
LIMIT TO BE Rs. 12.75 LAKH FOR SALARIED TAX PAYERS, WITH STANDARD DEDUCTION OF RS. 75,000
UNION BUDGET 2025-26 BRINGS ACROSS-THE-BOARD CHANGE IN INCOME TAX SLABS AND RATES TO BENEFIT ALL TAX-PAYERS
TAX SLAB RATE REDUCTION AND REBATES TO RESULT IN SUBSTANTIAL TAX RELIEF TO MIDDLE CLASS, THE...
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Income Tax |
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Investment & Turnover Limits for Classification of All MSMEs To Be Enhanced To 2.5
Posted Date : 01-Feb-2025 , 03:51:11 pm | Posted By CASANSAAR
CREDIT GUARANTEE COVER FOR MICRO AND SMALL ENTERPRISES ENHANCED FROM 5 CRORE TO 10 CRORE
10 LAKH CUSTOMIZED CREDIT CARDS WITH A 5 LAKH LIMIT FOR MICRO ENTERPRISES REGISTERED ON UDYAM PORTAL TO BE INTRODUCED IN THE FIRST YEAR
NEW FUND OF FUNDS of Rs. 10,000 CRORES TO BE SET UP FOR STA...
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Budget |
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FDI Limit for Insurance Sector Raised From 74 to 100 Percent: Union Budget 2025-26
Posted Date : 01-Feb-2025 , 03:34:13 pm | Posted By CASANSAAR
FORUM FOR REGULATORY COORDINATION AND DEVELOPMENT OF PENSION PRODUCTS TO BE SET UP: UNION BUDGET 2025-26
ROLL OUT OF REVAMPED CENTRAL KYC REGISTRY PLANNED IN 2025
PROCEDURES FOR SPEEDY APPROVAL OF COMPANY MERGERS TO BE RATIONALIZED, PROCESS TO BE MADE SIMPLER
Budget 2025-2...
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Budget |
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CBIC Clarifies No GST on penal charges levied by banks
Posted Date : 31-Jan-2025 , 07:38:47 pm | Posted By CASANSAAR
No GST on penal charges: The government has clarified that no bank, NBFC, regulated entities (REs) can charge Goods and Services Tax (GST) on penal charges on loans. Penal charges are payments in the nature of liquidated damages for breach of contract and hence are not a consideration for tolerating...
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GST |
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ITR portal 2.0: exists many flaws, glitches, Income Tax Notice Management
Posted Date : 31-Jan-2025 , 07:29:53 pm | Posted By CASANSAAR
Flaw in ITR portal 2.0: Experts say there exists many flaws, glitches, etc with the e-filing ITR portal. Although these issues might seem small but collectively these add up to a bigger grievance. For example: When a notice under section 143(1)(a) is sent through email, only the intimation is shown....
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ITR |
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Chartered accountants need to innovate to stay ahead of curve: Rajnath Singh
Posted Date : 31-Jan-2025 , 07:20:00 pm | Posted By CASANSAAR
NEW DELHI: Chartered accountants are the gatekeepers of accountability and they should innovate and adapt to stay ahead of the curve, Defence Minister Rajnath Singh said on Friday.
Addressing the World Forum of Accountants (WOFA) conference in the national capital, he also highlighted tha...
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CA |
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India's forex reserves rise USD 5.57 bn to USD 629.55 bn
Posted Date : 31-Jan-2025 , 07:12:36 pm | Posted By CASANSAAR
MUMBAI: India's forex reserves increased USD 5.574 billion to USD 629.557 billion in the week ended January 24, the Reserve Bank said on Friday.
In the previous reporting week, the overall kitty had dropped USD 1.888 billion to USD 623.983 billion.
The reserves have been on...
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Finance |
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ED arrested CA used fraudulently earned money to buy property in Dubai
Posted Date : 29-Jan-2025 , 10:52:26 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) has claimed that chartered accountant Amber Dalal, arrested in an alleged investment fraud, used investors’ money to cover losses incurred by him in stock market trading, paying credit card bills, and buying properties, including one in Dubai near Burj Khalifa....
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Chartered Accountant |
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CBIC clarified No GST on penal charges levied by banks, NBFCs
Posted Date : 29-Jan-2025 , 08:05:15 am | Posted By CASANSAAR
GST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being deemed as breaches of contract terms. Additionally, GST exemption applies to Payment Aggregators for transactions up to Rs 2,000, but not to Payment Gateway servi...
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GST |
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Tax benefits to adopt emerging tech, expanding credit guarantee in Budget to help boost SMEs
Posted Date : 29-Jan-2025 , 05:52:21 pm | Posted By CASANSAAR
NEW DELHI: Tax benefits to adopt emerging technologies like AI, announcement to set up dedicated manufacturing zones, and expanding credit guarantee schemes in the Budget will help boost the growth of SMEs, experts say.
They also said that AI-based credit assessments and risk profiling ca...
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Income Tax |
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Need fiscal, monetary policy changes to achieve 6.4 pc GDP growth in 2025
Posted Date : 29-Jan-2025 , 05:50:28 pm | Posted By CASANSAAR
NEW DELHI: India needs to change its fiscal and monetary policy to achieve a 6.4 per cent GDP growth in 2025 amid a weak rupee, declining foreign investment and volatile inflation, Moody's Analytics said on Wednesday.
Moody's Analytics said it expects the 2025-26 Union Budget to s...
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Budget |
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RBI readies Rs. 1.5 lakh crore injection durable liquidity into the banking system,
Posted Date : 28-Jan-2025 , 07:56:18 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) announced measures to inject durable liquidity into the banking system, including a ?60,000-crore bond purchase and a $5-billion USD/rupee swap auction. These actions are expected to ease liquidity conditions and raise the probability of a repo rate cut in February, p...
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RBI |
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0 | Hits : 661
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RBI publishes Payment System Report for Dec 2024
Posted Date : 28-Jan-2025 , 07:51:12 pm | Posted By CASANSAAR
The Reserve Bank of India has published the Payment System Report, December 2024. The report analyses the trends in payment transactions carried out using various payment systems in India during the last five calendar years up to CY-2024. It also covers important developments in the payment ecosyste...
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RBI |
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0 | Hits : 739
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Bombay High Court Final judgement on 87A tax rebate claim
Posted Date : 28-Jan-2025 , 07:49:05 pm | Posted By CASANSAAR
Final judgement on 87A tax rebate claim: The 67-page Bombay High Court judgement says yes taxpayers should be given the option to file their ITR with Section 87A rebate claim and the income tax department wrongly prevented this by modifying the tax utility post July 5, 2024. However, whether to hono...
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Income Tax |
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0 | Hits : 621
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FICCI members for review of tax structure to spur demand, boost growth
Posted Date : 28-Jan-2025 , 07:17:49 pm | Posted By CASANSAAR
NEW DELHI: Ahead of the Budget, a majority of the members surveyed by FICCI favoured review of the direct tax structure with a view to spur demand and boost growth.
A re-look at the slabs and the tax rates is warranted as this could leave more money in the hands of people and spur consumption dem...
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Budget |
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0 | Hits : 567
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Biometric-Based Aadhaar Authentication & Document Verification for GST Registration Applicants of Tamil Nadu and HP
Posted Date : 28-Jan-2025 , 06:38:31 pm | Posted By CASANSAAR
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Tamil Nadu and Himachal Pradesh
Jan 28th, 2025
Dear Taxpayers,
This is to inform taxpayers about recent developments concerning the application process for GST registration. It i...
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GST |
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0 | Hits : 945
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Coldplay
Posted Date : 27-Jan-2025 , 09:26:29 pm | Posted By CASANSAAR
After delivering an electrifying performance in Ahmedabad on January 26, Chris on Monday was photographed arriving at the Maha Kumbh mela 2025 with his girlfriend Dakota.
A video has surfaced on social media showing Chris and his partner arriving at the mela on Monday. The footage shared by ANI c...
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General |
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RBI announces measures to inject liquidity into banking system
Posted Date : 28-Jan-2025 , 08:55:18 am | Posted By CASANSAAR
The Reserve Bank of India's (RBI) measures, expected to collectively infuse 1.5 trillion rupees into the banking system, come after months of a cash crunch in the banking system that had pushed up overnight and short-term lending rates.
"The urgency that was being felt in the market has ...
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RBI |
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0 | Hits : 656
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DGFT Launches Enhanced eCoO 2.0 System with Provisions for Back-to-Back Certificates of Origin
Posted Date : 28-Jan-2025 , 08:43:22 am | Posted By CASANSAAR
The Directorate General of Foreign Trade (DGFT) has launched the enhanced Certificate of Origin (eCoO) 2.0 System, a significant upgrade designed to simplify the certification process for exporters and enhance trade efficiency. This upgraded platform offers several user-friendly features, such as mu...
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DGFT |
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0 | Hits : 397
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