- 15 Oct 2024 07:16 PM
- New
A Comprehensive Guide to Calculating and Maximising Input Tax Credit with a GST Calculator
Discover how to calculate and maximise your input tax credit with a GST calculator. Use tools like the Bajaj Finserv GST Calculator to manage taxes.
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- 11 Oct 2024 06:19 PM
- New
Empanelment of CAs/Cost Accountants for Special GST Audit
Source: https://taxguru.in/goods-and-service-tax/empanelment-cas-cost-accountants-special-gst-audit.html
The Office of the Commissioner of CGST and Central Excise (Audit) Thane is inviting online Expressions of Interest (EOIs) for the empanelment of Chartered Accountants and Cost Accountants. This is for conducting special audits of GST-registered persons as mandated under Section 66 of the Central Goods and Services Tax Act, 2017. Interested candidates must submit their EOIs online through the Central Public Procurement Portal, with the submission deadline set for October 27, 2024. Eligible applicants should have at least five years of experience, be registered with the relevant professional institutes, and meet specific compliance criteria. The selection will be based on various parameters, including experience, turnover, and audit assignments completed. The appointed auditors will examine the financial records of GST registered persons to ensure compliance and report findings within a stipulated timeframe. Non-compliance with the eligibility criteria or misconduct may result in cancellation of empanelment. The panel will be valid for two years, with opportunities for new firms to join based on need.
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- 10 Oct 2024 06:05 PM
- New
E-way bills hit yet another record in September, signalling festival season boost
E-way bill generation hit a new record of 109 million in September, marking an 18% year-on-year rise as supply chains ramp up for festival season demand. This surge signals robust economic activity and improved compliance.
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- 09 Oct 2024 06:13 PM
Centre seeks to enable cheaper large TVs in India, incentives for ACs too
New Delhi: Televisions and air conditioners are the next in line in electronics and appliances industries to receive a Centre-backed boost—driven by new incentives, revisions to customs duties and public procurement programmes. The most critical part of the new set of moves involves abolition of basic customs duties on open cells for television panels—which can reduce the overall pricing of large-screen TVs by a significant margin.
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- 09 Oct 2024 06:16 PM
Income tax reform: Go beyond simplifying India’s unwieldy code
The government has initiated action on its budget promise to revamp India’s Income Tax code and invited suggestions from the public on four areas of reform: simplification of language, reducing litigation, easing the compliance burden and getting rid of obsolete provisions.
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- 07 Oct 2024 06:25 PM
India’s carbonated soft drinks sector is struggling to expand, says ICRIER: Here’s why
India's carbonated soft drink (CSD) sector is struggling to expand due to high taxation under the Goods and Services Tax (GST) regime, revealed a report released by economic think tank ICRIER.
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- 07 Oct 2024 06:44 PM
Advisory on Aadhaar Authentication & Document Verification for GST Registration in Kerala, Nagaland, Telangana
GST applicants from Kerala, Nagaland, and Telangana must follow new Aadhaar-based biometric authentication and document verification procedures, effective from October 5, 2024. As per the amendment to Rule 8 of the CGST Rules, 2017, applicants may undergo biometric-based Aadhaar authentication, alongside verification of the original documents uploaded during registration. This process involves receiving an email with either a link for OTP-based authentication or for booking an appointment at a GST Suvidha Kendra (GSK). Applicants opting for the biometric process must visit the designated GSK with essential documents, including original Aadhaar and PAN cards, along with the confirmation emails. After successful authentication, the Application Reference Number (ARN) will be generated. The GSKs operate according to the state guidelines, and it is crucial to schedule biometric verification within the specified period as outlined in the registration process.
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- 05 Oct 2024 06:23 PM
SpiceJet clears four-month pending salary of employees after GST dues; 10-month PF fee deposited
SpiceJet is signalling its intent to regain a stronger position in the competitive aviation market with plans to introduce new aircraft, expand its routes, and restore its network.
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- 04 Oct 2024 05:26 PM
India @2047: Navigating roadblocks on the path to a $30 trillion economy
Rau of Future Generali India Insurance, highlighted India’s potential to become a $30 trillion economy, but flagged challenges in labour reforms, geopolitics, and governance.
He pointed to growth in the insurance sector, led by tech and consumer demand, but called for clarity on GST in healthcare
- 02 Oct 2024 06:18 PM
Centre, states collect ₹1.73 tn in GST revenue in September
Experts said the September revenue collection figure, representing August sales, was a tad below expectations.
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