21 Oct 2023 05:27 PM
New

5 schemes and subsidies to save on home loans during the festive season

Source: https://www.livemint.com/money/personal-finance/5-schemes-and-subsidies-to-save-on-home-loans-during-the-festive-season-11697612688990.html

The festive season is considered auspicious for purchasing dream projects and if you have plans to buy your dream home, the Indian government has introduced several schemes and subsidies to save on your home loan and help you in realising the dream of homeownership.

20 Oct 2023 06:34 PM
New

ICAI representation on Mass GST Notices: Unfair Treatment of Taxpayers

Source: https://taxguru.in/goods-and-service-tax/icai-representation-mass-gst-notices-unfair-treatment-taxpayers.html

Introduction:

The Institute of Chartered Accountants of India (ICAI), established by an Act of Parliament in 1949, plays a pivotal role in regulating and advancing the field of Chartered Accountancy in the country. However, recent developments in the realm of Goods and Services Tax (GST) have prompted ICAI to raise serious concerns about the mass issuance of show cause notices by the government. In this article, we delve into the challenges faced by ICAI in addressing these issues.

20 Oct 2023 06:13 PM
New

Stock to Watch: Dabur shares dip on cancer allegations in US, GST tax evasion notice

Source: https://www.livemint.com/market/stock-market-news/stock-to-watch-dabur-india-in-focus-over-cancer-allegations-in-us-gst-tax-evasion-notice-11697684151167.html

Stock in focus: Shares of Dabur India Ltd are under perssure as the company has received intimation from the Goods and Services Tax (GST) Intelligence of tax ascertained as being payable by the company. Informing Indian stock market exchanges about the tax intimation, Dabur India said that it is reviewing the intimation and evaluating the next steps in this matter.

20 Oct 2023 06:17 PM

Looking to gift or invest in gold this festive season? Beware of the tax implications

Source: https://www.livemint.com/money/personal-finance/looking-to-gift-or-invest-in-gold-this-festive-season-beware-of-the-tax-implications-11697624431749.html

Gifting manners during festivals have changed. However, not all have succumbed to the new-age glitzy gifting styles picked and decided in tune with marketing gimmicks and easy gifting options. However, some people still prefer the old-school line of thought when it comes to giving and receiving gifts in gold and silver. As our old people say, “Trends may change but values never change". Each day of the festival, commencing from the onset of Navaratris and extending until Diwali, brims with profound significance and symbolism.

20 Oct 2023 06:20 PM

DGGI detected GST evasion of ₹1.36 trillion this year: finance ministry

Source: https://www.livemint.com/news/india/dggi-detected-gst-evasion-of-rs-1-36-trillion-this-year-finance-ministry-11697691035320.html

From April 2020 to September 2023, more than 6,000 fake input tax credit cases involving more than ₹5.7 trillion in evaded GST has been detected and a total of 500 persons have been arrested, the ministry said

20 Oct 2023 06:27 PM

DGGI Uncovers ₹57,000 Cr Fake ITC Cases, 500 Arrests

Source: https://taxguru.in/goods-and-service-tax/dggi-fake-itc-57k-cases-500-arrests.html

Introduction: The Ministry of Finance, through its premier investigative agency, the Directorate General of GST Intelligence (DGGI), has been on the front lines in the battle against fake Input Tax Credit (ITC) and GST evasion. This article sheds light on the remarkable efforts of DGGI in detecting and combating fraudulent ITC claims, ultimately safeguarding the government’s revenue.

20 Oct 2023 06:23 PM

GST council meeting: Is the extension of the appeal filing period a relief for taxpayers?

Source: https://www.livemint.com/money/personal-finance/gst-council-meeting-is-the-extension-of-the-appeal-filing-period-a-relief-for-taxpayers-11697789240003.html

From the inception of the Goods and Services Tax (GST) in July 2017, the legislative landscape has undergone a constant process of evolution, marked by successive amendments aimed at addressing practical challenges to overcome hurdles in implementation. Consequently, the GST legal framework has, for the most part, reached a state of stability.

18 Oct 2023 06:15 PM

Financial services secy meets private insurers, discusses key issues

Source: https://www.livemint.com/insurance/news/financial-services-secy-meets-private-insurers-discusses-key-issues-11697558108458.html

The meeting discussed the concerns of the insurance industry regarding GST demand

18 Oct 2023 06:09 PM

States' capital spending to surge 29% in FY24: Icra

Source: https://www.livemint.com/economy/states-capital-spending-to-surge-29-in-fy24-icra-11697546944402.html

New Delhi: Capital spending by 13 state governments, who have availed the center's interest free loans, is set to rise an estimatd 29% on a year-on-year (YoY) to ₹6.2 trillion in FY24, rating agency Icra Ltd. said on Tuesday.

18 Oct 2023 06:18 PM

MNCs sent tax notices over expat employees' allowances from foreign parent companies

Source: https://www.livemint.com/industry/mncs-sent-tax-notices-over-expat-exployees-allowances-from-foreign-parent-companies-11697606105948.html

Multinational corporations (MNCs) operating in India are facing tax demands from goods and services tax (GST) authorities, affecting approximately 1,000 foreign subsidiaries, Business Standard reported quoting sources. The tax demands, issued in recent weeks, pertain to an 18 percent tax on salaries and allowances paid to foreign expats by their overseas parent companies, it added.