New Delhi, Ministry of Finance has notified Form GSTR-1A which will give taxpayers the option to modify the foreign sales or supply return form.Last month, the GST Council recommended providing a new optional facility through Form GSTR-1A to facilitate taxpayers to amend details in Form GSTR-1...
Chandigarh, Punjab Finance Minister Harpal Singh Cheema on Tuesday said the state government has extended the last date for filing applications under the Punjab Lump Sum Settlement (Amendment) Scheme for recovery of dues till August 16.Cheema said the objective of extending the deadline of the...
New Delhi, GST taxpayers will now have the option to amend the outgoing sales or supply declaration form GSTR-1 before payment of tax for a month or quarter.The GST Council in its meeting on Saturday recommended providing a new optional facility through Form GSTR-1A to facilitate taxpayers to...
New Delhi: Finance Minister Nirmala Sitharaman on Saturday said tax notices have been sent to less than two per cent of the total 58.62 lakh taxpayers under the central GST administration and the government intends to make life easier for GST taxpayers by reducing compliance requirements. Is...
Nirmala Sitharaman said, "In case of demand notices issued for 2017-18, 2018-19, 2019-20, if the tax is paid by March 31, 2025, interest and penalty will be waived off."GST Council has also recommended the deadline for availing input tax credit in respect of any invoice or debit note under...
Panaji, Goa Chief Minister Pramod Sawant attended the 53rd GST Council meeting in New Delhi on Saturday and raised the issue of small traders who were denied their input tax credit claims due to the late filing of returns, an official said.He raised the issue of late filers of GST returns due...
New Delhi, GST Network (GSTN) has issued a special form for manufacturers of pan masala and tobacco products to report purchased inputs and outputs to the tax authorities to prevent evasion.This new Form GST SRM-II came within a month of GSTN issuing GST SRM-I to register machines of such...
Rohtak (Haryana) [India], Chairman, Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal inaugurated GST Bhawan, an official complex of CGST Rohtak Commissionerate in Rohtak, Haryana, the Finance Ministry said in a release.The newly inaugurated GST Bhawan is easily...
New Delhi, The Income Tax Department has notified the Cost Inflation Index for the current financial year starting April 2024 for calculating long-term capital gains arising from sale of immovable property, securities and jewellery.The Cost Inflation Index (CII) is used by taxpayers to...
New Delhi: GST authorities are working on a mechanism to deal with tax rationing and registration issues related to shared warehouses created by e-commerce companies, where multiple suppliers store their goods for final delivery, an official said. Are.The issue of taxation for warehouses has...
New Delhi: The Income Tax Department on Tuesday said there was no data loss related to taxpayers in the fire that broke out in the CR building in ITO, in which an official died.In a post on Twitter, the Income Tax Department said the fire has now been brought under control and the cause is...
This functionality will display whether the taxpayer's response has been processed by the source, by accepting or rejecting it, partially or completely. In case of partial or complete acceptance, it is necessary to correct the information by filing the correction statement by the source.The...
ISLAMABAD [Pakistan], Pakistan's telecom operators on Friday agreed to start the manual blocking process in small batches of tax evaders, ending a week-long standoff over implementation of the tax machinery drive to broaden the tax base. Went. The agreement was reached after the Federal Board of...
ISLAMABAD: Authorities in Pakistan have decided to block the mobile phones and SI cards of over half a million tax defaulters as part of a drive to crack down on tax evaders.The Federal Board of Revenue (FBR) said in an Income Tax General Order (ITGO) that mobile SIMs of 506,671 individuals...
New Delhi, The Central Board of Direct Taxes (CBDT) has entered into a record 125 advance pricing agreements (APAs) with Indian taxpayers in 2023-24.This includes 86 unilateral APAs (UAPAs) and 39 bilateral APAs (BAPAs), the Finance Ministry said in a statement on Tuesday.It said this is the...
“This marks the highest number of APA signatures in any fiscal year since the inception of the APA program. According to a CBDT statement, the number of APAs signed in FY 2023-24 also shows an increase of 31 per cent compared to 95 APAs signed during the previous financial year.With this...
Nagpur: Vice President Jagdeep Dhankhar on Monday said corrupt elements in the corridors of power have been completely neutralized and corruption is no longer a password for opportunity, job or contract, but a path to jail.Addressing the valedictory function of the 76th batch of the Indian...
New Delhi, GST Network (GSTN) on Thursday said the due date to file returns for outward supplies or GSTR-1 for March will be extended to April 12.In a post on Twitter. The response has become slow."GSTN has accordingly recommended to @CBIC_India that the due date for filing GSTR-1 for...
New Delhi [India], In response to recent media reports claiming a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases related to House Rent Allowance (HRA) claims, the Finance Ministry issued a clarification. Have done. The reports are completely baseless. According to a...
"Any apprehension about reopening of cases on issues related to retrospective taxation and HRA claims on these matters is completely baseless," the CBDT, the apex decision-making body of the Income Tax Department, said.“Data analysis was conducted in some high value cases of mismatch between...