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GST amendments in Union Budget, 2024
CA Palash Sharma Introduction: The Union Budget 2024 introduces significant amendments to the Goods and Services Tax (GST) framework, focusing on areas such as Input Service Distribution and penalties...
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Union Budget 2024: GST Law Amendments – ISD Mandatory, Section 2(61) & 20 Altered
The Union Budget 2024 brings significant changes to the Goods and Services Tax (GST) law, particularly in the realm of Input Service Distributor (ISD). As recommended by the GST Council, amendments ha...
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Top 75 Highlights of Budget FY 2024-25 by Finance Minister Nirmala Sitharaman
Introduction: On February 1, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024 in the Lok Sabha, marking a crucial interim budget just ahead of the Lok Sabha Elections. With no altera...
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Interim Union Budget 2024: Changes related to Direct and Indirect Taxes
Introduction: In the recent Interim Budget speech for the fiscal year 2024-2025, Finance Minister Nirmala Sitharaman outlined significant achievements in both direct and indirect tax sectors over the...
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Interim Budget 2024 Summary (Direct Tax And Indirect Tax)
Introduction: Interim Budget 2024 presents a comprehensive overview of fiscal measures, emphasizing tax continuity and pivotal changes in direct and indirect taxes. This article dissects the significa...
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Budget 2024 Speech (Direct Tax And Indirect Tax)
Introduction: The Finance Minister’s direct tax proposals for the upcoming fiscal year reveal a strategic approach to taxation, focusing on continuity, taxpayer support, and rationalization efforts. T...
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Direct Tax Collections Tripled, Return Filers Surge 2.4 Times in Past Decade
Introduction: In a significant revelation during the presentation of the Interim Budget 2024-25, Union Finance Minister Smt. Nirmala Sitharaman disclosed that direct tax collections have more than tri...
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Average Monthly Gross GST Collection Doubles To ₹1.66 Lakh Crore
In a significant announcement during the Interim Budget 2024-25, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, highlighted the remarkable success of the Goods and Services...
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Interim Budget propose to retain tax rates for direct and indirect taxes
The recently presented Interim Budget for the fiscal year 2024-25 holds pivotal changes in taxation policies. Union Finance Minister, Smt. Nirmala Sitharaman, announced the continuation of existing ta...
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LLP Act Amendments, Integrated IT Portal, NCLT Framework Strengthening by MCA
In a resolute effort to actualize the promises outlined in the 2021-2022 budget, the Ministry of Corporate Affairs has spearheaded comprehensive initiatives. From the groundbreaking Limited Liability...
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January 2024 GST Collections: ₹1,72,129 Crore, 10.4% YoY Growth
The Ministry of Finance has released the latest figures for GST collections in January 2024, revealing a noteworthy growth and marking a significant milestone in the fiscal year 2023-24. As of 5:00 PM...
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CBDT Approves M/s Prayoga, Bengaluru for Scientific Research Funding U/s. 35
Introduction: The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, through Notification No. 18/2024 dated 30th January 2024, exercises its powers under the Income-tax Act, 19...
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Government’s Mission for Quality: DPIIT Introduces Control Orders
Government of India is on a mission to fortify the quality ecosystem, emphasizing safety and superior products for economic growth. The Department for Promotion of Industry and Internal Trade (DPIIT)...
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Ministry of Finance releases The Indian Economy – A Review
Introduction: The Ministry of Finance, has recently released “The Indian Economy – A Review,” providing insights into the nation’s economic trajectory over the past decade. This analysis delves into k...
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ICAI CPE Statement 2023: Guidelines for Continuing Professional Education
The Continuing Professional Education Committee (CPEC) of the Institute of Chartered Accountants of India (ICAI) plays a pivotal role in setting strategic directions for Continuing Professional Educat...
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Bank Branch Auditors’ Draft Panel of CAs/firms for 2023-24
Professional Development Committee The Institute of Chartered Accountants of India 25th January, 2024 Announcement Draft Bank Branch Auditors’ Panel (MEF) for the year 2023-24 We are pleased to inform...
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CBI Arrests Odisha GST Superintendent for Rs. 20,000 Bribery Scam
Introduction: In a significant development, the Central Bureau of Investigation (CBI) has apprehended a Superintendent of GST in Rourkela, Odisha, on charges of bribery. The case revolves around the o...
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IFSCA seeks suggestions on IFSCA (Issuance & Listing of Securities) Regulations, 2021
Introduction: The International Financial Services Centres Authority (IFSCA) has released a press release seeking suggestions for the review of IFSCA (Issuance and Listing of Securities) Regulations,...
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CBDT notifies Income Tax Return (ITR) Form ITR-6 for AY 2024-25
The Central Board of Direct Taxes (CBDT) has recently issued Notification No. 16/2024, dated January 24, 2024. This notification pertains to the Income Tax Return (ITR) Form ITR-6 for the Assessment Y...
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All about Income-Tax Act Amendments Carried Out Through Finance Act, 2023
The unveiling of Circular No. 1/2024 by the Central Board of Direct Taxes marks a pivotal moment in understanding the nuanced amendments introduced through the Finance Act, 2023, in the Indian Income-...