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Monday, April 12, 2021

Tax Returns

Centre releases Rs 30,000 cr GST compensation to states

New Delhi, March 30 (IANS) The Centre on Tuesday said it has released GST compensation amounting to Rs 30,000 crore to states. The funds were released as part 'compensation admissible' for FY21 on March 27. "The total amount of compensation released...

TDS be deducted on cash withdrawals from post office schemes

New Delhi, March 30 (IANS) The Department of Posts has issued new rules for deduction of TDS if the aggregate withdrawal from all post office schemes is more than Rs 20 lakh. The provision includes withdrawals from PPF also. As...

CBIC bars DRI officials from issuing notice on customs duty matters

By Subhash Narayan (IANS) The Central Board of Indirect Taxes and Customs (CBIC) has barred the Department of Revenue Intelligence (DRI) from issuing show cause notice (SCN) in respect of all customs related cases being investigated by them. The...

Fake GST fraud: 357 arrested so far, including 12 CAs

New Delhi, March 9 (IANS) The Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates have so far arrested 357 persons, including 12 chartered accountants, one company secretary and an advocate, in the ongoing nationwide drive against fake...

‘GDP poised to enter double digit growth trajectory in FY22’

New Delhi, Mar 4 (IANS): Economic activity has remained intact and the GDP is poised to enter a double digit growth trajectory in FY22, said industry body PHD Chamber. The industry body cited that broad-based policy measures undertaken by the Centre...

Share of cess, surcharge in tax revenue doubles in 9 years

New Delhi, Mar 2 (IANS): The share of cess and surcharge in gross tax revenue has nearly doubled to 19.9 per cent in FY21, from 10.4 per cent in FY12. This has resulted in the decline in the central transfer to...

No new tax measures positive for equities

New Delhi, Feb 2 (IANS) From an equity perspective, no new tax measures, focus on capital spending to boost infrastructure spend are the key positives, as per a post Budget note by IDFC Mutual Fund. The use of Custom duty...

CBDT launches e-portal for filing tax evasion complaints

New Delhi, Jan 12 (IANS) Taking another step towards e-governance and encouraging the participation of citizens as stakeholders in curbing tax evasion, the Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website...

GST compensation shortfall: 8th tranche of Rs 6K Cr released to states

New Delhi, Dec 21 (IANS) Ministry of Finance has released the 8th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 5,516.60 crore has been released to...

Govt gives more time for compliance on anti-profiteering proceedings

New Delhi, Dec 15 (IANS) The Central Board of Indirect Taxes and Customs (CBIC) has further extended the due date of completion and compliance by any authority for anti-profiteering proceedings till March 31, 2021. The extension has been given in...

Latest News

Easing lockdown could lead to 3rd Covid-19 wave in UK: Scientists

London, April 12 (IANS) British scientists have warned that the British government is risking a third wave of Covid-19...