CENTRAL BOARD OF INDIRECT TAXES
Dharmendra Pradhan hopes coming Budget will signal inclusion of ATF, natural gas in GST
When the Goods and Services Tax (GST) was introduced on July 1, 2017 amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
Election Commission view sought on ways to monitor lawmakers’ assets
The law ministry has written to the Election Commission seeking its opin...
CBIC suspends Assistant Commissioner on charges of disproportionate assets
Central Board of Indirect Taxes and Customs on Wednesday suspended...
NSE commodities segment gets recognition from CBDT
This approval will benefit traders in relation to trading in commodity derivatives segment of NSE.
Tax dept issues 2.10 crore tax refunds till November; Rs 1.46-lakh crore refunded
It processed 2.10 crore tax refund cases for current Assessment Year 2019-20 as on November 28, 2019, compared to 1.75 crore refunds for the same period in FY 2018-19, an increase of 20 per cent. The total amount of refunds issued in FY 2019-20 till Nov 28 was Rs 1.46 lakh cr as compared to Rs 1.19 lakh cr in the same period of the previous year.
GST authorities unearth racket involving Rs 140 cr tax fraud
New Delhi, Nov 26 () GST authorities have unearthed a tax racket and arrested one person for allegedly defrauding the government to the tune of about Rs 140 crore through fraudulent means.
NITI Aayog preparing draft model Land Title Act, 2019
Conclusive land titles are guaranteed by the state for their correctness and entail provision for compensation by the state in case of any disputes. Guaranteed title systems have been developed and adopted in countries such as Australia, New Zealand, Singapore and the United Kingdom.
Middle class may gain from lower tax rates in Budget FY21
Sources said that the Budget 2020-21 will take the sops announced in the pre-election interim budget further by changing the personal income tax rates for the salaried in lower and middle income groups. This may be done through changes in the tax slabs.
Tax department launches web portal for exchange of information
Information is reported annually by financial institutions which are then exchanged by India under the standard. The web portal will be a repository of policy and technical circulars, guidance and notifications issued by the CBDT, and provide links to relevant circulars and guidance issued by the regulatory authorities and other international bodies.
Giving Aadhaar number in lieu of PAN? Make sure you have linked both. Here's why
CBDT issued a notification in August where it stated that if someone without a PAN card quotes their Aadhaar number, then the income tax department will consider this an auto-application for PAN and it will be issued to the individual.
Govt extends due dates of filing GST for FY 2017-18 to 31st December
Central Board of Indirect Taxes & Customs: Government extends the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Recon...
Hawala probe: I-T Dept issues notice to Congress for receiving Rs 170-cr funds from Hyderbad-based firm
The notice has been issued to the party here to take the probe forward in a case that was unearthed last month after multiple raids were conducted in Delhi, Mumbai and Hyderabad with links to "leading corporate houses" in the infrastructure sector.
CBDT seeks to widen net for appointment of members, makes younger officers eligible for post
Till a couple of years ago, only officers of the rank of Principal Chief Commissioner of Income Tax (PCCIT) were eligible for being considered for appointment as Member, CBDT. CBDT, on November 11, sought to widen the catchment of officers by making eligible all officers of the rank of Principal Commissioner of Income Tax and above.
No GST on CXO salaries: Government set to clarify
CBEC is set to clarify that common function like HRs should be out of the GST gamut
Budget 2020: FinMin seeks suggestions for rationalising income tax, other duties
While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put out circular seeking suggestions for changes in income tax rates for both individuals and corporates as well as in indirect taxes such as excise and customs duty.
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