Suggestions for Comprehensive Review of Income-Tax Act
The Central Board of Direct Taxes (CBDT) has announced a public consultation for a comprehensive review of the Income Tax Act
Extension of Deadline for Quarterly Report Submission Under RERA
As per Section 11(1)(e) of the Real Estate (Regulation and Development) Act, 2016, and Rule 10 of the Gujarat Real Estate (Regulation and Development) Rules, 2016, GujRERA’s Order-5 dated January 15, 2018, promoters are required to submit quarterly reports on their registered projects through the Gujrera portal.
Amendment in Earlier Notification Regarding Exemption on Supply of Services
This notification (No. 08/2024-Central Tax (Rate), dated 8th October 2024, amends the earlier notification No. 12/2017-Central Tax (Rate) regarding GST rates and exemptions for certain services.
Amendment in Earlier Notification Regarding Rates for Supply of Services
The CBIC has issued Notification No. 07/2024-Central Tax (Rate), which specifies a change in the GST rate for the transport of passengers by helicopter services on a sharing basis.
Notifying Special Procedure for Rectification of Orders Under the CGST Act
Central Board of Indirect Taxes and Customs (CBIC) has notified a special procedure for rectifying orders under Sections 73, 74, 107, or 108 of the CGST Act, 2017, for wrong availment of input tax credit due to contraventions of Section 16(4).
Notification of Tax Payment Due Dates
The Central Board of Indirect Taxes and Customs (CBIC), following the recommendations of the Council, has issued a notification concerning the date of payment for taxes payable under specific notices, statements, or orders applicable to designated classes of registered persons.
Update on Notification Amendment for Enforcement of Section 51 of the CGST Act
The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 50/2018-Central Tax concerning Section 51 of the CGST Act
Clarification on Import/Re-import of “Exhibits and Samples”
DGFT has clarified that the import or re-import of Indian-origin exhibition goods for display purposes does not require import authorization or registration under the Import Monitoring System.
DGFT Expands GAICT Coverage for SCOMET Items in Appendix 10M of FTP 2023
The DGFT has amended Appendix 10M of the Handbook of Procedures (HBP) 2023 to expand the coverage of items under Global Authorization for Intra-Company Transfer (GAICT) policy for export / re-export of items including software and technology under SCOMET Category 8
Interest Equalization Scheme Extended to December 31, 2024: Key Changes for MSMEs
The Government of India has extended the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit until December 31, 2024