Author: NewsTaxIndia

Here is the Latest Small Saving Scheme Interest Rate Table (April – June 2026) for schemes offered by the Government of India through the India Post and Ministry of Finance. Interest rates are unchanged for the April–June 2026 quarter. 📊 Latest Small Saving Scheme Interest … Continue Reading →

Ministry of Finance Recommendations of 53rd GST Council Meeting GST Council recommends waiving interest and penalties for demand notices issued under Section 73 of the CGST Act (i.e. the cases not involving fraud, suppression or wilful misstatement, etc.) for the fiscal years 2017-18, 2018-19 and … Continue Reading →

CBIC vide Instruction No. 01/2024-GST dated 30-05-2024, addressing the Guidelines for initiation of recovery proceedings before three months from the date of service of demand order concerning the Central Goods and Services Tax Act, 2017 (CGST Act). This instruction is directed to all Principal Chief … Continue Reading →

The Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary Notification No. 44/2024/F.No.370142/10/2024-TPL dated 24-05-2024 the Cost Inflation Index for Financial Year 2024-25 (AY 2025-26) is 363. GOVERNMENT OF INDIA MINISTRY OF … Continue Reading →

CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely misplaced Apprehensions are about … Continue Reading →

Order No. F.No.Val20L9-NS Government of India Ministry of Finance Department of Economic Affairs dated 08-03-2024: The interest rate for several small savings schemes will remain unchanged for April-June 2024 quarter of the upcoming financial year. Small savings schemes Interest rates for April-June 2024 Savings deposits … Continue Reading →

PIB Posted On: 07 MAR 2024 6:37PM by PIB Delhi The Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, started an investigation in October 2023 into a large syndicate that fraudulently claimed Input Tax Credit (ITC) by way of fake billing. … Continue Reading →

Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024 Direct Tax collection, Net of refunds stands at Rs. 14.70 lakh crore with Y-o-Y growth of 19.41% Net Corporate Income Tax (CIT) grows at 12.37% and … Continue Reading →

The Central Board of Indirect Taxes And Customs (CBIC) has extended the deadline for filing FORM GSTR-3B for November 2023 until December 27, 2023. As suggested by the Council under section 39(1) and rule 61(1)(i) of the Central Goods and Services Tax Rules, 2017, the … Continue Reading →

RBI/2023-24/93 A.P. (DIR Series) Circular No.11 December 22, 2023 To All Category-I Authorised Dealer Banks Madam/Sir, Liberalised Remittance Scheme (LRS) for Resident Individuals- Reporting of monthly return and daily transactions Attention of all Authorised Dealer Category-I (AD Category- I) banks is invited to A.P. … Continue Reading →