Category: Latest News

CBDT Circular No. 15 of 2023 F. No.370142/28/2023-TPL dated 16-08-2023 Sub: Guidelines under clause (10D) of section 10 of the Income-tax Act, 1961 – reg. Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on any sum … Continue Reading →

CBDT launches revamped National Website of the Income Tax Department www.incometaxindia.gov.in New website is aesthetically redesigned for mobile-responsive layout and has ‘Mega Menu’ for content, with new features, and functionalities Guided virtual tour for all new additions and also new button indicators New functionalities on … Continue Reading →

CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer. Finance Act, 2023 brought in an amendment for the purposes of calculation of “perquisite” with regard to the value of rent-free or concessional accommodation provided to an employee, … Continue Reading →

Direct Tax Collections for F.Y. 2023-24 up to 10.08.2023 Posted On: 11 AUG 2023 5:35PM by PIB Delhi The provisional figures of Direct Tax collections up to 10th August, 2023 continue to register steady growth. Direct Tax collections up to 10th August, 2023 show … Continue Reading →

Number Date Subject 199/11/2023-GST 17-Jul-2023 Clarification regarding taxability of services provided by an office of an organisation in one State to the office of that organisation in another State, both being distinct persons. 198/10/2023-GST 17-Jul-2023 Clarification on issue pertaining to e-invoice. 197/09/2023-GST 17-Jul-2023 Clarification on … Continue Reading →

Circular No. 193/05/2023-GST Dated 17-07-2023Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs, GST Policy Wing Subject: Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in … Continue Reading →

CGST CircularNo. 192/04/2023-GST dated 17-07-2023 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs GST Policy Wing Subject: Clarification on charging of interest under section 50(3) of the CGST Act, 2017, in cases of wrong availment of … Continue Reading →

CBDT Circular No. 12 /2023 dated 12-07-2023 Subject: Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in an investment fund routed through an Alternative Investment Fund -reg. The CBDT Circular No. 14/2019 dated July 03, 2019 was issued … Continue Reading →

Recommendations of 50th meeting of GST Council PIB PRESS RELEASE DATED 11-07-2023 View source document: https://pib.gov.in/PressReleseDetailm.aspx?PRID=1938812 GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value GST Council recommends notification of GST Appellate … Continue Reading →

CBIC revised policy, the import of pocket lighters that are gas-fueled, non-refillable, or refillable is prohibited. However, import is "Free" if the CIF value is Rs. 20 or above per lighter. CBIC Instruction No. 21/2023-Customs F.No.401/41/2023-Cus.III Subject: – Amendment in import policy condition of … Continue Reading →