Lowering of e-invoicing threshold will extend the digital application to the MSME sector and benefit the business ecosystem by reducing costs, rationalising errors, and processing invoices quicker
According to ED, statutory audit of IFIN has been made by Deloitte Haskins & Sells LLP between FY09 and FY18 and by BSR & Associates for FY18
A special drive starting May 16 to weed out bogus GST invoices
Aim is to curb fraudulent practices
GST cess on high-end products, tobacco, and aerated drinks fetched Rs 12,025 crore
Sebi may exercise info-sharing rights under IOSCO, MoUs with nations
Deadline to submit status report is May 2
Targets adding 10% new filers in FY24, raising base to about 86 million
Certain automobile dealers appointed by insurers/insurance intermediaries allegedly billed commission in excess of Irdai cap
DGGI alleges tax credit claimed on expenses was much higher than prescribed limit
Apex body releases interim action plan for the first half of FY24
Notices seeking explanation served to start-ups
Two probe teams formed under Sebi Chairperson Madhabi Puri Buch
Gross direct tax collection increased 173 per cent to over Rs 19.68 trillion in 10 years to 2022-23
Mumbai's share in overall kitty remains highest, but down at about 30% now
Decides on applicability of Section 271C under Income-Tax Act
Uncertainty over OECD's global tax deal affects collection in FY23
Apex court also allows retrospective application of rule
The RBI has a mandate to keep retail inflation at 4 per cent within a band of 2 percentage points on either side
This means crude oil, aviation turbine fuel (ATF), and petrol will not attract windfall tax