Discover the latest updates on GST law changes, personal income tax rates, and tax reliefs for small businesses as discussed in Rajya Sabha on 30/07/2024.
CBIC detected Rs. 36,374 crore worth of fake ITC in FY 2023-24 involving 9,190 cases. Key measures and data on ITC fraud detection detailed in the report.
ICAI amends AS 22 for non-company entities, introducing exceptions and disclosure requirements for deferred tax related to Pillar Two income taxes. Effective April 1, 2024.
SEBI seeks public comments on proposed amendments to the Insider Trading Regulations, aiming to expand the definition of connected person without increasing compliance requirements.
On 29th July 2024, the Ministry of Finance addressed the delay in GST registration for businesses in Lok Sabha Unstarred Question No. 1059. Minister of State Shri Pankaj Chaudhary provided details on the average approval times: 8.61 days for applications without clarifications and 17.69 days for those needing further information. The overall average approval time […]
Explore the Lok Sabha query on technical glitches in the IT portal and TRACES. Learn about processing delays, PAN-Aadhaar issues, and government responses.
Details on penalties for not maintaining AMB in savings accounts, criteria for calculation, and government’s stance on rationalizing these charges.
ICAIs Auditing and Assurance Standards Board releases an Exposure Draft for audits of less complex entities. Comments invited until September 9, 2024.
The Indian Government has recognized over 1.4 lakh startups as of June 2024, promoting innovation and investment through various initiatives under the Startup India scheme.
TRAI has released a consultation paper on reviewing Telecom Consumer Protection Regulations 2012, focusing on tariff offerings, voucher validity, and more. Feedback by Aug 16.
