Major Corruption Bust: CGST Superintendent Arrested for ₹5 Lakh Bribe in Nashik The Central Bureau of Investigation (CBI) conducted a major anti-corruption operation, arresting a high-ranking official of the Central Goods and Services Tax (CGST) department in Nashik. Key Details of the Incident Official Arrested: A Superintendent-level officer from the CGST department in Nashik was… Read More »
ITR REFUND PROCESSING रिफंड का इंतजार करने वाले हुए निराश ! INCOME TAX LATEST UPDATE
Penalty under section 271B for non-audit not leviable when commission income did not exceed threshold. Brief Facts The assessee, an individual, filed their return of income for the Assessment Year (AY) 2022-23, declaring a taxable income of Rs 5,04,770, which included net commission income1. The assessee was engaged in collecting money from the public… Read More »
GST Price Watchdog DGAP Set to Wind Down The Directorate General of Anti-Profiteering (DGAP), the dedicated price monitoring and enforcement body under the Goods and Services Tax (GST) regime, is reportedly set to wind down operations. Key Details and Reason for Closure DGAP’s Role: The DGAP was initially established to investigate complaints and… Read More »
GST Rate Cuts to Directly Benefit Farmers: FM Sitharaman Finance Minister Nirmala Sitharaman stated that the recent Goods and Services Tax (GST) rate rationalization, which reduced taxes on numerous goods, is specifically intended to provide direct financial benefits to farmers. Key Benefits for the Farming Sector Cheaper Agricultural Inputs: The GST cuts… Read More »
Battery Recycling Firm Faces GST Probe in Uttar Pradesh The article reports that a battery recycling firm is facing a Goods and Services Tax (GST) investigation in Uttar Pradesh over allegations of tax irregularities. Key Details of the Probe Sector: The investigation targets a company operating in the battery recycling industry. Location: The probe is… Read More »