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DGGI sends show-cause notice to crypto exchange, seeks Rs 722 crore in GST | India News – Times of India

adminAugust 5, 202404 mins

AHMEDABAD: The Ahmedabad zonal unit of the Directorate General of GST Intelligence (DGGI) has issued a show-cause notice to a major cryptocurrency exchange, demanding Goods and Services Tax (GST) payment of Rs 722 crore. This marks the first time the DGGI has issued such a notice to a cryptocurrency firm, setting a precedent in India’s…

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Departing from India? Clearance certificate under Black Money Act required – Times of India

adminJuly 24, 202402 mins

MUMBAI: The Budget has tightened the provisions relating to clearance certificates that are required when departing from India. From October 1, a clearance certificate giving a clean chit under the Black Money Act will be required for persons domiciled in India, who are leaving India.At present, under section 230 of the Income-tax (I-T) Act, a…