News - (Get Professional Updates on Whatsapp, Msg on 8285393786)
  • Quarterly GST returns may be for Small Firms
    Posted Date : 29-Sep-2017 , 07:56:26 am | Posted By CASANSAAR

    The Centre is considering a proposal from the industry to allow small firms to file quarterly returns even as they pay taxes on a monthly basis under the Goods and Services Tax (GST) regime. This follows the troubles these small firms are having regarding complying with the GST norms due to their...

    Continue Reading... Category : GST | Comments : 0 | Hits : 2650

  • Clarification on Payment of Service Tax in Transitional Period
    Posted Date : 29-Sep-2017 , 07:40:58 am | Posted By CASANSAAR

    Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017.  It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service was also made be...

    Continue Reading... Category : Service Tax | Comments : 0 | Hits : 1207

  • Income Tax dept fastens belt to add 1.25 cr new tax filers this fiscal
    Posted Date : 28-Sep-2017 , 04:55:40 pm | Posted By CASANSAAR

    The Income Tax Department has been tasked to add 1.25 crore new return filers in the current financial year as part of the government's plan to widen the tax base in the country. The Central Board of Direct Taxes (CBDT), that makes policy decisions for the I-T department, has directed the tax...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 554

  • GST Revenue Figures – As on 25th September, 2017
    Posted Date : 27-Sep-2017 , 08:21:58 am | Posted By CASANSAAR

    The Goods and Services Tax (GST) was introduced on 1st of July, 2017. In the press release dated 29th August, 2017, it was reported that the total revenue of GST paid under different heads for the month of July, 2017 (upto 29th August) was Rs. 92,283 crore. Out of the total GST collec...

    Continue Reading... Category : GST | Comments : 0 | Hits : 742

  • GST revenue collections in August at Rs 90,669 Cr
    Posted Date : 27-Sep-2017 , 08:19:39 am | Posted By CASANSAAR

    Goods and Services Tax (GST) revenue collections in August stood at 90,669 crore rupees.  Out of this, CGST revenue is 14,402 crore rupees, SGST 21,067 crore, IGST 47,377 crore and Compensation Cess is 7,823 crore rupees. This figure of GST revenue collection is upto 25th of September. ...

    Continue Reading... Category : GST | Comments : 0 | Hits : 489

  • SBI cuts minimum average balance from Rs 5000 to Rs 3000
    Posted Date : 26-Sep-2017 , 08:39:43 am | Posted By CASANSAAR

    SBI has lowered the average minimum balance requirement under its savings account for metro customers to Rs 3,000 from Rs 5,000 earlier following protests. The bank has also decided to do away with the minimum balance requirement for minors and pensioners and has reduced the penal charges. In a s...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 486

  • Individual and corporates advance tax filings under I-T scanner
    Posted Date : 26-Sep-2017 , 08:32:25 am | Posted By CASANSAAR

    The Income Tax (I-T) department is seeking an explanation from a number of corporate and individual tax assessees, who have filed their self-assessment for the past three years, for deferring their advance tax, reports Business Standard. The financial daily reports that the tax department suspect...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 506

  • Vijay Mallya diverted most of Rs 6000-cr loan to shell firms in 7 nations
    Posted Date : 25-Sep-2017 , 05:02:21 pm | Posted By CASANSAAR

    Strengthening the case for fugitive businessman Vijay Mallya's extradition from the United Kingdom, the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are reported to be preparing a charge sheet alleging the former liquor baron laundered a major chunk of the Rs 6,027-...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 454

  • Domain + Website + Hosting + 2 email ids @ Just Rs.3100/- with 30 days Money Back Guarantee.
    Posted Date : 25-Sep-2017 , 06:23:27 am | Posted By CASANSAAR

    CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to choose.  It will be completely your own space, which is going to be a Dynamic Website and could be edited as per your wish.  ...

    Continue Reading... Category : CA | Comments : 0 | Hits : 1295

  • RBI eases foreign investment regulations for corporate debt
    Posted Date : 23-Sep-2017 , 10:39:59 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) on Friday changed the rules pertaining to the calculation of the foreign investment limit in so-called masala bonds, potentially opening up space for Indian companies to sell more such securities. Starting 3 October, masala bonds, or rupee-denominated bonds sold ov...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 461

  • Income Tax deptt asks taxpayers to update their information on e-filing portal
    Posted Date : 23-Sep-2017 , 10:05:43 am | Posted By CASANSAAR

    Please note following changes in your Income Tax Profile. You may be required to update your Mobile Number and Email Address in your Income Tax Profile upon Login: 1. Now you need to provide your own email address + your own mobile number. 2. One Mobile Number & One Email Address can be us...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 838

  • GSTN ropes in 39 more companies as Suvidha providers
    Posted Date : 23-Sep-2017 , 09:54:43 am | Posted By CASANSAAR

    The GST Network, the agency in charge of the technological infrastructure for the Goods and Services Tax regime, has selected 39 more companies to become GST Suvidha Providers (GSPs). Companies like Zoho Corporation, Paynear as well as consulting bigwigs PwC and KPMG have made the cut this time. VG ...

    Continue Reading... Category : GST | Comments : 0 | Hits : 1206

  • Income Tax Deputy Commissioner, 2 others arrested in Rs 3 crore bribery case
    Posted Date : 23-Sep-2017 , 09:48:11 am | Posted By CASANSAAR

    The Central Bureau of Investigation (CBI) today arrested a Deputy Commissioner of Income Tax, Mumbai and his two accomplices in an alleged bribery of Rs three crore. The I-T Deputy Commissioner was picked up from the Aaykar Bhawan in Churchgate on Friday evening after arrest of one of his accompl...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 841

  • Tax Payers advised to confirm identities of Income Tax Search Authorities
    Posted Date : 23-Sep-2017 , 09:43:52 am | Posted By CASANSAAR

    The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law. However, instances have been brought to the notice of department wherein, certain unscrupulous...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 587

  • Clarification about Transition Credit in GST of Rs. 65000 Cr
    Posted Date : 23-Sep-2017 , 09:42:01 am | Posted By CASANSAAR

      There are lot of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as transition credit, the income of Governm...

    Continue Reading... Category : GST | Comments : 0 | Hits : 583

  • Notification Issued For GST Actionable Claim On Branded Food Products
    Posted Date : 23-Sep-2017 , 09:39:54 am | Posted By CASANSAAR

    The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, inter alia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name:  a) A brand registered as on 15.05.2017 under the Trademarks Act, 1...

    Continue Reading... Category : GST | Comments : 0 | Hits : 553

  • FM asks biz not to wait till last day to file GST returns
    Posted Date : 20-Sep-2017 , 10:03:36 pm | Posted By CASANSAAR

    With 75 per cent of businesses waiting till the last day to file August GST returns, Finance Minister Arun Jaitley today asked them to avoid last-minute rush for tax filing. He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a...

    Continue Reading... Category : GST | Comments : 0 | Hits : 444

  • Notification regarding GST rate for branded cereal, pulses and flour
    Posted Date : 20-Sep-2017 , 09:40:12 pm | Posted By CASANSAAR

    The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name:  a) A brand registered as on 15.05.2017 shall be deemed to be a regi...

    Continue Reading... Category : GST | Comments : 0 | Hits : 392

  • Tax audit assessees including Companies may face additional tax compliance burden
    Posted Date : 20-Sep-2017 , 08:01:29 am | Posted By CASANSAAR

    To get a better perspective of the likely reliable flow of tax revenues to the exchequer in a fiscal year, the Central Board of Direct Taxes (CBDT) has decided to usher in a self-reporting mechanism for corporates for their estimated incomes, tax payments and advance tax liability. The proposed m...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1115

  • Fast-track GST refund, else Rs 65K cr may be stuck - Exporters
    Posted Date : 20-Sep-2017 , 07:54:52 am | Posted By CASANSAAR

    Fearing that a staggering Rs 65,000 crore could get stuck in GST refunds, exporters today asked the government to fast-track the refund process and avoid further deterioration in their "liquidity situation". The Committee on Exports, chaired by Revenue Secretary Hasmukh Adhia, today met...

    Continue Reading... Category : GST | Comments : 0 | Hits : 606

  • Voluntary Reporting of Estimated Current Income and Advance Tax Liability
    Posted Date : 19-Sep-2017 , 09:31:01 pm | Posted By CASANSAAR

    A taxpayer who is liable to discharge part of its tax liability by way of advance tax has to bear additional burden of interest for default of advance tax, in case total advance tax paid for the year falls short of the assessed tax by ten percent or more. This interest is levied as per the provision...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 316

  • CBEC tells field officers to take GST disputes to Supreme Court
    Posted Date : 19-Sep-2017 , 09:20:33 am | Posted By CASANSAAR

    Central Board of Excise and Customs (CBEC), the indirect tax administration of the union government, on Monday instructed its field officers to prepare to move the Supreme Court on all disputes where levy of goods and service tax (GST) has been questioned or stayed by any high court. The instruct...

    Continue Reading... Category : GST | Comments : 0 | Hits : 545

  • List Of Disqualified Directors U/S 164 (2)(A) - MCA
    Posted Date : 19-Sep-2017 , 08:50:51 am | Posted By CASANSAAR

    MCA Released the List of Directors Disqualified u/s 164 (2)(A)   Please click on the desired RoC to view the list of Disqualified Directors. RoC Ahmedabad RoC Bangalore RoC Chandigarh RoC Chennai RoC Chhattisgarh RoC Coimbatore RoC Cuttack RoC Delhi RoC Ernakulam RoC...

    Continue Reading... Category : MCA | Comments : 0 | Hits : 3272

  • Big 4 accounting firms on IBA's list of forensic auditors
    Posted Date : 19-Sep-2017 , 08:47:51 am | Posted By CASANSAAR

    he Big 4 auditors -- KPMG, EY, Deloitte and PricewaterhouseCoopers -- figure in the list of entities that have been empanelled by the Indian Banks' Association (IBA) to do forensic audit of frauds in banks. The number of banking fraud cases involving Rs 1 lakh and above is on the rise, which ...

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 883

  • Only 6.9 lakh taxpayers filed GST returns
    Posted Date : 19-Sep-2017 , 08:43:54 am | Posted By CASANSAAR

    With the deadline for filing Goods and Services Tax (GST) returns for August coming to an end in less than 72 hours, only 6.9 lakh taxpayers have filed their GSTR-3B- a short summary return, at the end of Monday, said sources familiar with the development. The government expects tax returns from abo...

    Continue Reading... Category : GST | Comments : 0 | Hits : 1005

  • 160 companies to get notices on transitional GST credits
    Posted Date : 19-Sep-2017 , 08:38:39 am | Posted By CASANSAAR

    Several Indian companies, including some large entities, may start receiving notices from Monday on transitional tax credits in the run-up to the introduction of the single producer levy, two people with direct knowledge of the developments told ET. The notices from the indirect-tax department fo...

    Continue Reading... Category : GST | Comments : 0 | Hits : 514

  • Check Online ICAI Membership Fees Payment Status
    Posted Date : 17-Sep-2017 , 10:15:12 pm | Posted By CASANSAAR

    Last Date for payment of Membership fees for the year 2017-18 are 30th September 2017. Following is the link where you can check whether your fees are paid or still pending http://112.133.194.253/reprintletter/memberp.aspx Please pay Membership and COP fee before 30th September, ...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 6285

  • Income Tax department goes after defunct companies for tax frauds
    Posted Date : 18-Sep-2017 , 08:22:12 am | Posted By CASANSAAR

    The tax office is reopening old records of many companies that have wound up and no longer exist in the books of the government — something the revenue department has rarely done in the past.  Former directors of such closely-held private companies, which have received tax notices alon...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 867

  • GoM admits to glitches in network delaying GST filings
    Posted Date : 17-Sep-2017 , 10:05:12 pm | Posted By CASANSAAR

    Technical glitches and procedural problems galore on the GST Network have delayed payments and filing of returns under the new Goods and Services Tax (GST) regime, a Group of Ministers (GoM) admitted on Saturday.  "Technical glitches, procedural problems and absence of some forms on the...

    Continue Reading... Category : GST | Comments : 0 | Hits : 386

  • GST Composition Scheme registration open till Sept. 30
    Posted Date : 17-Sep-2017 , 11:33:34 am | Posted By CASANSAAR

    The GST Network said it has reopened the facility for small taxpayers with turnover of upto 75 lakh rupees to opt for composition scheme. Such small taxpayers will have time till September 30 to opt for the scheme, which offers easy compliance for business as returns are to be filed only quarterly. ...

    Continue Reading... Category : GST | Comments : 0 | Hits : 460

Search News
News By Categories More Categories

Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR