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Posted Date : 19-May-2021 , 08:30:33 am | Posted By CASANSAAR
The Finance Minister had in her Budget Speech this year announced that the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR, 2017) would be amended to boost trade facilitation. Accordingly, the Central Board of Customs and Indirect Taxes( CBIC) had immediately enhanced the sc...
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Posted Date : 19-May-2021 , 08:29:36 am | Posted By CASANSAAR
ICAI lost case against the student & the court awarded legal costs to be paid to the petitioner. ICAI faces humiliation in Court for withholding result of a CA student sighting Derogatory remarks in social media. Fine of Rs 20k on ICAI for withholding result of a CA Student & adv...
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Posted Date : 15-May-2021 , 06:18:13 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman will chair the 43rd GST Council meeting via video conferencing at 11 A.M. in New Delhi on 28th of this month. The meeting will be attended by Minister of State for Finance, Anurag Thakur besides Finance Ministers of States & UTs and senior officers from Uni...
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Posted Date : 14-May-2021 , 08:52:09 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has, vide order dated May 10, 2021 cancelled the licence of United Co-operative Bank Ltd., Bagnan, West Bengal. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. The Registrar of Cooperative Societies, West...
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Posted Date : 20-Apr-2021 , 06:46:39 pm | Posted By CASANSAAR
The Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved a fresh Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Chartered Accountants Australia and New Zealand (CA ANZ). Impact: The MRA intends to develop mutually beneficial ...
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Posted Date : 20-Apr-2021 , 06:41:33 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi gives ex-post facto approval for the Government amendments to the Finance Bill, 2021 (enacted on 28th March, 2021 as the Finance Act, 2021). The amendments were essential to clarify and rationalise the proposals furthe...
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Posted Date : 19-Apr-2021 , 09:11:31 am | Posted By CASANSAAR
The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills, to help intercept stuck trucks at toll plazas and check GST evasion. The tax officers would also be provided analysis reports on identifying e...
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Posted Date : 19-Apr-2021 , 09:03:14 am | Posted By CASANSAAR
In reply to RTI by Nitin Pandurang Hargude on requirement of signing of project report, un-audited financials and certificate for utilisation of loan funds vide Order No. DOR0021/04.03.001/2020-21 dated April 03 2021 RBI has replied...
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Posted Date : 17-Apr-2021 , 09:58:23 am | Posted By CASANSAAR
To ensure speedy disposal of more than 35 lakh cheque bounce cases pending in various courts, the Supreme Court on Friday gave a number of directions, including asking the government to amend the laws to allow clubbing of multiple trials in cases filed for a same transaction against anyone. To av...
Continue Reading... Category : General | Comments : 0 | Hits : 1894
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Posted Date : 15-Apr-2021 , 07:39:13 am | Posted By CASANSAAR
The National Law Institute University (NLIU) had submitted the Expression of Interest to the Insolvency and Bankruptcy Board of India (IBBI) for the conduct of the Graduate Insolvency Program (GIP) on 15 January, 2021. A month later, the IBBI formally approved NLIU for conducting the Graduate Ins...
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Posted Date : 13-Apr-2021 , 08:16:18 am | Posted By CASANSAAR
Reserve Bank of India (RBI) on Monday said that Real-Time Gross Settlement (RTGS) facility will not be be available for at least 14 hours on 18 April. "A technical upgrade of RTGS, targetted to enhance resilience & to further improve disaster recovery time of RTGS system, is scheduled af...
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Posted Date : 13-Apr-2021 , 08:13:47 am | Posted By CASANSAAR
Capital markets watchdog Sebi on Monday came out with fresh guidelines on reporting formats for mutual funds. The formats for the reports to be submitted byasset management companies (AMCs) to trustees, by AMCs to Sebi and by trustees to the regulator have been revised on the basis of consultatio...
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Posted Date : 10-Apr-2021 , 08:46:18 am | Posted By CASANSAAR
The Hon. Supreme Court Stays Disciplinary Proceedings against Petitioners in TAR Matters of ICAI. Writ Petition (C) No. 371 of 2021 along with IA No. 41905/20201 was listed today as item No. 10 before Hon'ble Mr. Justice Sanjay Kishan Kaul and Hon'ble Mr. Justice Heman...
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Posted Date : 10-Apr-2021 , 08:21:58 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India has notified the pre-packaged insolvency resolution process regulations for micro, small and medium enterprises (MSMEs) on Friday. The norms, effective from Friday, enable the operationalisation of the prepack process, according to a statement from the...
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Posted Date : 10-Apr-2021 , 08:15:14 am | Posted By CASANSAAR
Direct Tax collections for the last financial year show growth of almost five per cent despite the challenges posed by the Covid-19 pandemic. Finance Ministry informed that the provisional figures of Direct Tax collections for the Financial Year 2020-21 show that net collections are at 9.45...
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Posted Date : 09-Apr-2021 , 08:15:41 am | Posted By CASANSAAR
Companies have argued against the constitutional validity of arrest provisions under the goods and services tax (GST) laws in their present form in the Supreme Court. The court took up the matter of arrest provisions and applicability of the Criminal Procedure Code (CrPC) to the Customs Act, GST ...
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Posted Date : 09-Apr-2021 , 08:05:42 am | Posted By CASANSAAR
The Central government set a payment default of ₹10 lakh as the trigger for bankruptcy proceedings of small businesses under the new simplified scheme called pre-packs. The finance ministry said in a tweet that this would be the minimum threshold of payment default for micro, small and...
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Posted Date : 08-Apr-2021 , 09:59:29 am | Posted By CASANSAAR
The Supreme Court on Tuesday slammed the manner in which the Goods and Services Tax was being enforced by tax authorities and observed that the taxman cannot see all businesses as being fraudulent. The Parliament had aimed to give the GST a citizen-friendly tax structure. But, the purpose of the ...
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Posted Date : 06-Apr-2021 , 08:37:37 am | Posted By CASANSAAR
The Income Tax Department has launched the offline utility for taxpayers filing ITR - 1 and 4 for 2020-21 fiscal year. The offline utility is available on the e-filing portal and is based on new technology JSON (JavaScript Object Notation), which is a light weight format for storing data. The ...
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Posted Date : 06-Apr-2021 , 08:05:39 am | Posted By CASANSAAR
Bank Branch Audit 2021 - Update on allotment of Branches As per information received, RBI has approved the Bank Branch Audit Panel. Banks start sending mails for allotment of Branches.. Following Banks has started sending emails for allotment of branches as informed by Me...
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Posted Date : 05-Apr-2021 , 08:41:23 am | Posted By CASANSAAR
Clearing the air over taxability of gift cards or vouchers, the Tamil Nadu bench of the AAAR has ruled that GST would be levied on the underlying goods/ services at the time of redemption such pre-paid instruments. Kalyan Jewellers India Ltd has approached the Appellate Authority for Advance Ruli...
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Posted Date : 05-Apr-2021 , 07:51:06 am | Posted By CASANSAAR
Govt has allowed further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST. These tax filers will now be permitted to declare invoices pertaining to movement of goods and services in their quarterly return form GSTR 1 to be filed ...
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Posted Date : 02-Apr-2021 , 09:10:52 am | Posted By CASANSAAR
The Central Board of Direct Taxes has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 vide Notification no.21/2021 in G.S.R. 242(E) dated 31.03.2021. Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change have been...
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Posted Date : 02-Apr-2021 , 09:09:51 am | Posted By CASANSAAR
GST Revenue collection for March 2021 has set a new record with highest ever collection of 1 lakh 23 thousand 902 crore rupees. The GST revenue collected in the last month is 27 per cent higher than that collected in March last year. The Finance Ministry has informed that GST revenues of Ma...
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Posted Date : 01-Apr-2021 , 09:19:02 am | Posted By CASANSAAR
Steep cuts on interest rates on small savings schemes, announced last evening, were rolled back by the government today with Finance Minister Nirmala Sitharaman declaring that "orders issued by oversight" would be withdrawn. The cuts in schemes ranging from the National Savings Certificate...
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Posted Date : 01-Apr-2021 , 09:08:16 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday extended the deadline for processing recurring online transactions to September 30, 2021, from March 31, 2021. Banks and payment gateways had sought additional time to comply with the RBI directive on automatic recurring payment. "To prevent any i...
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Posted Date : 01-Apr-2021 , 09:01:41 am | Posted By CASANSAAR
The government on Wednesday slashed interest rates on small saving schemes, including public provident fund (PPF) and national savings certificate (NSC) for the first quarter (Q1) of financial year 2021 with effect from April 1. In an official notification, the finance ministry said: "In exe...
Continue Reading... Category : General | Comments : 0 | Hits : 361
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Posted Date : 01-Apr-2021 , 08:56:11 am | Posted By CASANSAAR
In view of the COVID-19 pandemic, certain time limits specified under the various tax and Benami laws have been extended by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications issued under this Act. The extended last date for intimat...
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Posted Date : 01-Apr-2021 , 08:55:13 am | Posted By CASANSAAR
With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoic...
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Posted Date : 01-Apr-2021 , 08:53:18 am | Posted By CASANSAAR
In recognition of the continuing adverse impact of COVID-19 pandemic on certain service sectors, the Government has now extended the scope of Emergency Credit Line Guarantee Scheme (ECLGS) through introduction of ECLGS 3.0 to cover business enterprises in Hospitality, Travel & Tourism, Leisure &...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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