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Posted Date : 26-Dec-2018 , 11:50:36 am | Posted By CASANSAAR
Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than ₹80,000 crore in the year passing-by and the kitty is expected to swell beyond ₹1 trillion in 2019 with several big-ticket default ...
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Posted Date : 24-Dec-2018 , 01:05:24 pm | Posted By CASANSAAR
The Union government plans to create a backstop facility for states to receive compensation for three additional years to implement the nationwide goods and services tax (GST) after the expiry of the first five years as mandated by the Constitution. This is aimed at ensuring that states grappling wi...
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Posted Date : 22-Dec-2018 , 06:08:43 pm | Posted By CASANSAAR
GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates on goods and services. The decisions of the GST Council have been presented in this note for easy understanding. The same would be given effect to through...
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Posted Date : 22-Dec-2018 , 06:07:26 pm | Posted By CASANSAAR
GST Council in the 31stmeeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, ITC eligibility criteria, exemptions andclarificationson connected issues.The decisions of the GST Council have been presented in this note in simple languagefor ea...
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Posted Date : 22-Dec-2018 , 06:06:14 pm | Posted By CASANSAAR
The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: There would be a single cash ledger for each tax head. The modalities for implementation would be finalised in consultation with GSTN and the Accounting authorities. A scheme of ...
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Posted Date : 22-Dec-2018 , 06:05:30 pm | Posted By CASANSAAR
The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them: Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed - Law Committee...
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Posted Date : 21-Dec-2018 , 11:05:25 am | Posted By CASANSAAR
Auditors of 204 listed companies put in their papers in little over seven months starting from January 1 this year, the government said Tuesday. "Since January 1, 2018 to July 17, 2018, auditors of 204 listed companies have resigned as per filings in the MCA 21 registry," Minister...
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Posted Date : 21-Dec-2018 , 11:01:11 am | Posted By CASANSAAR
The government has decided to set up an expert committee to look into all the taxation issues being faced by startups and angel investors, the CBDT said Thursday. It added that "no coercive action or measures to recover the demands of completed assessment under income tax would be take...
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Posted Date : 20-Dec-2018 , 10:19:24 pm | Posted By CASANSAAR
The government has sanctioned prosecution proceedings against 284 companies and sent 5,382 notices to companies that have not fulfilled the mandatory corporate social responsibility (CSR) expenditure norms, minister of state for corporate affairs P P Chaudhary has said. Companies with a net...
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Posted Date : 20-Dec-2018 , 10:15:12 pm | Posted By CASANSAAR
The government moved the Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday seeking to appoint Vijay Kumar and N. Srinivasan to the board of debt-laden Infrastructure Leasing and Financial Services Ltd (IL&FS). However, the tribunal directed the government— represented b...
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Posted Date : 20-Dec-2018 , 10:09:59 pm | Posted By CASANSAAR
Lok Sabha on Thursday passed the Consumer Protection Bill, 2018 that seeks to replace the Consumer Protection Act, 1986. The Bill enforces consumer rights and provides a mechanism for redressal of complaints regarding deficiencies in goods and services. It seeks to establish Consumer Disput...
Continue Reading... Category : General | Comments : 0 | Hits : 275
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Posted Date : 18-Dec-2018 , 09:36:00 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) vide its guidelines issued on 6.4.2018 on ‘Cash Management activities of the banks - Standards for engaging the Service Provider and its sub-contractor’, advised banks to put in place certain minimum standards in their arrangements with the service provi...
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Posted Date : 18-Dec-2018 , 04:04:31 pm | Posted By CASANSAAR
GSTN will focus on the development of new return filing, further improving the user interface, and Business Intelligence and Analytics. While the new return is yet to be notified, GSTN has started development of the components in which major changes are not expected. Improvement in User Interface on...
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Posted Date : 18-Dec-2018 , 10:11:30 am | Posted By CASANSAAR
The Supreme Court suggested that operational creditors of bankrupt companies be given a voice in the resolution proceedings in proportion to their debt, including voting rights. In some cases, even the operational creditors’ debt is huge but at present they don’t have a say...
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Posted Date : 18-Dec-2018 , 09:05:49 am | Posted By CASANSAAR
The Corporate Affairs Ministry plans to amend the rules for incorporation of companies as part of efforts to provide more clarity on norms related to availability of names. The ministry, which is implementing the Companies Act, has sought comments from the public on the proposed changes to ...
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Posted Date : 18-Dec-2018 , 08:54:41 am | Posted By CASANSAAR
The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI). Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation...
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Posted Date : 18-Dec-2018 , 08:53:18 am | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla informed Parliament that Public Sector Banks (PSBs) have recovered 2.33 lakh crore rupees worth of bad loans during the four years from financial year 2014-15 to fiscal 2017-18. In a written reply to the Lok Sabha yesterday, Mr Shukla informe...
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Posted Date : 15-Dec-2018 , 01:50:07 pm | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla has clarified that Public Sector Banks (PSBs) do not have any plans to shut down their ATMs. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of clo...
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Posted Date : 13-Dec-2018 , 09:18:40 am | Posted By CASANSAAR
Markets regulator SEBI has initiated adjudication proceedings against NSE as well as around 30 entities in the exchange's co-location matter. Speaking to reporters in Mumbai yesterday after its board meeting, SEBI Chairman Ajay Tyagi said adjudication has started against 28 to 30 indivi...
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Posted Date : 12-Dec-2018 , 06:03:37 pm | Posted By CASANSAAR
The government has detected GST evasion worth Rs 12,000 crore in 8 months till November, a senior tax official said Wednesday. Central Board of Indirect Taxes and Customs (CBIC) member John Joseph said despite the electronic way or E-way bill mechanism there has been rampant evasion and the...
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Posted Date : 12-Dec-2018 , 08:51:39 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding (MoU) with the Indian Institute of Management, Ahmedabad for open-enrolment and customized training programs exclusively for Chartered Accountants. The MoU is likely to benefit the Chartered Accountant...
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Posted Date : 11-Dec-2018 , 02:20:41 pm | Posted By CASANSAAR
Former bureaucrat Shaktikanta Das, who spearheaded the post-demonetisation normalisation of the economy, was Tuesday named the new governor of the Reserve Bank of India. Das, 61, replaces Urjit Patel, who shocked the establishment and markets by announcing his exit from the central bank Monday. ...
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Posted Date : 11-Dec-2018 , 09:02:35 am | Posted By CASANSAAR
The government has made the National Pension System (NPS) more attractive for investors, with the biggest bonanza going to 18 lakh central government employees. The Centre will contribute 14% of basic salary to their pension corpus, up from 10%. The employee’s contribution will remain at 10%, ...
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Posted Date : 11-Dec-2018 , 08:53:56 am | Posted By CASANSAAR
The provisional figures of Direct Tax collections for 2018-19 up to November this year show that Gross Collections are at 6.75 lakh crore rupees. This is 15.7 percent higher than the Gross Collections for the corresponding period of last year. Finance Ministry said in a release that refunds amoun...
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Posted Date : 10-Dec-2018 , 05:48:40 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing "personal reasons". "On account of personal reasons, I have decided to step down from my current position effective immediately," he said in a brief statement releas...
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Posted Date : 10-Dec-2018 , 08:59:17 am | Posted By CASANSAAR
The statutory auditors of Infrastructure Leasing and Financial Services (IL&FS) Ltd – the parent company of debt-laden IL&FS Group - and two of its subsidiaries, IL&FS Transportation Networks Ltd (ITNL) and IL&FS Financial Services Ltd (IFIN), have been held “prima facie ...
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Posted Date : 09-Dec-2018 , 01:13:56 pm | Posted By CASANSAAR
The government has extended the deadline for filing goods and services tax annual returns and the related audited reports by three months to March 31 next year. Previously the due date for the same was December 31, 2018. "The competent authority has decided to extend the due date for f...
Continue Reading... Category : GST | Comments : 0 | Hits : 678
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Posted Date : 09-Dec-2018 , 01:04:08 pm | Posted By CASANSAAR
Are you a senior citizen and your bank is still deducting TDS on your interest income which is less than Rs 50,000 in a financial year? Here’s good news for you. The Central Board of Direct Taxes has clarified that in the case of senior citizens, no TDS (tax deducted at source) is required to ...
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Posted Date : 09-Dec-2018 , 12:47:51 pm | Posted By CASANSAAR
In a bid to ensure greater transparency, Reserve Bank has proposed that floating interest rates on personal, home, auto and MSMEs loans be linked to external benchmarks like repo rate or treasury yields. In a statement issued from Mumbai yesterday, RBI said that the final guidelines to link the inte...
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Posted Date : 09-Dec-2018 , 12:45:07 pm | Posted By CASANSAAR
It is brought to the notice of buyers of constructed property that there is no GST on sale of complex/ building and ready to move-in flats where sale takes place after issue of completion certificate by the competent authority. GST is applicable on sale of under construction property or re...
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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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