GST evasion worth Rs 12,000 crore detected between April-Nov
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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GST |
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0 | Hits : 1713
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ICAI and IIM Ahmedabad sign MoU for training of Chartered Accountants
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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ICAI |
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0 | Hits : 2181
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Shaktikanta Das appointed as the new RBI Governor
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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RBI |
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0 | Hits : 1198
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Govt makes NPS withdrawal 100% tax exempt
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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Income Tax |
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0 | Hits : 1746
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Direct Tax Gross collections for 2018-19 upto November are at Rs 6.75 lakh Cr
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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Income Tax |
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0 | Hits : 947
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RBI Governor Urjit Patel Resigns
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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RBI |
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0 | Hits : 1173
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ICAI accuses 3 top audit firms of professional misconduct for IL&FS crisis
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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ICAI |
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1 | Hits : 4030
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Govt extends due dates for filing GST Annual returns, Audit reports to March 31 2019
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...
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GST |
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0 | Hits : 1163
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No TDS on interest income up to Rs 50,000 in case of senior citizens - CBDT
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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CBDT |
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0 | Hits : 1432
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RBI proposes new method to benchmark floating rate of loans for MSMEs
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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RBI |
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0 | Hits : 981
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GST - Effective tax rate on complex, building, flat etc
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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GST |
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0 | Hits : 1569
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Humble Appeal for Vote & Support for KHURANA VIVEK - CC B.N.13
Posted Date : 07-Dec-2018 , 05:54:15 pm | Posted By CASANSAAR
Respected Professional Colleagues,
I seek your whole hearted support for my candidature for CENTRAL COUNCIL Election (Northern Region), BALLOT No. 13.
I would request You to talk to your near and dear CAs from Northern Region (Delhi, Haryana, Punjab, Himachal Pradesh, Chandigarh and Jammu...
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Category :
ICAI Election |
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0 | Hits : 862
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SC appoints Grant Thornton as forensic auditor for Unitech, directs disbursal of Rs 174 crore
Posted Date : 07-Dec-2018 , 11:05:38 pm | Posted By CASANSAAR
The Supreme Court on Friday appointed Grant Thornton as the forensic auditor of Unitech. The company will look into the financials of group companies and 74 projects that Unitech has been working on from 1st January 2006.
The apex court has given Grant Thornton one weeks' time to draft terms ...
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Category :
Auditing |
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0 | Hits : 771
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Govt appoints Krishnamurthy Subramanian as new Chief Economic Advisor
Posted Date : 07-Dec-2018 , 11:02:32 pm | Posted By CASANSAAR
The government today appointed Dr Krishnamurthy Subramanian as the new Chief Economic Advisor.Dr Subramanian will have a tenure of three years.
The Appointments Committee of the Cabinet has cleared his name. He is currently working as an Associate Professor in Indian Schoo...
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Category :
General |
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0 | Hits : 719
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Registration for Opportunities in Abroad - Helpline
Posted Date : 06-Dec-2018 , 09:05:24 am | Posted By CASANSAAR
We are getting overwhelming response for opportunities in aboard from Members, Accordingly CASANSAAR have decided to proceed further in this direction.
Our Team are in the process of discussion with various agencies across the world and In the result of our continuous efforts Various a...
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Category :
Chartered Accountant |
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7 | Hits : 3505
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Support to CASANSAAR - Vote for Khurana Vivek in CC S.N.13
Posted Date : 06-Dec-2018 , 05:24:27 am | Posted By CASANSAAR
Respected Professional Colleague,
Greetings of the Day!!!
CA.VIVEK KHURANA (Founder of CASANSAAR) and his team are serving for CA profession from last Eight years and trying to do there best with the medium of CASANSAAR.COM
Now CA.VIVEK KHURANA has filed Nomination for ...
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Category :
ICAI Election |
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0 | Hits : 892
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Simplified GST return forms to be rolled out from April 1 - Rev Secretary
Posted Date : 06-Dec-2018 , 08:30:23 am | Posted By CASANSAAR
The new simplified GST return forms will be rolled out from April 1, 2019, revenue secretary Ajay Bhushan Pandey said on Tuesday.
He exuded confidence that the government will achieve the budgeted target for Goods and Services Tax (GST) collection and said the revenue department is getting inputs...
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Category :
GST |
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0 | Hits : 997
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I-T department working on pre-filled income tax return forms - CBDT
Posted Date : 06-Dec-2018 , 08:25:27 am | Posted By CASANSAAR
Income tax payers will soon get pre-filled ITR forms that will make the process of filing returns easier, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has said.
The tax department is working on the pre-filled income tax return (ITR) forms which would be based on tax deducted...
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CBDT |
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0 | Hits : 1145
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RBI keeps key rates unchanged
Posted Date : 06-Dec-2018 , 08:12:32 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Wednesday expectedly kept interest rates unchanged but held out a promise to cut them if the upside risks to the inflation do not materialise.
It also coaxed banks to lend more in order to support the slowing economy.
With all the six member of the monetary poli...
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RBI |
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0 | Hits : 819
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E-commerce firms not liable to collect TCS from suppliers with less than Rs.20 lakh turnover
Posted Date : 04-Dec-2018 , 09:51:10 am | Posted By CASANSAAR
The e-commerce companies are not liable to collect TCS on supplies made by entities with turnover not exceeding ₹20 lakh and are not registered under GST, the CBIC has said.
As per Goods and Services Tax (GST) provisions, beginning October 1, 2018, e-commerce companies deduct 1% tax collected a...
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Category :
GST |
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0 | Hits : 1260
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Over 18.10 lakh registered companies, only 62% active at end of October
Posted Date : 04-Dec-2018 , 09:45:27 am | Posted By CASANSAAR
The country has more than 18 lakh registered companies but only 62 per cent of them were actively functioning at the end of October, according to official data.
The majority of active companies were engaged in business services.
With more than 6.46 lakh companies shuttered and many others unde...
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Category :
Companies Act |
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0 | Hits : 868
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Sebi extends deadline for shares in Demat form to April 1
Posted Date : 04-Dec-2018 , 09:43:49 am | Posted By CASANSAAR
Markets regulator Sebi Monday extended the deadline for transfer of shares of listed companies only in demat form to April 1.
The last date has been extended after taking into consideration representations from shareholders as the initial deadline was to end on December 5.
Shares in the ...
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Shares & Stock |
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0 | Hits : 1213
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Govt clears Rs 91,149 cr GST refunds to exporters so far; Rs 6,053 Cr still pending
Posted Date : 04-Dec-2018 , 09:41:45 am | Posted By CASANSAAR
The finance ministry Monday said Rs 91,149 crore has been issued so far to exporters as GST refunds, which are 93.77 per cent of total claims with the tax authorities.
In a statement, the ministry said Rs 6,053 crore worth GST refund is still pending with the government and that is being "ex...
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Category :
GST |
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0 | Hits : 712
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Bank of Maharashtra appoints CA Rajeev as MD and CEO
Posted Date : 03-Dec-2018 , 06:58:18 am | Posted By CASANSAAR
State-owned Bank of Maharashtra announced on Sunday that AS Rajeev has joined the lender as its managing director and chief executive officer.
"AS Rajeev has joined Bank of Maharashtra as managing director and chief executive officer on Dec. 2, 2018. Prior to this, he was executive director ...
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Category :
Banking |
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0 | Hits : 1303
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GST Amnesty scheme likely for Nil, Non-Filers
Posted Date : 03-Dec-2018 , 06:49:40 am | Posted By CASANSAAR
The Goods and Services Tax (GST) Council may consider one-time amnesty scheme to facilitate exit for ‘nil’ filers and non-filers.
“Approximately there are 25 lakh ‘nil’ filer assessees while on an average 10 per cent of assessees have never filed returns so far,&rdqu...
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GST |
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0 | Hits : 5418
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SBI to auction 3 NPA accounts to recover Rs 2,111 crore dues
Posted Date : 03-Dec-2018 , 06:43:57 am | Posted By CASANSAAR
The country’s largest lender SBI has put up for sale three of its non-performing loan accounts to recover dues of Rs2,110.71 crore. An e-auction will take place on 13 December for the sale of these three accounts 0151 Sona Alloys Pvt Ltd, MCL Global Steel Pvt Ltd and Jayaswal Neco Industries.
...
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NPA |
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0 | Hits : 964
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GST collection for November stands at Rs. 97,637 Cr
Posted Date : 03-Dec-2018 , 06:38:23 am | Posted By CASANSAAR
The GST collection in the month of November this year stood at 97 thousand and 637 crore rupees. The collection in October had crossed one lakh crore rupees.
The revenue collected in November relates to transactions made in October.
According to an official release, out of th...
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Category :
GST |
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0 | Hits : 752
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Centre, states apportion Rs 33,000 crore IGST in November
Posted Date : 01-Dec-2018 , 01:33:25 am | Posted By CASANSAAR
As much as Rs 33,000 crore lying in the integrated goods and services tax (IGST) pool has been apportioned between the centre and states in November.
The states' share would be over Rs 16,000 crore, the official said.
The apportionment would add to the goods and services tax (G...
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Category :
GST |
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0 | Hits : 743
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Govt extends deadline for filing TDS returns under GST for Oct-Dec to Jan 2019
Posted Date : 01-Dec-2018 , 07:00:07 am | Posted By CASANSAAR
The government has extended the due date of filing tax deducted at source (TDS) returns under GST laws for the October-December period till January 31, 2019. The TDS provisions under the goods and services tax (GST) were brought into effect from October 1, 2018.
According to the Central GST (CGST...
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Category :
GST |
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0 | Hits : 940
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Dr. Ajay Bhushan Pandey takes over as Revenue Secretary
Posted Date : 01-Dec-2018 , 06:57:47 am | Posted By CASANSAAR
Dr. Ajay Bhushan Pandey (IAS: MH 1984) took over as the Union Revenue Secretary upon superannuation of Dr Hasmukh Adhia here today. Outgoing Finance Secretary & Revenue Secretary, Dr Hasmukh Adhia welcomed Dr Pandey in his office. A Maharashtra cadre officer, Dr. Pandey will continue to head the...
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Category :
Finance |
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0 | Hits : 791
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