Govt asks RBI to suggest on PSU Bank merger
Posted Date : 25-Jul-2018 , 08:24:16 am | Posted By CASANSAAR
The government has asked the RBI to examine the possibility of merger among public sector banks to achieve synergy and scale operation, Minister of State for Finance Shiv Pratap Shukla said today.
The minister in a written reply to the Rajya Sabha said that there is no timeline has been fix...
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Banking |
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Fin Creditors have realized claims of app Rs. 47,426.75 Cr in 26 cases under IBC
Posted Date : 25-Jul-2018 , 02:49:47 am | Posted By CASANSAAR
The Financial Creditors have realized claims of approximately Rs. 47,426.75 crore in 26 cases where resolution plans are submitted under the IBC framework since its enactment.
The Union Minister of State further stated that the Insolvency & Bankruptcy Code lays down a time bound and transpa...
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Income Tax |
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New business valuation rules soon - IBBI
Posted Date : 24-Jul-2018 , 08:23:42 am | Posted By CASANSAAR
India will soon lay down the ground rules for professionals to assess the value of businesses, including those slipping into bankruptcy, according to Insolvency and Bankruptcy Board of India (IBBI) chairperson M.S. Sahoo.
The new valuation rules will apply to corporate transactions like mergers a...
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Insolvent Professional |
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National Anti-Profiteering Authority to Audit e-commerce companies
Posted Date : 24-Jul-2018 , 08:14:10 am | Posted By CASANSAAR
Even before the GST came into effect on July 1, one of the stated objectives of the Central government was to eliminate multiple taxes and passes down the benefit to end consumers with a reduction in the prices of goods and services.
In an attempt to further reduce the burden of tax on end consum...
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GST |
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Fin Min refuses to share black money reports
Posted Date : 24-Jul-2018 , 08:00:59 am | Posted By CASANSAAR
The Finance Ministry has refused to share copy of three reports on the quantum of black money held by Indians inside the country and abroad, saying its disclosure would cause a breach of privilege of Parliament.
The then UPA government had in 2011 commissioned these studies by Delhi-based Nationa...
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Black Money |
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IBC eyes UN model for cross-border norms
Posted Date : 23-Jul-2018 , 10:11:20 am | Posted By CASANSAAR
The Government is looking at the possibility of adopting a United Nations legal model for cross-border insolvency cases as it works on strengthening the insolvency resolution framework, according to a senior official.
The Insolvency and Bankruptcy Code (IBC) has sections pertaining to cross-borde...
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Insolvent Professional |
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CBDT instructs Income Tax Dept to add 1.25-cr fresh tax filers this year
Posted Date : 23-Jul-2018 , 10:03:38 am | Posted By CASANSAAR
The Central Board of Direct Taxation (CBDT) has directed the Income Tax Department to add at least 1.25 crore fresh tax filers from across the country - the highest being from Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir - in view of increased economic activities.
The directions have b...
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CBDT |
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Changes / Exemptions in GST Rates on Services
Posted Date : 21-Jul-2018 , 04:53:54 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rate...
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GST |
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Recommendations made during the 28th GST Council Meeting held on 21st July 2018
Posted Date : 21-Jul-2018 , 04:46:08 pm | Posted By CASANSAAR
The GST Council in its 28thmeeting held here today has recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act.
2. The major recommendations are as detailed below:
Upper limit of t...
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GST |
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GST Council recommends GST rates reduction on several goods & for specified handicraft items
Posted Date : 21-Jul-2018 , 10:00:52 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions on GST Rate on Goods .
GST rates reduction on 28% items:
28% to 18%
...
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GST |
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GST council approves Simplified GST Return
Posted Date : 21-Jul-2018 , 04:16:15 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri PiyushGoyal , Union Minister for Railways , Coal , Finance & Corporate Affairs has approved the new return formats and associated changes in law. It may be recalled that in the 27thmeeting held on 4thof May, ...
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GST |
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Recommendations on opening of migration window for tax payers till 31st August ,2018
Posted Date : 21-Jul-2018 , 04:14:43 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today has approvedthe proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process.
The taxpayers who filedPart A of FORM GST REG-26, but not Part B of ...
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GST |
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Govt slashes GST rate on several products
Posted Date : 21-Jul-2018 , 09:29:42 pm | Posted By CASANSAAR
Conceding a year long demand, sanitary pads today exempted from GST as the GST Council reduced tax rates on an array of daily use appliances and products.
While GST tax on sanitary pads was cut from 12 per cent to zero, rakhis were exempted from the tax, Finance Minister Piyush Goyal told reporte...
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GST |
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NCLAT allows lenders to meet and finalise Bhushan Power bid
Posted Date : 21-Jul-2018 , 07:38:56 am | Posted By CASANSAAR
The National Company Law Appellate Tribunal (NCLAT) today gave a go-ahead to the lenders' meeting of debt-ridden Bhushan Power & Steel (BPSL), directing it to finalise a bid for the company.
Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of...
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Insolvent Professional |
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Pass Percentage & List of Toppers in CA Final May 2018 Exams
Posted Date : 20-Jul-2018 , 01:34:39 pm | Posted By CASANSAAR
The Result of Chartered Accountants Final Examination has been declared.
www.casansaar.com
The Details of Percentage of candidates passed in the above said examinations are given below.
No. of Candidates
Passed Candidates
Pass %
...
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CA Results |
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National GST appellate tribunal on anvil, Council to decide on July 21
Posted Date : 20-Jul-2018 , 08:48:31 am | Posted By CASANSAAR
The GST Council will consider setting up of a National Appellate Tribunal in Delhi with three regional benches with members from judiciary as well as tax departments to hear appeals against the order of the appellate authority set up by states under the GST regime.
According to the proposal...
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GST |
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RBI to hold joint Audit of credit rating agencies with SEBI
Posted Date : 20-Jul-2018 , 08:20:07 am | Posted By CASANSAAR
Credit rating agencies will come under closer regulatory watch amid corporates battling bankruptcies, lenders taking hefty haircuts, and banks trying to prune sticky loans. The Reserve Bank of India (RBI) will conduct regular audit and inspection of rating agencies whose actions can significantly in...
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RBI |
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MCA invites applications from Chartered Accountants having 2 to 5 years of experience
Posted Date : 20-Jul-2018 , 08:17:35 am | Posted By CASANSAAR
Ministry of Corporate Affairs (MCA) invites applications from Chartered Accountants (CAs) having 2 to 5 years of post-qualification experience as Consultant in the MCA Offices located all over India. – (19-07-2018)
Announcement
Ministry of Corporate Affairs (MCA) invites applications fro...
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MCA |
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Cabinet clears bills to amend IBC and withdraw FRDI
Posted Date : 20-Jul-2018 , 08:07:03 am | Posted By CASANSAAR
The government is set to withdraw the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017 following persistent opposition and widespread concern over the controversial ‘bail-in’ clause.
The union cabinet gave its nod to the withdrawal of the bill on Wednesday, people aw...
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Insolvent Professional |
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Good Luck - CA Final, ISA & CPT Exam Results 2018 Likely to be announced today
Posted Date : 20-Jul-2018 , 07:46:15 am | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in May 2018 and Common Proficiency Test (CPT) held in June 2018 are likely to be declared on Friday, the 20th July 2018 around 6.00 P.M. and the same will be available on the following websites:
...
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CA Results |
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CBDT directs tax sleuths to survey, inspect high value transactions
Posted Date : 19-Jul-2018 , 08:27:34 am | Posted By CASANSAAR
Banking companies, co-operative banks, trustees of mutual funds (MFs), post offices, registrars, and others who are mandated to file the statement of financial transaction (SFT) report on high-value transactions have come under the income-tax department’s (I-T) scanner. The Central Board of Di...
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CBDT |
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Govt decides to withdraw contentious FRDI Bill
Posted Date : 19-Jul-2018 , 07:59:25 am | Posted By CASANSAAR
The National Democratic Alliance (NDA) government has decided to withdraw the contentious Financial Resolution and Deposit Insurance Bill 2017, or FRDI Bill, and is awaiting the cabinet’s nod to move Parliament for this as the government looks to avoid controversial legislation ahead of the 20...
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General |
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NCLT cannot take decision on bids for Bhushan Steel - SC
Posted Date : 18-Jul-2018 , 11:11:14 pm | Posted By CASANSAAR
The Supreme Court on Tuesday passed an order that prevents the National Company Law Tribunal (NCLT) against taking any final decision on bids for the debt-stricken Bhushan Power & Steel (BPSL).
BPSL promoter Sanjay Singal had filed a petition against “a lacuna in valuation of the ...
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Insolvent Professional |
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Cabinet approves ICAI's pacts with NBAA, BIBF
Posted Date : 18-Jul-2018 , 11:07:41 pm | Posted By CASANSAAR
The government today gave its approval to the Institute of Chartered Accountants of India's pacts with Tanzania's National Board of Accountants and Auditors (NBAA) and Bahrain Institute of Banking and Finance (BIBF), according to separate official statements.
The Union Cabinet, chaired by...
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ICAI |
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Grievance Redressal Officers for processing the complaints/information under e-way Bill System
Posted Date : 18-Jul-2018 , 05:17:57 pm | Posted By CASANSAAR
As per the decision of the GST Council, e-way bill system has been rolled-out in a staggered manner across the country. E-way bills are getting generated successfully and till 17th July, 2018, more than Thirteen Crore and Fifty Lakh e-way bills have been generated which includes Six Crore ...
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GST |
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0 | Hits : 1718
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Rajya Sabha passes the State Banks Repeal & Amendment Bill, 2017
Posted Date : 18-Jul-2018 , 10:44:32 pm | Posted By CASANSAAR
The Rajya Sabha has passed the State Banks (Repeal and Amendment) Bill,2017 . The House adopted the amendment moved by the government regarding the bill. The Bill seeks to repeal the State Bank of India (Subsidiary Banks) Act, 1959, the State Bank of Hyderabad Act, 1956 and further to amend th...
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General |
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NCLAT stays voting by Bhushan Power & Steel lenders on finalising bids
Posted Date : 18-Jul-2018 , 07:57:37 am | Posted By CASANSAAR
The NCLAT today stayed the meeting of Committee of Creditors (CoC) of Bhushan Power and Steel Ltd to vote on finalisation of bids of the debt-ridden firm.
The National Company Law Appellate Tribunal (NCLAT) also pulled up the Resolution Professional (RP) of the company, Mahendra Kumar Khandelwal,...
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Corporate Law |
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CBDT instructs taxmen to withdraw appeals below threshold
Posted Date : 18-Jul-2018 , 07:49:45 am | Posted By CASANSAAR
Following the government’s move increasing the threshold for appeals filed by the direct taxes department in order to reduce litigation, the Central Board of Direct Taxes (CBDT) on Tuesday directed its field offices to withdraw by August 20 the appeals pending before tribunals and courts that ...
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CBDT |
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MCA panel may offer penal relief for some offences
Posted Date : 17-Jul-2018 , 09:18:00 am | Posted By CASANSAAR
The government is looking to decriminalise some of the offences in the Companies Act of 2013 so that courts are freed of these cases to focus on more important ones.
The ministry of corporate affairs (MCA) has set up a 10-member committee to review the penal provisions in the Act.
...
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MCA |
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SEBI extends time to collect PAN, bank details of securities holders
Posted Date : 17-Jul-2018 , 09:11:19 am | Posted By CASANSAAR
Markets regulator Sebi today extended deadline till September-end for registrar and share transfer agents (RTAs) to seek PAN as well bank details of shareholders holding securities in physical form. The last date has been extended after taking into consideration, representations from various quarter...
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SEBI |
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