GST Practitioners required to pass examination before 31.12.2018
Posted Date : 12-Jul-2018 , 10:14:38 pm | Posted By CASANSAAR
National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Service Tax Practitioners (GSTP) in terms of sub-rule (3) of rule 83 of the Central Goods and Service Tax Rules, 2017, vide Notificati...
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Income Tax |
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DIR-3 KYC will be available on MCA21 wef 14th July 2018
Posted Date : 12-Jul-2018 , 10:03:37 pm | Posted By CASANSAAR
DIR-3 KYC will be available on MCA21 Company Forms Download page w.e.f 14th July 2018 for filing purposes. Stakeholders are advised to plan accordingly.
#casansaar (Source - MCA Website)
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MCA |
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IBBI - MSDE announce training programme for new job role of Insolvency Associates
Posted Date : 12-Jul-2018 , 08:30:38 am | Posted By CASANSAAR
The Ministry of Skill Development and Entrepreneurship (MSDE) has announced the launch of a training programme for the new job role of ‘Insolvency Associates’, in partnership with Insolvency and Bankruptcy Board of India (IBBI).
The programme will provide the youth an opportunit...
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Insolvent Professional |
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Election Commission writes to CBDT on affidavits
Posted Date : 12-Jul-2018 , 08:19:10 am | Posted By CASANSAAR
The Election Commission has told the Central Board of Direct Taxes (CBDT) to create a uniform format for reporting discrepancies between the assets and liabilities shown by candidates in their affidavits and those declared to the Income-Tax Department.
It plans to make the findings public. ...
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CBDT |
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Lenders may be allowed to change NCLT bench
Posted Date : 12-Jul-2018 , 08:05:41 am | Posted By CASANSAAR
Lenders may be allowed to change National Company Law Tribunal benches if they face prolonged delays in insolvency resolution cases, according to a proposal being worked out by the ministry of corporate affairs. About 90% of the cases referred to the tribunal under Insolvency and Bankruptcy Code are...
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Insolvent Professional |
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Govt approves Idea Cellular and Vodafone India merger
Posted Date : 12-Jul-2018 , 07:48:17 am | Posted By CASANSAAR
Telecom Minister Manoj Sinha today said that the Government has approved the Idea Cellular and Vodafone India merger but the companies need to complete some formalities for the final closure of the deal.
The combined operations of Idea and Vodafone will create the country's largest telecom op...
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Merger & Acquisitions |
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Govt increase the monetary limits for filing Appeals at various levels
Posted Date : 11-Jul-2018 , 04:14:28 pm | Posted By CASANSAAR
In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels, be it Appellate...
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Income Tax |
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Govt plans Audit of CSR projects
Posted Date : 11-Jul-2018 , 08:13:22 am | Posted By CASANSAAR
The government has decided to overhaul the Corporate Social Responsibility (CSR) framework, and conduct audit of the welfare projects implemented by corporates under their CSR programme.
"A high level committee will be set up to suggest ways to improve CSR ecosystem as well as compliance of ...
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Auditing |
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RBI likely to extend deadline for filing of single master form
Posted Date : 11-Jul-2018 , 08:11:54 am | Posted By CASANSAAR
Faced with a technical snag, the Reserve Bank of India is likely to extend the deadline for filing of a single master form—that seeks to consolidate all foreign investment received by Indian firms.
Many firms have been unable to file the master form, the deadline for which is 12 July, with ...
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RBI |
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Bank of Baroda invites applications for post of CFO
Posted Date : 11-Jul-2018 , 08:10:13 am | Posted By CASANSAAR
Bank of Baroda (BoB), the country’s third-largest public-sector bank (PSB) by assets, on Tuesday sought applications for the post of chief financial officer (CFO). The last date for sending in applications is July 31. The appointment will be for a period of three years with yearly performance ...
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Banking |
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Bankruptcy law is the push Indian companies needed to pay up
Posted Date : 11-Jul-2018 , 08:00:57 am | Posted By CASANSAAR
India’s new bankruptcy law has instilled fear among delinquent borrowers and prompted several reluctant founders to repay outstanding debt due to the risk of losing their company, according to its insolvency regulator.
“There is a perceptible difference in the behaviour of borrowers a...
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Insolvent Professional |
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GST Council unveils draft of changes proposed to GST law
Posted Date : 11-Jul-2018 , 07:57:08 am | Posted By CASANSAAR
India has proposed a slew of changes to the year-old goods and services tax law, including an amendment to deny credit in lieu of accumulated balances of education cess, secondary and higher education cess, Krishi Kalyan cess, and additional excise duties levied on textile and textile articles. ...
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GST |
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GST Council next meeting scheduled on July 21
Posted Date : 10-Jul-2018 , 07:29:44 am | Posted By CASANSAAR
The next meeting of Goods and Services Tax (GST) Council scheduled on July 21 is likely to endorse 3 per cent cess on sugar. In its last meet on June 4, the Council had constituted a Group of Ministers (GOM) and authorised it to take a final call on the matter.
The new sugar cess will be ov...
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GST |
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NCLT rejects Cyrus Mistry’s plea against Tata Sons
Posted Date : 09-Jul-2018 , 09:39:24 pm | Posted By CASANSAAR
The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday dismissed the petition filed by Cyrus Mistry’s investment firms against Tata Sons, its chairman emeritus Ratan Tata and others. Mumbai NCLT’s division bench—presided by B.S.V. Prakash Kumar and V. Nallasenapathy...
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Companies Act |
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ICAI introduces UDIN for Documents Certified / Attested by CAs
Posted Date : 09-Jul-2018 , 03:19:45 pm | Posted By CASANSAAR
Unique Documents Identification Number (UDIN) is a unique number which is to be generated for every document certified / attested by practicing chartered accountants and will be registered with UDIN portal with effect from 1st July, 2018.
UDIN aims to address the concern of documents / certificat...
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ICAI |
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Set up central agency to evaluate big loan proposals - ICAI
Posted Date : 09-Jul-2018 , 08:22:51 am | Posted By CASANSAAR
Cost accountants' apex body ICAI has suggested constituting a central agency, with cost accountants and experts from other fields, to evaluate applications for large loans before banks give their approval.
The suggestion comes at a time when the country's banking system is grappling with ...
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ICAI |
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Govt, RBI mull database to track non-cash transactions
Posted Date : 09-Jul-2018 , 08:18:57 am | Posted By CASANSAAR
The government and the Reserve Bank of India (RBI) have begun discussions to put in place a 'search engine' or a database of all payment transactions in the country as they step up efforts to track black money and establish a money trail to investigate money laundering cases and operations o...
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RBI |
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UBI expects Rs 3,000 crore recovery from NCLT resolutions
Posted Date : 09-Jul-2018 , 08:03:36 am | Posted By CASANSAAR
United Bank of IndiaNSE 0.45 % is expecting to recover around Rs 3,000 crore out of a total of Rs 5,951 crore, by way of resolutions through the National Company Law Tribunal (NCLT), the public sector lender's MD and CEO Pawan Bajaj said .
Altogether 40 cases were referred to the ...
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Insolvent Professional |
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Scrap reverse charge, defer sops for digital payments - GST GoMs
Posted Date : 09-Jul-2018 , 07:59:26 am | Posted By CASANSAAR
A group of ministers (GoM) led by Bihar deputy chief minister Sushil Modi on Sunday decided to recommend to the GST council that a section in the GST Act concerning the reverse charge mechanism (RCM) be scrapped as “it discriminates against unregistered dealers while not adding much to the rev...
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GST |
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ICAI develops software to allot CAs for bank audits
Posted Date : 07-Jul-2018 , 08:09:07 am | Posted By CASANSAAR
To ensure transparency in the allotment of chartered accountants (CAs) for bank audits, the Institute of Chartered Accountants of India (ICAI) has developed a software that randomly selects the auditors and allots them to banks.
Speaking on the sidelines of a two-day national conference for ICAI ...
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Bank Branch Audit |
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GST evasion of Rs 2,000 crore detected in last few months - CBIC
Posted Date : 07-Jul-2018 , 08:00:44 am | Posted By CASANSAAR
The indirect-tax department has detected goods and services tax (GST) evasion of Rs 2,000 crore over the last few months, John Joseph, member, Central Board of Indirect Taxes and Customs (CBIC), said on Friday, adding that a tenth of this came to light only last week. Independent analysts have, howe...
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Income Tax |
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IBBI Circular Regarding Empanelment of Insolvency Professional Entities
Posted Date : 07-Jul-2018 , 07:43:28 am | Posted By CASANSAAR
An Insolvency Professional Entity (IPE) is recognised in accordance with regulation 12 (1) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, only if “its sole objective is to provide support services to the insolvency professionals, who are its partn...
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Insolvent Professional |
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SEBI revamps panel on alternative investment
Posted Date : 06-Jul-2018 , 09:05:12 pm | Posted By CASANSAAR
Markets regulator Sebi has reorganised the committee that advises it on matters pertaining to further development of the alternative investment and startup ecosystem in the country.
The Alternative Investment Policy Advisory Committee is chaired by Infosys Founder N R Narayana Murthy, as per the ...
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SEBI |
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Non-tariff charges in electricity bill to attract GST
Posted Date : 06-Jul-2018 , 08:01:43 am | Posted By CASANSAAR
Electricity bills can have a goods and services tax (GST) component at times. Non-tariff charges, which include application fee for releasing connection, rentals charged against metering equipment and labour charges for shifting of meters and service lines, are liable to taxed at 18% under the GST.
...
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GST |
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Banks finalise inter-creditor agreement to fast track NPA resolution
Posted Date : 06-Jul-2018 , 07:56:19 am | Posted By CASANSAAR
With a view to fast track NPA resolution, bankers on Thursday finalised the inter-creditor agreement (ICA) framework that envisages effective communication among lenders.
The ICA mechanism is expected to be enforced this month itself.
The non-performing assets (NPAs) in the banking sector cros...
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Banking |
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UK court grants enforcement order in Mallya assets case
Posted Date : 05-Jul-2018 , 10:33:58 pm | Posted By CASANSAAR
A UK High Court judge has issued an enforcement order in favour of a consortium of 13 Indian banks, seeking to recover funds owed to them by beleaguered liquor baron Vijay Mallya who is fighting extradition to India on fraud and money laundering charges worth nearly Rs 9,000 crore.
The order gran...
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Income Tax |
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RBI tightens Banks' Statutory Auditor rules
Posted Date : 05-Jul-2018 , 09:37:17 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday tightened rules on banks' statutory auditors saying it reserved the right to not approve appointments of such auditors for a specified period if their audit quality was not found satisfactory.
The Reserve Bank of India (RBI) said it will take...
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Bank Branch Audit |
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IBBI amends norms, notifies procedures for Homebuyers under IBC
Posted Date : 05-Jul-2018 , 09:35:35 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India has notified revised norms for the insolvency resolution process paving the way for homebuyers to seek relief as financial creditors, putting in place clear timelines to be followed by resolution professionals and permitting withdrawal of insolvency appli...
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Insolvent Professional |
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RBI grants licence to Bank of China to set up branch in India
Posted Date : 05-Jul-2018 , 09:31:04 am | Posted By CASANSAAR
The Reserve Bank of India has issued licence to Bank of China to launch operations in India, official sources said today.
Prime Minister Narendra Modi had made a commitment to Chinese President Xi Jinping to allow Bank of China to set up branches in India when they met on the sidelines of the SCO...
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RBI |
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Income Tax refunds worth Rs 70,000 crore issued, 99% claims processed - CBDT
Posted Date : 05-Jul-2018 , 09:24:41 am | Posted By CASANSAAR
Income Tax refunds worth over Rs 70,000 crore have been issued to the taxpayers and nearly all refund claims pending as on June-end has been processed, the Central Board of Direct Taxes (CBDT) said today.
The Income Tax Department had observed a dedicated fortnight from June 1-15, which was later...
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CBDT |
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