No change in the GST law and taxation relating to farmers since July, 2017
Posted Date : 28-May-2018 , 08:33:46 pm | Posted By CASANSAAR
No change in the GST law and taxation relating to farmers since July, 2017; Support Services to agriculture, forestry, fishing or animal husbandry are exempt from GST; Agriculturists are also exempted from taking GST Registration.
It has been reported in certain section of the Press that certain ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 921
|
 |
GST levied only on final clearance of goods from warehouse - CBIC
Posted Date : 27-May-2018 , 01:01:11 pm | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has asked its field offices to levy GST on goods in customs warehouse only at the time of final clearance.
The move is aimed at ensuring ease of doing business for importers, experts said.
In a circular to principal chief commissioners and...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 852
|
|
Income Tax dept releases all e-filing forms for AY 2018-19
Posted Date : 27-May-2018 , 12:51:18 pm | Posted By CASANSAAR
The Income Tax department has released all the e-filing forms for the assessment year 2018-19, and has set the last date for filing income tax returns at July 31.
All the forms are available for download on the income tax department's official website.
The Central Board of Direct Tax...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 784
|
|
RBI penalised 12 banks for various violations in last 6 years
Posted Date : 26-May-2018 , 10:33:03 am | Posted By CASANSAAR
In response to an RTI query, the RBI has informed that in the past 6 years, it has penalised only 12 banks for various violations. Without giving information on how many banks are yet to pay the penalty, the RBI list gives names of ICICI (Rs 589 million), Yes Bank (Rs 70 million), Airtel Payments Ba...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1233
|
|
ICAI issues valuation standards for members
Posted Date : 26-May-2018 , 10:15:08 am | Posted By CASANSAAR
Chartered accountants' apex body ICAI has issued a framework for consistent, uniform and transparent valuation practices for its members. The Institute of Chartered Accountants of India (ICAI), in a release, said that it has issued valuation standards as a benchmark for valuation practices appli...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1257
|
|
CBDT Chairman Sushil Chandra gets another one-year extension
Posted Date : 25-May-2018 , 09:14:09 pm | Posted By CASANSAAR
Senior bureaucrat Sushil Chandra was given one-year extension as the chairman of the Central Board of Direct Taxes (CBDT) till May next year.
This is his second extension after taking over as the chief of the CBDT, the apex policy making body of the Income Tax department, on November 1, 201...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 733
|
|
Govt readies IBC 2.0 to cope with increasing challenges
Posted Date : 25-May-2018 , 11:21:17 am | Posted By CASANSAAR
Last June, when the RBI ordered banks to initiate insolvency action against a dozen companies, resolution was expected by the end of the last financial year. But a series of legal cases by powerful promoters who are set to lose control over their companies, and a battle among rivals to acquire contr...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 889
|
|
CBDT chairman among top I-T officials under CBI lens in Nirav Modi case
Posted Date : 25-May-2018 , 12:28:00 am | Posted By CASANSAAR
The Nirav Modi case is becoming a sticky wicket for many investigators. Now, top income tax officials including Sushil Chandra, Chairman of the Central Board of Direct Taxes (CBDT), have come under the CBI lens for the alleged misreporting and sharing of investigation details with extortionists.
...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 2182
|
|
Roll out of e-Way Bill system for intra-State movement of goods in the Maharashtra, Manipur and Union Territories
Posted Date : 24-May-2018 , 07:56:53 pm | Posted By CASANSAAR
As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 1st April, 2018. As on 23rd May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujara...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 814
|
|
Arrest made by Central Tax, Delhi East Commissionerate involving GST evasion of Rs. 28 Crore
Posted Date : 24-May-2018 , 03:30:03 am | Posted By CASANSAAR
Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regi...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1163
|
|
Two Held for Fraud Under GST Act in Delhi
Posted Date : 24-May-2018 , 11:08:53 am | Posted By CASANSAAR
Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regi...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1475
|
|
FinMin ties up with e-commerce firms to give loans under PMMY
Posted Date : 24-May-2018 , 08:54:46 am | Posted By CASANSAAR
The finance ministry has joined hands with over two dozen e-commerce firms, including major players like Amazon, Flipkart, Ola and Uber, to provide easy finance to small entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY), a top government official said.
The three way partnership between l...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 1213
|
|
Application Form for the ISA Assessment Test June, 2018 - ICAI
Posted Date : 24-May-2018 , 08:52:26 am | Posted By CASANSAAR
Application Form for the Information Systems Audit (ISA) Assessment Test - June, 2018
Online Application Form
Hard Copy Application Form
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1422
|
|
Cabinet approves ordinance to give home buyers creditor status under IBC
Posted Date : 23-May-2018 , 07:15:30 pm | Posted By CASANSAAR
Approving making amendments to the insolvency and bankruptcy act, the cabinet has approved making home-buyers creditors in the insolvency process. Also part of the ordinance the government has planned is special provisions for medium and small enterprises.
These were, in fact, some of the recomme...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 816
|
|
Cabinet may consider amendments to Insolvency & Bankruptcy Code
Posted Date : 23-May-2018 , 09:12:19 am | Posted By CASANSAAR
The Cabinet is likely to consider amendments to the Insolvency and Bankruptcy Code (IBC) on Wednesday.
The government plans to promulgate an Ordinance to give effect to these changes since Parliament is not in session, sources said.
A draft note circulated to various stakeholders says it is lo...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 1086
|
|
Over 2,100 companies settle Rs 83,000 Crore Bank dues
Posted Date : 23-May-2018 , 09:07:12 am | Posted By CASANSAAR
The fear of losing control over their companies has prompted promoters, who have defaulted on repayment of loans to banks, to settle their dues of around Rs 83,000 crore before action was initiated under the newly-enacted Insolvency and Bankruptcy Code (IBC).
On last count, data compiled by the m...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1259
|
|
Canteen supplies provided by outside vendors to attract 18% GST - AAR
Posted Date : 22-May-2018 , 08:40:34 am | Posted By CASANSAAR
The Authority of Advanced Ruling (AAR) for the goods and services tax (GST) has ruled that firms supplying food and beverages to canteens of other organisations are ‘outdoor caterers’ and the service would attract an 18% GST.
The ruling was delivered by Gujarat AAR on an application f...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1137
|
|
Insurance now available for Insolvency Professionals
Posted Date : 22-May-2018 , 08:38:32 am | Posted By CASANSAAR
Insolvency Professionals (IPs) working on resolution process under the Insolvency and Bankruptcy Code (IBC) can now buy insurance covers for themselves. “The first such policy was designed by JLT Independent about three months back,” said Sanjay Radhakrishnan, CEO, of the insurance broki...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 1400
|
|
Damages paid for cancellation contract to attract 18% GST - AAR
Posted Date : 22-May-2018 , 07:42:32 am | Posted By CASANSAAR
The Authority for Advance Rulings (AAR) has ruled that payments in respect to nonperformance of a contract would be liable to goods and services tax (GST). This has made multinational companies, especially those executing infrastructure projects, and the mining sector jittery, and it could have impl...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1152
|
|
I-T Dept to file pleas in NCLT to extract tax dues of Shell Companies
Posted Date : 22-May-2018 , 07:36:36 am | Posted By CASANSAAR
The Income Tax (I-T) Department is an "aggrieved creditor" to many de-registered shell companies and will petition the National Company Law Tribunal (NCLT) to recover tax dues of crores of rupees.
The Central Board of Direct Taxes (CBDT) has directed the I-T Department to form a s...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1194
|
|
CBDT Releases Java Utility of ITR-5 & ITR-7
Posted Date : 22-May-2018 , 07:27:43 am | Posted By CASANSAAR
CBDT has finally released Java Utility for the Assessment Year 2018-19 of ITR-for 5 (For persons other than:- (i) Individual,(ii) HUF,(iii) Company and (iv) Person filing Form ITR-7) and Java Utility of ITR-7 [For persons including companies required to furnish return under sections 139(4A) or...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 1057
|
|
GST Council asks Centre, states to quickly set up appellate authorities
Posted Date : 21-May-2018 , 09:10:45 am | Posted By CASANSAAR
The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the Authority for Advance Rulings (AAR).
With AARs in different states started giving rulings since March, it has become imperative for the Centre as ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 841
|
|
PNB refuses to disclose details on over Rs 13,000 cr scam
Posted Date : 21-May-2018 , 09:08:02 am | Posted By CASANSAAR
State-run Punjab National Bank (PNB) has refused to disclose details of the audit or investigation that led to detection of over Rs 13,000 crore fraud at the company, citing a clause that bars any disclosure that can impede the process of investigating or apprehending the offenders.
In reply to a...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1189
|
|
First under IBC - Bhushan Steel bought by Tata Steel
Posted Date : 19-May-2018 , 07:58:30 am | Posted By CASANSAAR
With the acquisition of Bhushan Steel Ltd (BSL) for Rs.35,200 crore, Tata Steel has emerged the first company to acquire a stressed asset under the new Insolvency and Bankruptcy Code.
The company has received all the approvals and will own 73 per cent in the company. It will absorb all the employ...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 934
|
|
Income tax dept cautions TDS deductors against quarterly filing default
Posted Date : 19-May-2018 , 12:53:59 am | Posted By CASANSAAR
The Income Tax Department (ITD) cautioned TDS deductors to adhere to the stipulated deadline of May 31 for filing their statements failing which they would invite a penalty of Rs 200 for each day of default.
The Central Board of Direct Taxes (CBDT), that frames policy for the department, is...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 2022
|
|
SEBI votes for secretarial audits in listed companies
Posted Date : 19-May-2018 , 11:16:43 am | Posted By CASANSAAR
Market regulator Securities and Exchanges Board of India (SEBI) is not happy with the way secretarial audits are conducted in listed companies. It believes a lot of work needs to be done to improve the audits, which in turn, will improve corporate governance standards.
At an Institute of Company ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1132
|
|
Coaching centres for entrance exams liable to 18% GST - AAR
Posted Date : 19-May-2018 , 11:12:18 am | Posted By CASANSAAR
Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 percent GST, according to the Authority for Advance Rulings (AAR).
An application was filed before the Maharashtra bench of the AAR to seek advance ruling on whether the services related to provid...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 916
|
|
ITR-3 Java Utility has been released
Posted Date : 19-May-2018 , 11:00:11 am | Posted By CASANSAAR
ITR-3 Java Utility has been released by Income Tax Department.
With this, Taxpayers can now e-file their Tax Returns for AY 2018-2019 using the applicable ITR Forms 1, 2, 3 or/ 4. Remaining 3 ITR Forms Utilities are yet to be released. #casansaar
...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 1171
|
|
GSTR-3B due date extended till 22nd May 2018
Posted Date : 18-May-2018 , 11:24:09 am | Posted By CASANSAAR
In the interest of taxpayers, it has been decided to extend the last date for filing of return in FORM GSTR-3B for the month of April, 2018 for two days, i.e., till 22nd May, 2018. The notification in this regard shall be published shortly.
Earlier it was brought to the notice of the competent au...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1077
|
|
Sebi extends FPI monitoring deadline again
Posted Date : 18-May-2018 , 11:56:11 am | Posted By CASANSAAR
Markets regulator Sebi today further extended the deadline till June 1 for putting in place a new system for depositories to monitor the foreign investment limits in listed Indian companies.
The Securities and Exchange Board of India (Sebi) has extended the last day for the second time afte...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1028
|
|
|
