Recommendations made on GST Rate changes on services by the 25th GST Council Meeting
Posted Date : 18-Jan-2018 , 10:26:48 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley Chaired the 25th Meeting of the GST Council in New Delhi today. The Council has recommended many relief measures regarding GST rates ongoods and services covering many sectors and commodities. The Council has also recommended issuance of ...
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GST |
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GST Council discusses making return filing process simpler
Posted Date : 18-Jan-2018 , 10:52:31 am | Posted By CASANSAAR
The all-powerful GST Council today veered around the idea of making the GST return filing process simpler to ease compliance burden for small businesses.
The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting today decided to reduce ta...
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GST |
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GST Council reduces tax rate on 29 goods and 53 categories of services
Posted Date : 18-Jan-2018 , 10:20:58 pm | Posted By CASANSAAR
Goods and Services Tax Council has reduced the tax rate on 29 goods and 53 categories of services by bringing them in lower category. The new rates will be effective from 25th of this month.
The GST rate on tailoring service has been reduced from 18 to 5 percent and tax on entry services to...
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GST |
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Shell Companies’ directors under the scanner for wiring illegal funds
Posted Date : 18-Jan-2018 , 09:28:16 am | Posted By CASANSAAR
After a crackdown against more than 2.5 lakh defaulting companies since demonetisation, the Serious Fraud Investigation Office (SFIO) has begun probe into the role of directors, who were on the board of multiple mailbox entities that were allegedly used to wire illegal fund transfers.
SFIO, which...
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Companies Act |
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RBI says all 14 types of Rs 10 coin valid, legal tender
Posted Date : 18-Jan-2018 , 09:06:07 am | Posted By CASANSAAR
Dispelling rumours and addressing the reluctance of traders to accept Rs 10 coins, the Reserve Bank of India said that all of the 14 designs of the coin are valid and legal tender for transactions. "It has come to the notice of the Reserve Bank that in certain places there is reluctance on part...
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RBI |
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Price Waterhouse moves SAT against SEBI's two-year ban ruling
Posted Date : 18-Jan-2018 , 09:03:01 am | Posted By CASANSAAR
Price Waterhouse has moved the Securities Appellate Tribunal (SAT) against the Securities and Exchange Board of India (Sebi) order which has barred it from taking up audit of listed companies for a period of two years.
Beside PW, Sebi has also barred two of its partners for a period of three year...
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Income Tax |
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GST Council to meet in Delhi today
Posted Date : 18-Jan-2018 , 08:46:49 am | Posted By CASANSAAR
The GST Council will meet in New Delhi today. During the meeting, the Council may consider a host of proposals to simplify filing of returns and registration of large entities. Among other things, the Council will review the preparedness of GST Network (GSTN) in handling the return filing process as...
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GST |
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Pass Percentage & Toppers of CPT December 17 Exams
Posted Date : 18-Jan-2018 , 08:45:09 am | Posted By CASANSAAR
The result of the Common Proficiency Test held in DECEMBER 2017 was declared recently.
The details of percentage of candidates passed in the above said examinations are given below:
GENDER
No. of candidates appeared
No. of candidates passed
% of...
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CA Results |
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Pass Percentage & Toppers of CA Final Nov.17 Exams
Posted Date : 17-Jan-2018 , 06:39:18 am | 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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Good Luck - CA Final, ISA & CPT Exam Results 2017 Likely to be announced today
Posted Date : 17-Jan-2018 , 03:33:25 am | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in November 2017 and Common Proficiency Test (CPT) held in December 2017 are likely to be declared on Wednesday, the 17th January 2018 around 8.00 P.M. and the same will be available on the following website...
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CA Results |
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Govt to deregister 1.20 lakh more Shell Companies
Posted Date : 17-Jan-2018 , 08:22:49 am | Posted By CASANSAAR
The Government on Tuesday said it has decided to strike off the names of 1.20 lakh more companies from the official records for various non-compliances as part of its continuing crackdown on “shell companies” to tackle the black money menace.
Nearly 2.26 lakh companies have already be...
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Companies Act |
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GST e-way Bill System rolled out on trial basis
Posted Date : 17-Jan-2018 , 08:16:47 am | Posted By CASANSAAR
The Finance Ministry has rolled out the nationwide e-way Bill System for inter-state movement of goods on trial basis from Tuesday.
The GST provision requiring transporters to carry an electronic waybill will be implemented from February 1 for inter-state movements.
The e-way bill system elimi...
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GST |
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FinMin clears the air on situations where US tax identity number not available
Posted Date : 16-Jan-2018 , 08:39:17 am | Posted By CASANSAAR
The Finance Ministry has made life easier for the Indian Reporting Financial Institutions (RFI) to comply with the Inter-governmental Agreement (IGA) under FATCA in situations where US Tax Identity Number (TIN) is not available for pre-existing accounts (as of June 30, 2014).
It has now advised...
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International Business |
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UIDAI permits face recognition for Aadhaar authentication
Posted Date : 16-Jan-2018 , 08:33:03 am | Posted By CASANSAAR
Aadhaar will include face recognition alongside iris or fingerprint scan as a means of verifying users, helping those who face issues in biometric authentication or have worn-out fingerprints, the authority in charge of the national identity card system said today.
The face authentication will be...
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General |
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GST could see major changes before Budget
Posted Date : 15-Jan-2018 , 08:16:35 am | Posted By CASANSAAR
The Goods and Services Tax (GST) Council has lined up a slew of relief measures, including simplifying procedures for returns filing and relaxation of tax on agriculture implements, at its upcoming meeting on Thursday, according to sources.
On the agenda are rationalisation of GST on agricultural...
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GST |
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Govt plans review of functioning of independent directors
Posted Date : 14-Jan-2018 , 04:31:28 pm | Posted By CASANSAAR
The government plans to carry out a comprehensive review of the functioning of independent directors, including analysing the reasons for their exit from the boards of companies, as part of efforts to strengthen the corporate governance framework.
The corporate affairs ministry, which is implemen...
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Companies Act |
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Took action on members in Satyam case - ICAI
Posted Date : 13-Jan-2018 , 08:04:06 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) on Friday said that it has taken action against members in the Satyam case, however, it has "no powers" to take action against CA firms.
ICAI's statement comes days after market regulator Sebi barred Price Waterhouse Network of ...
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ICAI |
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Nation celebrates 155th birth anniversary of Swami Vivekananda
Posted Date : 12-Jan-2018 , 09:31:25 am | Posted By CASANSAAR
Nation is celebrating the 155th birth anniversary of Swami Vivekananda today.
One of the greatest spiritual leaders of India Swami Vivekananda had introduced Indian philosophies of Vedanta and yoga to the western world.
He became popular in the western world after his famous speech...
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General |
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Govt amends FDI policy to promote local Audit firms
Posted Date : 11-Jan-2018 , 09:36:03 pm | Posted By CASANSAAR
The government has quietly slipped in a swadeshi move while liberalising the foreign direct investment (FDI) rules by mandating that overseas auditors will have to undertake joint audit if an international investor insists on audit by a global firm, or its Indian affiliate.
This marks a major shi...
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Auditing |
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Income tax dept attaches benami properties worth Rs 3,500 crore
Posted Date : 12-Jan-2018 , 09:03:23 am | Posted By CASANSAAR
Buying real estate in the names of proxies and depositing demonetized cash in bank accounts of multiple employees were among the ways tax evaders laundered unaccounted wealth after the November 2016 demonetisation of high-value banknotes, the income tax department said on Thursday.
Intensive effo...
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Income Tax |
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Price Waterhouse set to lose Audit of 77 listed companies
Posted Date : 12-Jan-2018 , 08:57:05 am | Posted By CASANSAAR
The hit on Price Waterhouse (PW) has opened up new business opportunities worth over Rs 1 billion for other auditing firms in the country. The Securities and Exchange Board of India (Sebi) had on Wednesday banned PW from auditing listed companies for two years.
Pw was the statutory auditor for 85...
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Auditing |
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Govt is considering to establish Database of Independent Directors
Posted Date : 12-Jan-2018 , 08:49:02 am | Posted By CASANSAAR
The Union Minister of State for Ministry of Law, Justice and Corporate Affairs, Shri P.P. Chaudhary said that Independent Directors are watchpersons of Corporate entities. The MOS (Law, Justice and Corporate Affairs), Shri Chaudhary was delivering the Inaugural Address after inaugurating the two-day...
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Companies Act |
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CA Final Nov 2017 & CPT Exam Result to be Declared on 17th Jan 2018
Posted Date : 11-Jan-2018 , 05:33:18 am | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in November 2017 and Common Proficiency Test (CPT) held in December 2017 are likely to be declared on Wednesday, the 17th January 2018 around 2.00 P.M. and the same will be available on the following websites:
&n...
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CA Results |
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Income Tax Dept warns of 7-year jail term and hefty fine in Benami Transactions
Posted Date : 11-Jan-2018 , 09:43:05 am | Posted By CASANSAAR
The Income-Tax Department on Wednesday warned people to “keep away” from benami transactions, cautioning that violations under the newly enacted law invites criminal prosecution and rigorous imprisonment up to seven years.
The department put out its alert in an advertisement published...
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Income Tax |
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Existing NBFC cannot operate as peer-to-peer lender - RBI
Posted Date : 11-Jan-2018 , 08:58:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) notified that existing non-banking financial companies cannot operate as peer-to-peer lenders. Further, new applicants for peer-to-peer lending license will need to provide the list of promoters and the source of funds for the minimum capital requirement of Rs20mn, th...
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RBI |
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SEBI bans PwC entities from issuing audit certificates for 2 yrs in Satyam Case
Posted Date : 11-Jan-2018 , 08:50:13 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) has barred auditor major Price Waterhouse's network entities from issuing audit certificates to any listed company in India for two years after finding it guilty in the multi-crore Satyam scam.
It also ordered disgorgement of over 13 cro...
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SEBI |
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No extension of date for filing return in FORM GSTR-1
Posted Date : 11-Jan-2018 , 08:48:48 am | Posted By CASANSAAR
The last date for filing of return in FORM GSTR-1, for different classes of taxpayers for the relevant periods, as shown in the Table below, remains 10th January, 2018. There has been no further extension of date for filing return in FORM GSTR-1.
Table
Sl. No.
Class of Taxpa...
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GST |
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Financial bids for all 12 large NPA accounts by month-end - SBI
Posted Date : 11-Jan-2018 , 08:44:20 am | Posted By CASANSAAR
Country's largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank's top official.
SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.75 lakh c...
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NPA |
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Cabinet clears 100% FDI in single-brand retail via automatic route
Posted Date : 10-Jan-2018 , 01:51:45 pm | Posted By CASANSAAR
The cabinet today approved 100 percent foreign direct investment (FDI) in single-brand retail through the automatic route, a move seen to trigger foreign inflows into India’s retail market. Previously, the government’s approval was needed for more than 49 percent FDI in single-brand reta...
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International Business |
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GST Council to discuss various issues on January 11
Posted Date : 10-Jan-2018 , 09:09:15 am | Posted By CASANSAAR
The Goods and Services Tax Council (GST) is scheduled to meet on Thursday (January 11) to deliberate on reasons for the fall in revenue collection, simplification of and other issues.
The tax rate fitment committee may also look into any potential rate changes.
Last time, the council met...
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GST |
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