GST deptt detect fake invoices, arrest 3 in Delhi
Posted Date : 03-Mar-2020 , 10:15:54 am | Posted By CASANSAAR
GST department have arrested three persons involved in floating 17 fake firms and wrongfully availing credit on taxes paid on input worth Rs 436 crore by issuing fake invoices.
Officers of the Central GST Delhi East Commissionerate detected that the fraudulently availed input tax credit by ...
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GST |
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Provision for Quarterly Payment of GST by MSMEs
Posted Date : 02-Mar-2020 , 05:08:17 pm | Posted By CASANSAAR
The Small and Medium sector companies now get the benefit of the new return model under GST which ensures quarterly filing of returns for those taxpayers whose annual aggregate turnover in the preceding Financial year does not exceed Rs.5 crore.
Department of Revenue have informed that there is n...
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GST |
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0 | Hits : 1480
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Firm busted for issuing fake invoices to claim input tax credit of goods worth Rs 436 crores
Posted Date : 02-Mar-2020 , 04:42:54 pm | Posted By CASANSAAR
Officers of Anti-Evasion, Central GST Delhi East Commissionerate have unravelled a major operation of Circular Trading, involving use of fake invoices to claim fraudulent refunds of Input Tax Credit. Shri Asif Khan, Shri Rajeev Chhatwal and Shri Arjun Sharma, operating a total of 17 fake firms, proc...
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Income Tax |
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Audit committees need to play more active role - CEPR
Posted Date : 02-Mar-2020 , 08:33:20 am | Posted By CASANSAAR
Audit committees of boards of companies need to play a more active role for stronger checks against all financial and governance related wrongdoings, right-leaning think tank Centre for Economic Policy Research (CEPR) has said.
There is a need to clearly define the responsibility and accountabili...
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Auditing |
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0 | Hits : 1092
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Govt planning to launch lottery offer under the GST from 1 April
Posted Date : 02-Mar-2020 , 08:29:57 am | Posted By CASANSAAR
The government is planning to launch lottery offer under the Goods and Services Tax (GST) from April 1 by conducting lucky draws every month for invoices of all business to customer (B2C) transactions.
The lottery scheme is being envisaged by the revenue department to encourage customers to take ...
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GST |
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GST Revenue collection for February, 2020 Rs.1,05,366 Cr
Posted Date : 02-Mar-2020 , 08:23:17 am | Posted By CASANSAAR
The gross GST revenue collected in the month of February, 2020is Rs. 1,05,366crore of which CGST is Rs. 20,569crore, SGST is Rs. 27,348crore, IGST is Rs. 48,503crore (including Rs. 20,745crore collected on imports) and Cess is Rs. 8,947 crore (includ...
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GST |
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0 | Hits : 1435
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Punjab to reduce govt employees' retirement age to 58 years
Posted Date : 02-Mar-2020 , 08:19:29 am | Posted By CASANSAAR
Reducing government employees' retirement age from 60 to 58, free education for all students up to Class 12 and a debt waiver for landless farmers were some of the major announcements made by Punjab Finance Minister Manpreet Singh Badal in the 2020-21 budget on Friday.
Badal on Friday present...
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General |
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Canada to welcome over one million new immigrants between 2020-2022
Posted Date : 29-Feb-2020 , 08:55:40 am | Posted By CASANSAAR
Marco Mendicino laid out his vision for Canada’s immigration system in Toronto.
It was his first major policy speech since his November 2019 appointment as Minister of Immigration, Refugees and Citizenship. Mendicino was appointed after the Liberal Party of Canada was re-elected to a second...
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Income Tax |
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0 | Hits : 1992
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Procedure for Integration of E-Way Bill with VAAHAN
Posted Date : 29-Feb-2020 , 08:46:29 am | Posted By CASANSAAR
Procedure for Integration of E-Way Bill with VAAHAN explained by CA. Bhavesh Mittal.
Watch this Video,,,
https://youtu.be/mGGxD3C4m_0
...
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Category :
GST |
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0 | Hits : 4839
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Date extended for public comments on consultation paper on enhancement of Audit Independence and Accountability
Posted Date : 29-Feb-2020 , 08:31:37 am | Posted By CASANSAAR
In response to requests received from various quarters and stakeholders, the Ministry has decided to extend the last date for submission of public comments on the “consultation paper on enhancement of Audit Independence and Accountability” upto 15th March, 2020.
It is requ...
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MCA |
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SEBI amends guidelines for intermediaries at IFSC
Posted Date : 28-Feb-2020 , 08:52:30 am | Posted By CASANSAAR
Markets regulator Sebi on Thursday amended the guidelines for intermediaries operating at the International Financial Services Centre (IFSC), wherein such entities will be permitted to carry out operations without forming a separate company.
The facility – subject to various conditions, inc...
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SEBI |
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0 | Hits : 814
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Saskatchewan invites 576 Express Entry and Occupations In-Demand candidates
Posted Date : 28-Feb-2020 , 08:48:01 am | Posted By CASANSAAR
The Saskatchewan Immigrant Nominee Program (SINP) sent out a total of 576 invitations to apply (ITA) to candidates in the Express Entry and Occupations In-Demand categories on February 27, 2020.
In order to be selected, candidates needed to have submitted an Expression of Interest (EOI) profile w...
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Category :
International Business |
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0 | Hits : 782
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NCLAT sets asides insolvency proceedings against Flipkart.
Posted Date : 27-Feb-2020 , 02:07:09 pm | Posted By CASANSAAR
The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT to initiate insolvency proceedings against e-commerce major Flipkart. A three-member bench of the NCLAT released Flipkart from the corporate insolvency resolution process and directed the Interim Resolution Profe...
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Corporate Law |
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0 | Hits : 801
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RBI directs banks to link all the new floating rate loans to medium enterprises with external benchmark
Posted Date : 27-Feb-2020 , 10:36:33 am | Posted By CASANSAAR
The Reserve Bank has directed banks to link all the new floating rate loan to medium enterprises with external benchmark.In a circular, RBI said that the direction will be effective from 1st April 2020. With respect to micro and small enterprises, floating rate loans are already linked with external...
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RBI |
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Ceiling on the No.of Audits can be done by Chartered Accountant | Statutory Audits | Tax Audits
Posted Date : 27-Feb-2020 , 09:54:37 am | Posted By CASANSAAR
How many Audits a Chartered Accountant in Practice can do?
- Statutory Audit under Companies Act.
- Tax Audit under Income Tax Act.
Ceiling on No.of Audits can be done by Chartered Accountant in Practice discussed by CA. Vivek Khurana.
Watch this Video,,,,
https://youtu.be/R8SCay2DuXQ
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Category :
Auditing |
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0 | Hits : 2656
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RBI issues clarification on CRR Calculation
Posted Date : 27-Feb-2020 , 09:44:27 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday issued further clarifications on the recently announced relaxation on cash reserve ratio (CRR) calculations for incremental credit extended for automobiles, residential housing and micro, small and medium enterprises (MSMEs).
The central bank explained...
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RBI |
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SEBI gives direct access to stock exchanges for mutual fund investments
Posted Date : 27-Feb-2020 , 09:42:15 am | Posted By CASANSAAR
Very soon, investors will be able to invest in mutual funds directly through the stock exchanges on their own and without the assistance of their distributors or Registered Investment Advisors (RIAs).
The Securities and Exchange Board of India (SEBI) has asked stock exchanges to allow investors t...
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SEBI |
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0 | Hits : 827
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Companies (Auditor's Report ) Order to enhance disclosures on part of Auditors
Posted Date : 27-Feb-2020 , 09:39:34 am | Posted By CASANSAAR
In a bid to bring greater financial discipline in audits, the government has asked auditors to provide details like loans given by a company for reporting whistleblower complaints and assessing internal audit mechanisms of firms.
In a press statement issued on Wednesday, the corporate affairs min...
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Auditing |
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0 | Hits : 910
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CBIC issues notices to companies over late input credit claim under GST frame
Posted Date : 27-Feb-2020 , 09:34:39 am | Posted By CASANSAAR
The indirect tax department has issued notices to thousands of companies that had claimed input tax credit under the goods and services tax framework after missing the deadline to do so, and asked them to reverse the transaction.
These companies had claimed the input tax credit for fiscal 2018 an...
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Category :
GST |
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0 | Hits : 1127
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SEBI bans transfer of clients’ securities to broker accounts
Posted Date : 26-Feb-2020 , 07:25:41 am | Posted By CASANSAAR
Markets regulator Sebi on Tuesday banned transfer of clients' securities to demat accounts of trading and clearing members.
Against the backdrop of Karvy Stock Broking Ltd (KSBL) incident, the watchdog has now put in place stringent norms to prevent misuse of clients' securities that are ...
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SEBI |
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Insolvency and Bankruptcy Code amendment | Effects of IBC Amendments on Home Buyers
Posted Date : 25-Feb-2020 , 10:11:36 am | Posted By CASANSAAR
Amendment in Insolvency and Bankruptcy Code And Its effect on Home Buyers explained by CA.Charu Gupta.
Watch This Video,,,,
https://youtu.be/tWSZiS2iVUI
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Insolvent Professional |
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SEBI tweaks margin system in derivatives to boost liquidity
Posted Date : 25-Feb-2020 , 09:26:28 am | Posted By CASANSAAR
Markets regulator Sebi on Monday reviewed the margin framework for cash and derivatives segments, in order to bring more efficiency in the risk management system.
The move has been taken to keep pace with the changing market dynamics and to bring more efficiency in the risk management framework.
...
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SEBI |
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0 | Hits : 1006
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CAG holds meeting with Ministries to seek suggestions on Auditing
Posted Date : 25-Feb-2020 , 08:40:21 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) on Monday held a meeting with representatives of several Ministries seeking suggestions on areas that could be selected for audit.
With a view to involve the executive side in the audit planning process by seeking their suggestions, the CAG interacted wit...
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Category :
Auditing |
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0 | Hits : 1419
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NHAI collects Rs 20 crore from 18 lakh defaulters entering FASTag lanes
Posted Date : 24-Feb-2020 , 10:04:14 am | Posted By CASANSAAR
National Highways Authority of India (NHAI) on Sunday said it has collected Rs 20 crore from 18 lakh defaulters who entered the FASTag lanes at electronic toll plazas on National Highways without the tag. Rolling out the electronic toll collection programme across India in December, the Ministry of ...
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Category :
General |
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0 | Hits : 1106
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28 per cent GST will be levied on lotteries from 1st March
Posted Date : 24-Feb-2020 , 09:59:13 am | Posted By CASANSAAR
A 28 per cent Goods and Services Tax (GST) will be levied on lotteries from March 1, according to a notification. The GST Council had in December last year decided to impose a single rate of 28 per cent on state-run and authorised lotteries.
The revenue department notified the GST rate on supply ...
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Category :
GST |
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0 | Hits : 1245
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New Return filing System under GST| Clause by Clause Discussion
Posted Date : 22-Feb-2020 , 10:09:47 am | Posted By CASANSAAR
New Return filing System under GST| Clause by Clause Discussion| GST ANX-1| GST ANX-2| GST RET-1| GST RET-2| GST RET-3.
Comparision between GST Old and New System.
GSTR-1 vs ANX-1
GSTR-2 vs ANX-2
GSTR-3 vs RET1/2/3
Clause by Clause Discussion by CA.Mohit Gupta
https://youtu.be/pm04DcD16bQ
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Category :
GST |
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0 | Hits : 1601
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Companies take taxman to court over denial of GST credit on gifts
Posted Date : 22-Feb-2020 , 09:45:59 am | Posted By CASANSAAR
A group of companies has dragged the government and the indirect tax department to court over denying input tax credit on gifts and samples given to customers and clients.
Under the Goods and Services Tax (GST) framework, companies can set off costs incurred on raw materials or input services aga...
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Category :
GST |
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0 | Hits : 1230
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Aadhaar card holders can now get a free PAN card in just 10 minutes
Posted Date : 22-Feb-2020 , 09:36:29 am | Posted By CASANSAAR
To get a new PAN card you need not fill up a 2-page application form and wait for a few days anymore as the income tax department has launched a new facility for taxpayers allowing anyone with an Aadhaar card to get an instant PAN card online and that too for free.
The instant e-PAN card ap...
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PAN |
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0 | Hits : 1320
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Procedure of Prosecution under Various Laws
Posted Date : 21-Feb-2020 , 10:35:14 am | Posted By CASANSAAR
Procedure of Prosecution under Various Laws such as PMLA, PBPT, Black Money Act, Income Tax Act etc explained by Advocate Amit Khemka.
Watch this Video,,,,
https://youtu.be/O8ZuUfWgLMk
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Category :
Income Tax |
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0 | Hits : 963
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UK gets ready for new points-based visa system; Indians may benefit
Posted Date : 21-Feb-2020 , 10:24:11 am | Posted By CASANSAAR
Home Secretary Priti Patel announced the launch of the UK's new points-based visa system, aimed at attracting the "brightest and the best" from the world, including from India, and cutting down numbers of cheap, low-skilled workers coming to the country.
The new system will come int...
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Category :
International Business |
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