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Revised Procedure for submission of SFT for Depository Transactions
Central Board of Direct Taxes have issued a significant corrigendum (Notification No. 3 of 2021) on November 15, 2023, amending the Format, Procedure, and Guidelines for the submission of the Statemen...
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Comprehensive Guide to GST E-Invoice System Implementation
Introduction: Welcome to the realm of GST tax compliance, where the E-Invoice System revolutionizes the way businesses handle invoices. Mandated by the GST Council and implemented by the National Info...
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Instructions for Direct API Integration with IRPs for E-Invoice Reporting
GSTN relased Comprehensive Guide and Instructions for Direct API Integration with Any of the 6 IRPs for E-Invoice Reporting Comprehensive Guide and Instructions for Direct API Integration with Any of...
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IFSCA Fund Management FAQs 2022: Registration & Authorization Process
Introduction: Understanding the intricacies of registering a Fund Management Entity (FME) and authorizing a Scheme or Fund under the IFSCA (Fund Management) Regulations, 2022 is crucial for financial...
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MEF 2023-24 Application Window Open for 3 Days
Introduction: The Professional Development Committee of The Institute of Chartered Accountants of India has made a significant announcement on 17th November 2023. Acknowledging the challenges faced by...
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Advisory on verification of transporter Id (TRANSIN) in e-Waybills
Dear Taxpayers and Transporters, understanding the verification process of transporter IDs in the E-Waybill System is crucial for seamless operations. This advisory aims to clarify the process and hig...
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Revised Guidelines for Withholding Refunds under Section 245(2) – Income-tax Act 1961
Introduction: The Ministry of Finance, through Instruction No. 02/2023, has introduced significant revisions to the timelines, monetary limits, and workflow pertaining to the recording of reasons befo...
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GST Council Newsletter for the month of October 2023
The 52nd GST Council meeting was characterized by significant changes being made to the tax landscape in India. The Council, upholding the spirit of cooperative federalism, decided to cede the right t...
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ICSI Guidelines: LLP Registration for CS Training in GIFT City
Introduction: The Institute of Company Secretaries of India (ICSI) is dedicated to achieving professional excellence. As a statutory body under an Act of Parliament, it operates under the jurisdiction...
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Union Finance Minister Launches 12 GST Seva Kendras in Gujarat
Introduction: Union Finance Minister Smt. Nirmala Sitharaman recently launched 12 Goods and Services Tax (GST) Seva Kendras in Vapi, Gujarat, as part of the “Mera Bill Mera Adhikaar” campaign. This ar...
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गुड्स एंड सर्विस टैक्स सेंट्रल मेरठ की इंटेलिजेंस (DGGI) ने बड़ा फर्जीवाड़ा पकड़ा
गुड्स एंड सर्विस टैक्स सेंट्रल मेरठ (Goods & Services Tax) की इंटेलिजेंस (DGGI) ने एक बड़ा फर्जीवाड़ा पकड़ा प्रेस विज्ञप्ति का सारांश :- गुड्स एंड सर्विस टैक्स इंटेलिजेंस डायरेक्टर जनरल (DGGI ) मेरठ क...
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DGGI Meerut Busts Rs. 1,481 Crore Fake Invoice Syndicate
Introduction: In a significant achievement, the Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has taken down a major fake invoicing syndicate that operated with...
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2- Factor Authentication for e-Way Bill and e-Invoice System
2 Factor Authentication is mandatory for taxpayers with AATO Rs 20 Crore and above from 20th November 2023. Users are requested to register for 2FA and also create sub-users so that EWB activities are...
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Income Tax Exemption for Press Council of India – Notification No. 98/2023
Introduction: The Ministry of Finance, under the Department of Revenue, has issued a significant notification – Notification No. 98/2023 – related to income tax exemptions. This notification, dated 6t...
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Discussion paper on Real-Estate Related Proposals- CIRP & Liquidation
Introduction: The real estate sector in India has been grappling with various challenges, particularly in the context of insolvency and bankruptcy. To address these issues, a discussion paper has been...
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Income Tax Exemption Notification: Punjab Infrastructure Regulatory Authority
Introduction: The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, issued Notification No. 97/2023 on November 6, 2023, under clause (46) of section 10 of the Income-tax Act,...
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IFSCA Invites Public Feedback: Review of Bullion Exchange Regulations 2020
Introduction: In a significant move to streamline regulations and enhance the financial landscape, the Union Budget for FY 2023-24 emphasized the need to review existing regulations within the financi...
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FATF Identifies High-Risk Jurisdictions and Updates Monitoring List
Introduction: In a recent public statement, the Financial Action Task Force (FATF) addressed high-risk jurisdictions and those under increased monitoring for Anti-Money Laundering (AML) and Combating...
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IFSCA Issues Caution on Unauthorised Entities in IFSC
Introduction: The International Financial Services Centrals Authority (IFSCA) has issued a press release to caution the public against dealing with unauthorised entities within the International Finan...
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Biometric Aadhaar Verification for GST Registration – Gujarat & Puducherry
The Goods and Services Tax Network (GSTN) has introduced a new biometric-based Aadhaar authentication and document verification process for GST registration applicants in Gujarat and Puducherry. This...