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Reduce late filing fees for Form GSTR 9, GSTR 4 & GSTR 10
All India NISME and Tax Professionals Association Ref:- AIMTPA/007/22-23 Date:- 14-Jan-2023 To, Hon’ Chairman, The Central Board of Indirect Taxes and Customs, Department of Revenue, c/o Ministry of F...
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NFRA to introduce Annual Transparency Report by the Audit Firms
As a step towards enhancing the transparency about management and governance of audit firms and their internal policy framework to ensure high quality audits and preventing conflict of interest by mai...
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Consultation Paper on Review of Regulatory Framework for Sponsors of a Mutual Fund
Securities and Exchange Board of India Consultation Paper on Review of Regulatory Framework for Sponsors of a Mutual Fund A. Objective The objective of this consultation paper is to seek comments / vi...
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Functionality to furnish LUT for FY 2023-2024 enabled
The Goods and Services Tax Network (GSTN) has enabled the functionality to furnish a Letter of Undertaking (LUT) for the Financial Year 2023-2024 on the GST Portal. Who can furnish LUT & benefit of fu...
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GSTINs suspended: Advisory on “Initiating Drop Proceeding” by taxpayers
Recently, a functionality of Automated Drop Proceedings of GSTINs suspended due to non-filing of returns has been implemented on the GST Portal. This functionality is for the taxpayers who have filed...
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New Functionalities for Taxpayers on GST Portal in December, 2022
1. Registration 1. Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG-17. A taxpayer is suspended on the portal if they do not file six or more consecutive mon...
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Request to announce another Income Disclosure & Vivad Se Vishwas Scheme
Memorandum containing suggestions for Budget 2023 by CCI Professionals Forum with request to consider annoucing another Disclosure Scheme and Vivad Se Vishwas Scheme in national interest. CCI PROFESSI...
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Direct Tax Collections for F.Y. 2022-23 up to 10.01.2023
Gross collections at Rs. 14.71 lakh crore 24.58% higher than the corresponding period of last year Net collection 86.68% of the total Budget Estimates of Direct Taxes for F.Y. 2022-23 The provisional...
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Tamilnadu Govt. issues instructions for GST Intelligence Wing, Roving Squad
IW1/3365394/2022 Office of the Principal Secretary/Commissioner Of Commercial Taxes, Chennai-600 005. Dated: 10.01.2023 Present: Thiru Dheeraj Kumar, I.A.S., Principal Secretary/Commissioner of Commer...
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GST Council Newsletter for the month of December 2022
GST Council Secretariat, New Delhi The 481h GST Council Meeting was held on 17th December, 2022 in virtua: mode under the Chairmanship of Hon’ble Union Finance Minister. In a move to reduce the compli...
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SSAE 3000 – Assurance Engagements on Sustainability Information
Standard on Sustainability Assurance Engagements (SSAE) 3000 – Assurance Engagements on Sustainability Information Preface The Sustainability Reporting Standards Board (SRSB) of the Institute of Chart...
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Implementation of Recommendations of 48th GST Council Meeting
1. Reversal of ITC in case of non-payment of tax by the supplier by a specified date and mechanism for re-availment. Rule 37(1) of the CGST Rules is amended w.e.f 01.10.2022 to provide that a register...
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Addendum to Notification: Format, Procedure & Guidelines for submission of SFT for Interest income
DGIT(S)/ADG(S)-2/Reporting Portal/2021/180 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) New Delhi Notification No. 1 of 2023 | Dated: 5th J...
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CBI Arrests Income Tax Officer & CA on Allegations of Bribery of Rs. 2.25 Lakh
CBI Arrests An Assistant Valuation Officer of Income Tax And An Auditor/CA on The Allegations of Bribery of Rs. 2.25 Lakh The Central Bureau of Investigation has arrested an Assistant Valuation Office...
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List of Banks For Income Tax Payments on NSDL & e-Filing Portal
Updated List of banks for tax payments available at e-Pay Tax service at e-Filing Portal and OLTAS e-Payment of Taxes at Protean (previously NSDL):+ List of banks for tax payments available at e-Pay T...
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UAE Federal Decree-Law
This is not an official Translation: Taxation of Corporations and Businesses Federal Decree-Law No. 47 of 2022 – Issued 3 October 2022 (Effective 15 days after publishing in the Official Gazette) His...
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SEBI Settlement Scheme for 150 Stock Brokers, 2022 – FAQs
1. SEBI has decided to introduce a Settlement Scheme for 150 Stock Brokers, 2022 (Scheme 2022) for Stock Brokers against whom enforcement proceedings have been approved/initiated and are pending for e...
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Grant of Registration as Alternative Investment Fund (AIF) – FAQs
Securities and Exchange Board of India FAQs FOR GRANT OF REGISTRATION AS ALTERNATIVE INVESTMENT FUND (AIF) GENERAL INFORMATION: THIS CHECKLIST DEALS ONLY WITH THE BROAD GUIDELINES FOR PROCESSING OF AP...
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Extension of time limit for compliance under section 54 to 54GB
F. No. 225/ 49/2021-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Circular No. 1 of 2023 dated 06 January, 2023 Subject: Extension of ti...
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Valuation of portfolio of Alternative Investment Funds
Securities and Exchange Board of India Consultation Paper on standardised approach to valuation of investment portfolio of Alternative Investment Funds Objective 1. The objective of this consultation...