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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...
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11 Changes in GST Utilities/Forms on GST Portal
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 monthly returns /q...
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15 Income Tax Budget 2022 Announcement and Progress so far
1. Income Tax Department brings reforms for Cooperatives! Alternate Minimum Tax for cooperative societies reduced to 15% to bring them at par with companies. Reduction of Alternate Minimum tax rate fo...
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UIDAI enables ‘Head of Family’ based online address update in Aadhaar
Residents can update address in Aadhaar online with the consent of their Head of Family (HOF) HoF can approve or reject a request within 30 days from the service request date HoF based online address...
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ICAI President’s Message – January 2023
Institute of chartered Accountants of India Dear Colleagues, “If we work and sweat for the great vision with ignited minds, the transformation leading to the birth of vibrant developed India will happ...
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Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row
Rs 1,49,507 crore GST Revenue collected for December 2022, records increase of 15% Year-on-Year Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row The gross GST revenue c...
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Cash receipt by ‘Co-op. Society’ from dealer across multiple days not to be aggregated for Section 269ST
Cash receipt by ‘Co-op. Society’ from dealer across multiple days not to be aggregated for Sec. 269ST purpose: CBDT Reference was received by the CBDT as to whether receipt of cash by Co-operative Soc...
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Interest rates of small saving schemes for January 23 to March 23
Revision of interest rates for Small Savings Schemes for Q4 of 2022-23 (i.e. from 1st January, 2023 to 31st March, 2023) Interest rates of small saving schemes for the Fourth quarter of financial year...
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AIFTP requests Early disposal of Income-tax appeals pending before CIT(A)/NFAC
AIFTP appeal to Smt. Nirmala Sitharaman (Finance Minister) to direct the CBDT to direct the NFAC to hear the appeals expeditiously and effectively so that the tax payers will be able to get the finali...
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Consultation Paper on Proposed IFSCA (Assets, Liabilities, and Solvency Margin) Regulations, 2022
PRESS RELEASE Invitation for public comments on proposed IFSCA (Assets, Liabilities, and Solvency Margin) Regulations, 2022 International Financial Services Centres Authority (IFSCA) has been establis...