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Net Direct Tax collections for F.Y. 2021-22 grown by more than 60%
Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a growth of approximately 53.50%. Net Direct Tax collections for the F.Y...
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Compliance Due Dates – Income Tax & GST Issues – Representation
We are group of few CAs who were involved in a limited manner when new ITD Portal was launched on June 7,2021. We have regularly provided our feedback to the best of our ability and understanding abou...
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Steps taken by government to arrest the price hike of electricity
A series of steps taken by the Government of India has helped to arrest the price hike of electricity in recent past. Such steps include (i) Government of India announced a Liquidity Infusion Scheme (...
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Govt reduces GST Rate on Ethanol to 5% from 18%
TAX BREAKS ON ETHANOL | The Government has lowered Goods and Services Tax rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol (EBP) Programme The Minister of State for P...
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CGST officers arrest CA for generating fake ITC of Rs. 92 crores
CGST officers arrest Chartered Accountant for generating fake input tax credit to the tune of Rs. 92 crores. Case involves fake invoice of more than Rs. 500 crores. The officers of CGST, Thane (Rural)...
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3.59 crore Income Tax Returns filed on new e-filing portal
3.59 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department Senior officials of Ministry of Finance headed by Secretary, Revenue had a meeting with the Infosys team hea...
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Extension of due dates of Income tax returns & Tax audit reports
Gujarat Chamber of Commerce & Industry has made a request for Extension of due dates of Income tax returns & submission of Tax audit reports for FY 2020-21 (AY 2021-22) to Smt. Nirmala Sitharaman, Hon...
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Income Tax Department searches 4 ARCs in Mumbai
Income Tax Department conducts searches in Mumbai The Income Tax Department carried out search and seizure operations on 08.12.2021 on four Asset Reconstruction Companies (ARCs). Total of 60 premises...
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Income Tax Dept searches 4 Bangalore based Credit Co-Op Societies
Income Tax Department conducts searches in Karnataka The Income Tax Department carried out search and seizure operations on 02.12.2021 on four Bangalore based Credit Cooperative Societies (CCS) and th...
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MCA signs MOU for data exchange with FIU-India
Ministry of Corporate Affairs and Financial Intelligence Unit-India sing MoU for data exchange between the two organisations A formal Memorandum of Understanding (MOU) was signed today between the Min...
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Steps taken by Govt to increase exports & its share in GDP
SHARE OF EXPORTS IN GDP Government has been facilitating, monitoring, assisting and channelizing efforts to increase the exports and thereby its share in GDP through a target-driven approach by engagi...
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Measures taken by Govt to boost exports
IMPACT OF COVID-19 ON EXPORTS India’s merchandise exports in April-November 2021 was USD 263.78 billion which is 65.95% of export target of USD 400 billion for 2021-22, while till October 2021, mercha...
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List of States & Industrial Corridor/ Nodes passing through it
Government of India has taken up implementation of various industrial corridor projects under National Industrial Corridor programme. The aim is to develop greenfield industrial nodes in India which c...
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Key initiatives taken by Government for Fintech ecosystem in India
With Fintech adoption rate at 87% against the global average of 64%, India has emerged as one of the largest digital markets in the world. Fintech Sector has huge potential in India, supported by an e...
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CBSE alerts public about Fake news being circulated
It has been brought to the notice of the Board that Fake news reports allegedly quoting an audio message in the name of Controller of Examination, CBSE are being circulated claiming that due to an err...
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ICSI NIRC Convocation 2021 (Second Round) at Jaipur on 28th December, 2021
The Institute of Company Secretaries of India ICSI NIRC Convocation 2021 (Second Round) at Jaipur on 28th December, 2021 The Institute is organizing Convocation of the Northern Region for awarding the...
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ICAI Convocation 2021-22
Members & Students Services Directorate The Institute of Chartered Accountants of India 14th December, 2021 Convocation 2021-22 The most awaited ICAI Convocation 2021-22 will be held, as per following...
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10 IGST/Custom Duty Relief Measure to fight against Covid-19
1. IGST exempted on Import of drug used for treatment of black fungus IGST exempted on import of Amphotericin B (the drug required for treating Mucormycosis fungal infection) if imported either free o...
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CGST, Mumbai busts fictitious entities availing ITC against Fake Invoices
CGST, Mumbai busts fictitious entities availing Input Tax Credit against Fake Invoices; fraudulent transaction of Rs. 6.23 Crore Special Drive detects Tax Evasion of Rs. 3,500 Crore so far; Rs. 460 Cr...
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27 Pre-Budget Suggestion on Union Budget 2022
National Chamber of Industries & Commerce, U.P. has made a representation to Hon’ble Union Minister for Finance and made 27 Suggestion related to Union Budget 2022. Suggestion includes request for Rat...