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Exposure Draft : Initial Application of IFRS 17 & IFRS 9 – Comparative Information Proposed amendment to IFRS 17
IASB document issued for comments: Initial Application of IFRS 17 and IFRS 9 – Comparative Information Proposed amendment to IFRS 17 Indian Accounting Standards (Ind AS) are based on the IFRS Standard...
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ICAI seeks members consent for inclusion of E-mail address in Voters List
Election 2021 – Consent for inclusion of E-mail address in the List of Voters. As you may be aware, the next Elections to the Council and Regional Councils are scheduled to be held on 3rd and 4th Dece...
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Notices for non-filing of GSTR9/9A -Harassment of Taxpayer
Representation against Harassment of Taxpayers by the Department by issuing Notices for non-filing of GSTR9/9A for different Financial Years by Punjab Accountants Association to Shri Paramjit Singh, D...
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GST authorities recovers more than Rs 1,900 crore in tax evasion in FY 2021-22
GST authorities recover more than Rs 1,900 crore in tax evasion in FY 2021-22 (upto June 2021) The interface for the taxpayers is on a digital platform and software-based, to be used for payment of ta...
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Ease of Doing Business with New CIP launched by CBIC
Ministry of Finance released Press Release stating CBIC launches Compliance Information Portal (CIP). Under this, CIP shall provide free access to information on all Customs procedures and regulatory...
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Taxes levied on petrol and diesel in India
GOVERNMENT OF INDIA MINISTRY OF PETROLEUM AND NATURAL GAS RAJYA SABHA STARRED QUESTION NO. 98 TO BE ANSWERED ON 28TH JULY, 2021 Taxes levied on petrol and diesel 98. Shri Elamaram Kareem: Will the Min...
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Clarification on spending of CSR funds for COVID-19 vaccination
Spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families, Is an eligible CSR activity under item no. (i) of Schedule VII of the Companies Act, 2013 relati...
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12,889 shell companies struck off in FY 2020-21
There is no definition of the term ‘Shell Company’ in the Companies Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illeg...
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CBDT extends due dates for electronic filing of various Forms
under the Income-tax Act, 1961 On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 r...
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CBDT notifies pension fund ‘Ontario Inc.’ U/s. 10(23FE)
Central Government hereby specifies ‘ Ontario Inc.’, as the specified person for the purposes of sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of Income-tax Act, 19...
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Representation on issues related to newly launched Income Tax Portal
TAX ADVOCATES’ ASSOCIATION OF BENGAL’ has made a representation before Hon’ble Finance Minister on issues related to newly launched Income Tax Portal. Their representation is as follows: TAX ADVOCATES...
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Arbitration under MSME Act
Ministry of Micro,Small & Medium Enterprises Posted On: 02 AUG 2021 Sub-section 3 of Section 18 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 provides that where the concili...
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ITC fraud of more than Rs 31,000 crore busted in FY 2020-21
CGST authorities bust input tax credit fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21 The Goods and Services Tax authorities have unearthed over Rs 31,000 crore of ta...
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Development Initiatives by Govt. for MSMEs & SSIs
MSME and Small scale industries (SSI) are very important plays vital role in the economic growth of the Company because it helps in increasing employment and economic development of the country. These...
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Govt received complains against marketplace e-commerce entities
Government has received complaints from traders, retailers and industry associations against marketplace e-commerce entities regarding deep discounting, predatory pricing and misuse of market dominanc...
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Shri Deepak Das takes charge as new Controller General of Accounts
Ministry of Finance Posted On: 01 AUG 2021 10:59AM by PIB Delhi Shri Deepak Das took charge as the new Controller General of Accounts here today. Shri Deepak Das is the 25th officer to hold the positi...
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PM to launch digital payment solution e-RUPI on 2nd August
Prime Minister Shri Narendra Modi will launch e-RUPI, a person and purpose specific digital payment solution on 2nd August 2021 at 4:30 pm via video conferencing. Prime Minister has always championed...
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Govt not maintain info of operational Cryptocurrency Exchanges in India
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS RAJYA SABHA STARRED QUESTION NO.79# TO BE ANSWERED ON 27th July 2021 CRYPTOCURRENCY EXCHANGES 79 # SHRI SUSHIL KUMAR MODI Will th...
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FDI and Investment in Food Processing Sector
Ministry of Food Processing Industries Investment in Food Processing Sector Posted On: 30 JUL 2021 5:00PM by PIB Delhi Ministry of Food Processing Industries (MoFPI) is implementing a Central Sector s...
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RBI Booklet on Modus Operandi of Financial Fraudsters
BE (A) WARE A BOOKLET ON MODUS OPERANDI OF FINANCIAL FRAUDSTERS OFFICE OF THE RBI OMBUDSMAN (MUMBAI-II) MAHARASHTRA AND GOA Reserve Bank of India Table of Contents Preface There has been a sizable sur...