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Centre releases GST Compensation & IGST ad-hoc settlement amount to States/UTs
Centre releases Rs. 30,000 crore as GST Compensation as well as Rs. 28,000 crore as IGST ad-hoc settlement to the States/UTs. The total amount of compensation released so far for the year 2020-21 is R...
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CBI Arrests A Superintendent of GST In Case of Bribery
CBI Arrests An Executive Engineer of CPWD And A Superintendent of GST In Separate Cases of Bribery CBI Press Release | Dated: 30.03.2021 The Central Bureau of Investigation has arrested an Executive E...
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FM launches Central Scrutiny Centre and IEPFA’s Mobile App
Ministry of Corporate Affairs Finance Minister Smt. Nirmala Sitharaman launches Central Scrutiny Centre and IEPFA’s Mobile App to leverage digital solutions to achieve Prime Minister’s vision of ‘Digi...
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Budget Session of Parliament adjourns sine die- 18 Bills Passed
Ministry of Parliamentary Affairs Budget Session of Parliament adjourns sine die; A total of 18 Bills passed by both the houses of parliament; The Session saw a productivity of approx. 114% in Lok Sab...
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ICSI extends Time for Obtaining Mandatory CPE Credits
THE INSTITUTE OF Companies Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of parliament (Under the jurisdiction of Ministry of corporate Affairs) EXTENSION OF T...
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CGST West Delhi officials arrest man for ITC fraud of around Rs. 9 crore
Ministry of Finance CGST West Delhi officials arrest man for input tax credit fraud of around Rs 9 crore Posted On: 26 MAR 2021 Based upon specific intelligence, the officers of the Anti Evasion branc...
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CAG report on Compliance Audit (Department of Revenue- Customs)
PRESS RELEASE OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA New Delhi 24th March, 2021 CAGs COMPLIANCE AUDIT REPORT ON CUSTOMS PRESENTED IN PARLIAMENT The Compliance Audit Report No. 17 of 20...
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ROC imposes penalty for non-Adherence to Secretarial Standards
Non Adherence to Secretarial Standards lands Companies in a soup ;ROC imposes penalty The Companies Act, 2013 has entered into a maturity phase as its inception is over seven years. Secretarial Standa...
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MCA mandates Companies to use Software with Audit Trail of each Transaction
The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendment Rules, 2021), that every company which uses accounting software for maintaining its books of account s...
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Section 148- Instructions on handling of Non-PAN cases flagged by DRI
F. No.225/40/2021/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 26th March, 2021 To All Principal Chief Commissioners of Income-tax/...
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Allotment of one PAN to two or more taxpayers- resolution
DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 F.No ADG(S)-1/PAN/2020-21/6177 ITBA-PAN INSTRUCTION No. 9 Dated: 25-03-2021 To, All Principal...
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CBDT Defers GST & GAAR reporting till 31.03.2022
The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44 till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Reve...
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President Assents Finance Act 2021
The Finance Bill, 2021 was introduced in Lok Sabha on 01st February 2021 and passed by Lok Sabha on 23rd March 2021 with 127 new amendments in comparison to bill presented in Lok Sabha on 01st Februar...
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CBDT notifies New Income Tax Rules & Forms for Trust & NPOs
CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. Notification Substitutes Income Tax Rule 2C -Application for...
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No change in recommended interval between two doses of Covaxin
Centre writes to States/UTs to Increase the Interval between two doses of COVISHIELD to 4-8 weeks based on NTAGI and NEGVAC Recommendation Protection enhanced if the second dose of COVISHIELD is admin...
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CBI Arrests a Superintendent of CGST, CGST & a EPFO Enforcement Officer
CBI ARRESTS A SUPERINTENDENT OF CGST AND THREE PRIVATE PERSONS IN A BRIBERY CASE; RECOVERS Rs. 12 LAKH ALLEGED BRIBERY AMOUNT AND Rs. 30 LAKH (APPROX.) DURING SEARCHES Press Release | Dated: 26.03.202...
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CGST Delhi officials arrest man for ITC fraud of around Rs 94 crore
Ministry of Finance CGST Delhi officials arrest man for input tax credit fraud of around Rs 94 crore Posted On: 26 MAR 2021 The officers of CGST Delhi North Commissionerate upon data analysis and gath...
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CAG reports deficiencies in GST Refund, Returns & E-Way Bill module
PRESS RELEASE OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA New Delhi 24th March, 2021 AUDIT REPORT ON GST PRESENTED IN PARLIAMENT Compliance Audit Report No. 1 of 2021 of the Comptroller and...
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Writ filed against Not allowing erstwhile Allahabad bank auditors to continue
Chartered Accountants Association Vs Reserve Bank of India (Delhi High Court) 1. Chartered Accountants Association filed writ against Indian Bank for not allotting Statutory Audit for Financial Year 2...
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Amendment to Schedule III of Companies Act 2013 wef 01.04.2021
GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 24th March, 2021 G.S.R. (E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013...