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NFRA Debars Two Chartered Accountants in Reliance Capital Case, Levies Fine

   16 April 2024 at 08:57

The National Financial Reporting Authority (NFRA) has taken decisive action against alleged misconduct, debarring two Chartered Accountants (CAs) for a period ranging between 5 to 10 years.

Posted in Audit |   3513 Views

ICAI Introduces New Disciplinary Mechanism to Combat Professional Misconduct

   15 April 2024 at 16:50

As a statutory body regulating the profession of Chartered Accountancy in India, the ICAI has had a long and glorious history in its 71 years of existence as the second-largest Institute in the world

Posted in Professional Resource |   705 Views

Income Tax Department Targets 1.52 Crore Non-Filers for Tax Return Compliance

   15 April 2024 at 08:57

According to a report, the Income Tax Department has identified a staggering 1.52 crore such individuals who, despite having taxable income or TDS, have failed to fulfill their filing obligations.

Posted in Income Tax |   3360 Views

Income Tax Department Issues Clarification Regarding India-Mauritius Tax Treaty

   13 April 2024 at 07:33

The Income Tax Department recently issued a clarification regarding concerns about the amendment to the India-Mauritius Double Taxation Avoidance Agreement (DTAA) on April 12, 2024.

Posted in Income Tax |   1995 Views

Kerala GST Department Guidelines: Issuance of orders u/s 107 and 108 of SGST/CGST/IGST Act

   13 April 2024 at 07:31

The Kerala GST Department has issued a new circular, Circular No: 05/2024 dated April 06, 2024, providing guidelines on the issuance of orders under section 107 and 108 of SGST/CGST/IGST Act related to the numbering of appellate and revisional orders.

Posted in GST |   489 Views

Delhi businessman arrested in GST Fraud Case, Claimed ITC through 35 fake companies

   13 April 2024 at 07:30

On Wednesday, the Sector 20 police arrested Tushar Gupta, a multimillionaire and resident of Tilak Nagar in Delhi, who runs a packaging factory in north-west Delhi.

Posted in GST |   633 Views

ICICI Prudential Faces Rs 20.50 Crore GST Demand for FY 2019

   12 April 2024 at 08:49

ICICI Prudential Life Insurance Company Ltd (ICICI Pru) disclosed on Tuesday, April 9, 2024, that it has been served with a Goods and Services Tax (GST) demand order amounting to Rs 20.50 crore for the financial year 2018-19.

Posted in GST  1 comments |   1863 Views

GSTR-1 Filing Due Date Extended till 12th April 2024

   12 April 2024 at 08:48

GSTN has recommended to CBIC that the due date for filing of GSTR-1 for the monthly taxpayers be extended by a day ie till 12/4/24.

Posted in GST |   4557 Views

Expert Panel For Addressing Queries Related To Statutory Audit Pertaining To Auditing Aspects

   11 April 2024 at 14:09

ICAI being the world's largest accounting body and regulator and developer of accountancy profession in India has always partnered in Nation Building and provided services for economic development of the country.

Posted in Audit |   312 Views

Fake GST Bills Worth Rs 13 Crore Generated Using Trader's ID

   11 April 2024 at 09:05

In a startling revelation, it has come to light that two individuals allegedly exploited the GST registration ID and password of a scrap trader to fabricate invoices amounting to a staggering Rs 12.77 crore.

Posted in GST |   456 Views