CAclubindia News

ICAI Announces Revised Criteria for Classification of Non-Company Entities for Applicability of Accounting Standards

08 November 2024 at 12:39

The Council, at its 433rd meeting, held on August 13-15, 2024, considered the revised criteria for classification of Non-company entities for applicability of Accounting Standards issued by The Institute of Chartered Accountants of India (ICAI)

Posted in Accounts | 6651 Views

NFRA Board to Address Major Audit Standard Revisions Amid Tensions with ICAI

08 November 2024 at 06:51

NFRA Board to Address Major Audit Standard Revisions Amid Tensions with ICAI

Posted in Audit | 2943 Views

GSTN Issues Advisory related to Other Territory Applications

08 November 2024 at 06:42

As per Notification No. 2/2017-Central Tax dated 19th June, 2017 read with Trade Notice No. 01/2017-Central Tax dated 21st June, 2017 issued by Office of the Chief Commissioner of Central Excise, Mumbai Zone I and GST Trade Notice No. 002/2017

Posted in GST | 1311 Views

RBI Reports 98% of Rs 2000 Banknotes Returned Post Withdrawal Announcement

08 November 2024 at 06:39

98.04% of the Rs 2000 banknotes in circulation as on May 19, 2023, has been returned.

Posted in Community & General | 429 Views

Truecaller India Offices Face Income Tax Raids Amid Ongoing Compliance Checks

08 November 2024 at 06:39

In a recent development, Truecaller, the Stockholm-based caller identification and spam-blocking app, confirmed that it is cooperating with Indian income tax authorities following raids on its offices in Noida, Mumbai and Bengaluru.

Posted in Income Tax | 1377 Views

CBIC Mandates 1-Year Deadline for Customs Fraud Inquiries

07 November 2024 at 06:44

In a significant move aimed at enhancing the ease of doing business, the CBIC has issued a directive to customs field formations, emphasizing transparency and efficiency in conducting investigations related to export and import fraud

Posted in GST | 4788 Views

December GST Council Meeting to Address Rate Cuts on Life and Health Insurance Premiums

07 November 2024 at 06:44

With the end of the year approaching, the GST Council may soon bring significant relief to policyholders of life and health insurance.

Posted in GST | 951 Views

CBDT Considers Revamp of Income Tax Department Designations to Enhance Clarity and Transparency

07 November 2024 at 06:44

CBDT is reportedly exploring a restructuring of designations within the Income Tax Department. This initiative aims to make roles more understandable for the public and create a transparent image of the department, aligning titles with responsibilities.

Posted in Income Tax | 2022 Views

Tax Officers Uncover 18,000 Fake GST Firms, Detect Rs 25,000 Crore Tax Evasion

07 November 2024 at 06:44

In a major success for tax authorities, GST officers have unearthed around 18,000 fake companies involved in a large-scale tax evasion scheme, totalling approximately ₹25,000 crore.

Posted in GST | 1107 Views

CBIC Mandates Virtual Hearings for GST, Customs, Excise and Service Tax Appeals

06 November 2024 at 07:13

CBIC Judicial Cell, through its Instruction No. F. No. 390/Misc/3/2019-JC dated November 5, 2024, has released comprehensive guidelines for the conduct of personal hearings under various tax laws

Posted in GST | 5778 Views