CAclubindia News

Finance Bill 2023 passed in Lok Sabha with over 45 amendments

24 March 2023 at 08:39

Today, i.e. 24th March, Union Finance Minister Nirmala Sitharaman will move The Finance Bill, 2023 in Lok Sabha to give effect to the financial proposals of the Central Government for the financial year 2023-2024 be taken into consideration.

Posted in Union Budget | 17556 Views

Develop mechanism for online audit of GST: Parliamentary Panel on Finance

24 March 2023 at 08:37

A high-level Parliamentary panel has suggested to the government to look into the possibility of developing a mechanism for online audit in GST, in order to make the process more efficient and less intrusive.

Posted in GST | 3120 Views

ICAI mandates CAs to file Know Your Members (KYM) from 2023-2024

23 March 2023 at 11:21

ICAI has notified CAs to file 'Know Your Members' (KYM) from 23-24 onwards.KYM also called as "Know Your Member" is a yearly activity. It is mandatory for members to file for KYM 2023-24 onwards.One of the fundamental prerequisites

Posted in Professional Resource | 47859 Views

RBI directs banks to keep all branches open till 31st March for annual closing

23 March 2023 at 08:32

With the annual closing of accounts just 10 days away and the financial year 2022–23 coming to a close, the Reserve Bank of India (RBI) has directed all banks to keep their branches open until the end of the working hours on March 31.

Posted in Others | 1 comments | 6018 Views

GSTN | HSN Code Reporting in e-Invoice on IRPs Portal

23 March 2023 at 08:32

We would like to inform you that this requirement has already been implemented in the GST system, and we are now in the process of implementing the same at IRPs portal in collaboration with our IRP partners including NIC.

Posted in GST | 6087 Views

3 GST officials involved in fake raid dismissed through newspaper ad

22 March 2023 at 07:03

The state goods and service tax department led by senior bureaucrat Rajeev Mittal on Tuesday dismissed three GST inspectors after it was confirmed they were involved in a fake raid and decamped with Rs 11 lakh from a leading trader.It was for the fir

Posted in GST | 7455 Views

ICAI releases Exposure Draft of Guidance Note on Transfer of Capital Reserve

22 March 2023 at 07:03

Certain Ind AS require capital reserve to be created toward unrealised profits arising from certain transactions or other events. However, currently, there is no specific guidance on their subsequent transfer to retained earnings or other free reserve.

Posted in Corporate Law | 5175 Views

GSTN issues advisory for taxpayers wishing to register as OPC in GST

21 March 2023 at 14:36

Advisory for the taxpayer wishing to register as "One Person Company" in GSTAs per provision of section 2(62) of The Companies Act, 2013 "One Person Company" is defined as a company which has only one person as member. Some issues

Posted in GST | 7728 Views

IT Department sends Rs 8 crore recovery notice to a labourer in Bulandshahr

21 March 2023 at 08:41

In a shocking incident, the Income Tax department sent a notice to a labour for recovery of Rs 8 crores. The person, who is a labour by profession, is a native of Bulandshahr in Uttar Pradesh.

Posted in Income Tax | 7914 Views