CAclubindia News

2 held by CGST Officials for ITC fraud of more than Rs 10 crore

11 August 2021 at 21:22

The CGST Commissionerate, Faridabad, Haryana has arrested two Directors of M/s. F2C Wellness Pvt. Ltd., Faridabad on charges of illegally availing and passing on input tax credit (ITC) by issuance of invoices without supply of goods.

Posted in GST | 3513 Views

Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels in FY 2020-21

11 August 2021 at 05:50

Nearly 72% of financial transactions of Public Sector Banks (PSBs) are now done through digital channels, with customers active on digital channels having doubled from 3.4 crores in FY 2019-20 to 7.6 crores in FY 2020-21.

Posted in Corporate Law | 1413 Views

MCA amends Schedule III of Companies Act on disclosure norms in financial statements

11 August 2021 at 05:47

Ministry of Corporate Affairs vide notification dated 24.03.2021 has amended Schedule III to the Companies Act, 2013 effective from 01st April 2021 to mandate various disclosures by companies in their financial statements.

Posted in Corporate Law | 4596 Views

Schedule for Nov / Dec 2021 CA Foundation, Inter and Final Exams

10 August 2021 at 16:33

The Institute of Chartered Accountants of India has announced the schedule for Nov / Dec 21 CA Foundation, Inter and Final Exams, and the same will be conducted from 5th December 2021 to 20th December 2021.

Posted in Students | 1 comments | 27147 Views

Contribution of MSMEs to GDP

10 August 2021 at 05:52

The share of the MSME manufacturing in All India manufacturing gross value output during the year 2018-19 and 2019-20 were 36.9% and 36.9% respectively, while the share of export was 49.8% and 49.5% respectively.

Posted in Others | 1755 Views

Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme

10 August 2021 at 05:49

The scheme 'Vivad Se Vishwas' is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme.

Posted in Income Tax | 2223 Views

Digital payments surge from 1459.02 crore in FY 2017-18 to 4371.18 crore in FY 2020-21

10 August 2021 at 05:46

On the digital payment ecosystem, Shri Pankaj Chaudhary stated that the total volumes of digital payments increased from 1459.02 crore in FY 2017-18 to 4371.18 crore in FY 2020-21 due to sustained efforts towards digitalisation.

Posted in Others | 1548 Views

ICAI issues Exposure Draft of Subsidiaries without Public Accountability: Disclosures

10 August 2021 at 05:45

ICAI has issued an Exposure Draft that sets out the proposal of the IASB for a new IFRS Standard - Subsidiaries without Public Accountability: Disclosures. Comments on the ED may be sent electronically or via email or post by 15.12.2021.

Posted in Others | 1362 Views

IT Department creates dedicated e-mail ids for registering grievances under the Faceless Scheme

09 August 2021 at 05:54

In a move aimed to further improve taxpayer services in alignment with the Taxpayers’ Charter, the Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme.

Posted in Income Tax | 1 comments | 6564 Views

CBDT issues refunds to more than 21.32 lakh taxpayers between 1st April to 2nd August, 2021

08 August 2021 at 18:54

Income tax refunds of Rs. 13,694 crore have been issued in 20,12,802 cases & corporate tax refunds of Rs. 32,203 crore have been issued in 1,19,173 cases.

Posted in Income Tax | 1518 Views