CAclubindia News

Applicability of insolvency and bankruptcy code in Corporate law exam

Important Announcement for Final Course studentsSub: Applicability of Insolvency and Bankruptcy Code, 2016 in the Paper 4: Corporate and Allied Laws for November 2017, Examinations The Council has approved the inclusion of "Overview of the Insolvency

Implementation of new CA course from 1st July 2017

Important Announcement Sub: Implementation of Revised Scheme of Education and Training for CA Course w.e.f. 1st July, 2017.All concerned are hereby informed that the Revised Scheme of Education and Training for CA course will come into effect from 1s

Increased availability of credit in GST to reduce cost of Telcos

After GST regime, telecom companies would be required to re-work their costing and credits availability and re-jig their prices and ensure that the increased availability of credit is passed on to the customers by lowering their costs. Telecommunicat

CBDT issues clarification on furnishing SFT and SFT Preliminary Response

Central Board of Direct Taxes (CBDT) Issues Clarification on furnishing Statement of Financial Transaction (SFT) & SFT Preliminary Response Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT

Amendment in revised Guidance Note on Audit of Consolidated Financial Statements

I. The Council of ICAI at its 365th meeting held on May 17-19, 2017 considered a matter regarding amendment to paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements issued in October 2016. At the meeting, the Council not

Proposed GST tax rates on Sugar,Tea and Coffee reduced to 5%

Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less; Similar

Persons liable to file Statement of Financial Transaction (SFT)

Addendum to the GST rate schedule for goods

ADDENDUM TO THE GST RATE SCHEDULE FOR GOODS[As per discussions in the GST Council Meeting held on 18th May, 2017]I. The following amendments / additions are required to be made to the aforesaid document:1. In S.No.22,-(i) In the Nil rate column, the

IT dept steps up actions against Benami Property holders

Income Tax Department Steps-up actions under Benami Transactions (Prohibition) Amendment Act, 2016 The Income-tax Department (ITD) has initiated actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 (the Act) w.e.f. 1st November

Cabinet approves phasing out Foreign Investment Promotion Board

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries/Departments to