CAclubindia News

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 | 47856 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 | 5166 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

NPS records 5,67,116 beneficiaries above age of 60 years

21 March 2023 at 08:40

As informed by PFRDA, the number of beneficiaries above the age of 60 years, under the National Pension System (NPS) is 5,67,116.

Posted in Corporate Law | 3417 Views

GST officers unearthed fake invoicing racket involving tax evasion of Rs 17 crore

20 March 2023 at 08:40

GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of Rs 17 crore and arrested two persons, the Finance Ministry said on Saturday.

Posted in GST | 3969 Views

GST dept to scrutinise IT, MCA data to identify entities not paying taxes

20 March 2023 at 08:40

The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if the entities are adequately discharging their GST liability and widening the taxpayer base.

Posted in GST | 8496 Views