CAclubindia News

Insolvency and Bankruptcy Code (Amendment) Bill, 2021 passed by Lok Sabha and Rajya Sabha

05 August 2021 at 06:22

The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 was passed by the Lok Sabha on 28th July 2021 and by the Rajya Sabha on 3rd August 2021.

Posted in Corporate Law | 5760 Views

GSTN | Blocking of E-Way Bill generation facility to resume after 15th August, 2021

04 August 2021 at 20:48

The government has decided to resume the blocking of EWB generation facility on the EWB portal, for all the taxpayers in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017, from 15th August onwards.

Posted in GST | 1 comments | 7830 Views

CBIC launches Compliance Information Portal (CIP)

04 August 2021 at 20:48

CBIC has launched the Indian Customs Compliance Information Portal (CIP) for providing free access to information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff Items.

Posted in Custom | 2646 Views

ICAI releases Exposure Draft on Initial Application of IFRS 17 and IFRS 9

04 August 2021 at 06:40

ICAI has released the Exposure Draft on the Initial Application of IFRS 17 and IFRS 9 - Comparative Information Proposed amendment to IFRS 17. Comments on the ED may be submitted electronically or via email or post by 3rd September 2021.

Posted in Professional Resource | 1605 Views

CGST authorities bust ITC fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21

04 August 2021 at 06:40

GST authorities have unearthed over Rs 31,000 crore of tax fraud committed by misuse of ITC provision under the GST regime during the financial year 2020-21 and booked more than 7,200 cases involving fake ITC.

Posted in GST | 1767 Views

GST authorities recover more than Rs 1,900 crore in tax evasion in FY 2021-22 up to June 2021

04 August 2021 at 06:38

Evasion may be committed intentionally and at times non-payment of tax may happen due to human error. However, no evasion of tax has been reported due to failure in the CBIC back-end system.

Posted in GST | 1584 Views

12,889 shell companies struck off in FY 2020-21

04 August 2021 at 06:37

GoI has undertaken a Special Drive for identification and strike off of Companies by invoking the provisions of section 248 (1) of the Act by which the Registrar of Companies struck off those companies after following the due process of law.

Posted in Corporate Law | 2721 Views

CBDT further extends the due dates for electronic filing of certain forms

03 August 2021 at 20:38

On consideration of difficulties reported by the taxpayers and other stakeholders in the electronic filing of certain Forms, CBDT has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.2021.

Posted in Income Tax | 3 comments | 30546 Views

PM launches digital payment solution e-RUPI

03 August 2021 at 06:29

Prime Minister Shri Narendra Modi launched the digital payment solution e-RUPI, a person and purpose specific digital payment solution, on 2nd August 2021 via video conference. e-RUPI is a cashless and contactless instrument for digital payment.

Posted in Professional Resource | 6426 Views

8 resolved, 65 settled/withdrawn and 23 ordered for liquidation in insolvency cases under IBC in real estate sector

03 August 2021 at 06:26

212 applications pertaining to the real estate sector were admitted for the Corporate Insolvency Resolution Plan under the IBC. 8 cases out of these were resolved, 65 cases have been settled or withdrawn and 23 cases were ordered for liquidation.

Posted in Corporate Law | 2424 Views