CAclubindia News

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 | 1875 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 | 1641 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 | 2781 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 | 6582 Views

Major initiatives by Government & RBI for farmers, amid COVID-19

03 August 2021 at 06:22

Dr Bhagwat Kisanrao Karad stated that the moratorium for the total period of six months up to 31st August 2020, was permitted in respect of all term loans (including agricultural term loans, retail and crop loans).

Posted in Community & General | 1833 Views

More than 6.80 crore loans of Rs. 5.20 lakh crore extended to New Entrepreneurs/Accounts under PMMY

03 August 2021 at 06:25

Entrepreneurs availed over 29.55 crore loans of Rs. 15.52 lakh crore under Pradhan Mantri Mudra Yojana since 2015. For the current financial year, a target of sanction of Rs. 3.00 lakh crore has been fixed for MLIs.

Posted in Community & General | 1656 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8 resolved, 65 settled/withdrawn and 23 ordered for liquidation in insolvency cases under IBC in real estate sector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 | 2487 Views

ICMAI extends the last date for admission to the CAT Course for December 2021 Exams

02 August 2021 at 05:58

The Institute of Cost Accountants of India has extended the last date for admission to the Certificate in Accounting Technicians (CAT) course for December 2021 exams to 31st August 2021.

Posted in Students | 2649 Views

CBIC does away with expiry/renewal of Authorised Economic Operator certification after every three years for AEO-T1 entities

02 August 2021 at 05:59

It has been decided by CBIC that w.e.f. 1st August 2021, all AEO-T1 entities certified on or after 01.04.2019, shall be auto renewed in the system, without any end date.

Posted in Custom | 2682 Views

PM to launch digital payment solution e-RUPI on 2nd August

02 August 2021 at 05:45

e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.

Posted in Community & General | 2247 Views