CAclubindia News

GST officials booked 8000 cases involving fake ITC of over Rs 35K crore in FY 2020-21

13 July 2021 at 20:41

During the FY, 426 persons including 14 professionals such as CAs, Lawyers and masterminds, beneficiaries, directors etc. were arrested. Moreover, a nation-wide special drive against the fake GST invoice was launched w.e.f. 9th November 2020.

Posted in GST | 3387 Views

Clarification by Ministry of Finance regarding holding of competitive exam of PSBs in local languages by IBPS

13 July 2021 at 20:37

In order to look into the demand for holding examination for clerical cadre in PSBs in local/regional languages, a Committee has been constituted to look into the matter in its entirety, which will give its recommendations within 15 days.

Posted in Community & General | 1539 Views

Delhi Government specifies the Format/Schema for e-Invoice under GST

13 July 2021 at 05:55

E-invoicing involves the submission of an already generated standard invoice on a common e-invoice portal. In this regard, the Delhi Government has specified a Format/Scheme for e-invoice under GST.

Posted in GST | 2748 Views

IFSCA issued Framework for Setting up and operating ITFS platform

12 July 2021 at 20:45

The International Financial Services Centres Authority (IFSCA) has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).

Posted in Community & General | 1680 Views

Shri Rao Inderjit Singh takes charge as Union Minister of State in Ministry of Corporate Affairs

12 July 2021 at 20:45

Active in public service for over 4 decades, Shri Singh was earlier a Member of Legislative Council (MLA) from Jatusana Vidhan Sabha in Haryana and served as Minister in the state Government of Haryana.

Posted in Community & General | 1299 Views

CGST officials bust network of 23 firms for claiming ITC of Rs 91 crore

11 July 2021 at 16:04

Based upon specific intelligence, the officers of the Anti Evasion branch of CGST Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible ITC through goods less invoices of Rs 91 crore (approx).

Posted in GST | 3933 Views

FM Nirmala Sitharaman attends Third G20 Finance Ministers and Central Bank Governors Meeting

11 July 2021 at 10:24

The two-day meeting saw discussions on a wide range of issues including global economic risks and health challenges, policies for recovery from the CoVID-19 pandemic, international taxation, sustainable finance and financial sector issues.

Posted in Community & General | 1659 Views

Update on New Income Tax Portal by ICAI

10 July 2021 at 09:57

"Pursuant to decisions in that meeting, our members from ICAI are continuously working with Ministry of Finance officials and Infosys group in configuring glitch-free functionalities of new efiling portal" - ICAI.

Posted in Income Tax | 31 comments | 16314 Views

Shri Pankaj Chaudhary takes charge as Minister of State in the Ministry of Finance

10 July 2021 at 05:34

Shri Chaudhary is a Member of Parliament (MP) from Maharajganj in Uttar Pradesh in the 17th Lok Sabha. Active in public service for over three decades, Shri Chaudhary has also held the post of Deputy Mayor of Gorakhpur in the past.

Posted in Community & General | 2010 Views

ICAI releases Exposure Draft of Revised AS 102, Share-based Payments

09 July 2021 at 20:47

The Institute of Chartered Accountants of India has released the Exposure Draft of Revised AS 102 - Share-based Payments for comments with the last date being 7th August 2021. Comments on the same can be submitted Electronically, via Email or Post.

Posted in Accounts | 2610 Views