CAclubindia News

ICAI President's Message - August 2017

31 July 2017 at 17:18

My esteemed professional colleagues, A very happy Independence Day to all of you! Let us respect others independence as much as we value ours. Freedom is when we have power and when we share the power with others.

Posted in Professional Resource | 1 comments | 4389 Views

Date for ITR filing extended to 5th August 2017

31 July 2017 at 16:05

In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017

Posted in Income Tax | 16 comments | 50823 Views

No Shortage of Essential Drugs post GST introduction

31 July 2017 at 10:57

Minister of State for Road Transport & Highways, Shipping and Chemicals & Fertilizers, Shri Mansukh L. Mandaviya, in a written reply to a question in Rajya Sabha today, informed that as per the information received from the All Indian Origin

Posted in GST | 3084 Views

Task Force on Shell Companies for effectively tackling the malpractices

29 July 2017 at 13:23

A ‘Task Force on Shell Companies’ under the Joint Chairmanship of Revenue Secretary and Secretary, Ministry of Corporate Affairs was constituted in February, 2017 for effectively tackling the malpractices by shell companies/ponzy companie

Posted in Corporate Law | 3486 Views

Printing of Post GST Rates on Old Stock

29 July 2017 at 13:23

On account of implementation of GST there may be instances where the retail sale price printed on a pre-packaged commodity is required to be changed. The Department has issued an order according to which, manufacturers/ packers/ importers of pre-pac

Posted in GST | 8 comments | 23112 Views

BRICS countries Heads of Revenue meeting hails GST Reforms

29 July 2017 at 13:23

BRICS countries’ Heads of Revenue Meeting hails GST Reforms being introduced in India; Memorandum of Cooperation (MOC) in respect of tax matters identifying areas of cooperation signed by the BRICS Heads of Revenue at the Meeting held at Hangzh

Posted in GST | 3402 Views

Relevant part of MAT-Ind AS Committee Report

28 July 2017 at 11:26

Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provisions of the section 115JB of the Income-tax Act, 1961 in respect of Ind AS Compliant Companies.Under Ind AS, there are cert

Posted in Accounts | 5691 Views

Benami Transactions Across the Country

27 July 2017 at 11:06

The Government of India has taken several steps to address the problem of benami transactions across the country. (i) The Benami Transactions (Prohibition) Act, 1988 (the Act) was comprehensively amended through the Benami Transactions (Prohibition)

Posted in Income Tax | 5847 Views

Benefits of GST for the Transport Sector

27 July 2017 at 11:06

The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales ta

Posted in GST | 8832 Views

Issues arising from implementation of MAT on IAS compliant companies

26 July 2017 at 10:43

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesIssues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounting Standards (Ind AS) compliant companies.Finance Act,

Posted in Corporate Law | 4005 Views