News

Because of the recent disturbances in the North Eastern region of India, the Central Board of Direct Taxes has decided to extend the date for payment of 3rd installment of Advance Tax for FY 2019-20 from 15th December 2019 to 31st December 2019 for the North Eastern Region. The Income Tax Department..

Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and CustomsNotification No. 67/2019 – Central Tax New Delhi, the 12th December, 2019  G.S.R.....(E).–In exercise of the powers conferred by section 168 of the Central Goods and Services T..

The National Financial Reporting Authority (NFRA) has issued Audit Quality Review (AQR) report of the statutory audit for the year 2017-18 of IL&FS Financial Services Limited (IFIN). The statutory auditor for this engagement was Deloitte Haskins and Sells LLP (DHS). This is the first AQR repo..

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today approved the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (code), through the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019.  The amendments aim to remove certain difficulties bein..

Advisory on Exhibit B3 of SEBI’s Circular dated 29th March 2019 regarding Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity 1    As the members are aware that SEBI has i..

CA Final November 2019 results are likely to be announced between 15th January 2020 to 20th January 2020 and the results of CA Inter/IPC November 2019 are likely to be announced in the first week of February. However, the institute has not made any official announcement in this r..

The government has changed the constitution of the group of ministers for IGST. Various questions were being raised on why the government decided to make this move and changed the constitution of the ministers. Read below the reasons stated by the government for making the change: With ref..

Questions were being raised about how successfully the government has processed the refund applications under GST. The Union Minister for Finance for state gave the following data on refund applications: A number of companies applied for a Goods & Services Tax (GST) refund since the introduct..

While addressing a question related to GST in the Lok Sabha Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs stated that GST Seva Kendras resolve complaints related to GST. He also gave the details of complaints reported to the GST Seva Kendras. Read his rep..

ICAI recently made an Announcement on Applicability of "Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements" to Statutory Auditors of Listed Entities and their Material Subsidiaries. The Auditing and Assurance Standards Board of ..