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Archive: May, 2023

Posts in May, 2023

GST Collection In April, 2023 At Record High

May 2, 2023 6342 Views 0 comment Print

April, 2023 has registered a revenue collection (GST) at Rs. 187 lakh crore, which is the highest ever since introduction of GST in July, 2017. GST revenue for April, 2023 are 12 percent higher than April, 2022. Also, this April saw the highest single-day collection of Rs. 68,228 crore through 9.8 lakh transaction on the […]

Delayed payment of employee’s contribution to PF & ESI adjustable u/s 143(1)

May 2, 2023 5091 Views 0 comment Print

ITAT Mumbai held that payment of employee’s contribution to PF & ESI beyond the due dates is not allowable as deduction. Accordingly, the same is an incorrect claim and therefore it falls within the scope of prima facie adjustment u/s 143(1) of the Income Tax Act.

Foreign Travel not covered u/s. 10(5) hence TDS deductible on same u/s 192(1)

May 2, 2023 9345 Views 0 comment Print

Supreme Court held that travel with a foreign leg is not covered under the provisions of section 10(5) of the Income Tax Act. Accordingly, TDS deductible on the same under section 192(1) of the Income Tax Act.

Quick Reference for Standards on Auditing- SA 200

May 2, 2023 12993 Views 0 comment Print

SA 200 establishes the independent auditor’s overall responsibilities and explains the nature and scope of an audit when conducting an audit of Financial statements in accordance with SA’s.

Contemporary Judicial Approach of Equal Pay for Equal Work

May 2, 2023 2856 Views 0 comment Print

Equal pay for equal work does not imply that there should be equal pay for all types of work. Rather, it refers to equal work for the same job. Different occupations, professions, and locales pay different wages.

निवेश एवं बचत की शुरुवात कब से करनी चाहिए और क्यों?

May 2, 2023 1947 Views 1 comment Print

अब जब ये मामला हमारे जीवन की वित्तीय समस्यायों से सम्बंधित हो तो और भी अच्छा होगा कि वित्तीय आत्मनिर्भरता जितनी जल्दी पा ली जाये उतना ही हमें अपने जीवन को जीने का समय मिल जाता है वरना सारी ज़िंदगी कमाने धमाने में ही निकल जाती है.

Internal Audit in India: Evolution, Risks & Strategies for Effective Risk Management & Mitigation

May 2, 2023 2367 Views 0 comment Print

Explore the evolution of internal audit in India, its strategic role, and the emphasis on risk management, governance, technology, and sustainability. Learn effective strategies for risk mitigation.

Time barring of Scrutiny of GST Returns of Delhi taxpayers

May 2, 2023 7392 Views 0 comment Print

The whole process of scrutiny of return u/s 61 and rule 99 of DGST Act takes around 5 to 6 months, hence, all Ward Incharges/Proper Officers are hereby advised to ensure timely issuance of order u/s 73(9) for the scrutiny of returns for periods as mentioned in the CBIC vide Notification No. 9/2023 Central Tax dated 31.03.2023.

New functionalities in ADVAIT to detect outliers & anomalies in GST & Customs

May 2, 2023 8643 Views 0 comment Print

Directorate of Systems and Data Management has come up with a new suite of functionalities in ADVAIT (Advanced Analytics in Indirect Taxation). The new functionalities are intended to enable a deeper and richer analysis of revenue and of trends in both import and export.

Powering the Labor Movement: Importance of Trade Unions in India’s Workplace

May 2, 2023 6408 Views 0 comment Print

Unions have been a powerful force in the labor movement for many years, advocating for fair wages, safe working conditions, and social justice and protecting other rights guaranteed to workers in the industry.

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