Decision to deny oral hearing at the income tax appellate stage needs to be reconsidered as otherwise the same shall not only be in violation of the principles of natural justice but the same shall also suffer from the vice of unfairness.
In the ensuing initiative to counter the menace of fake billing operations, the officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi North, on the basis of intelligence developed through extensive data analytics, have unearthed a network of fictitious firms to generate goods-less invoices and pass-on fake Input Tax Credit to multiple beneficiaries.
Extension of the Last Date for submission of application for Empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2021-22
The Income Tax Department carried out search and survey operations on a group based in Mumbai on 08.02.2021. This group is mainly engaged in the business of manufacturing of Gutkha, Pan masala and allied substances, besides having operations in hospitality sector. The searches were carried out across many locations in India and concluded on 13.02.2021.
On 15th February ICAI notified that it has removed name of 7 members from the Register of Members for the period of 15 days to Two Years depending upon the nature of Professional Misconduct. Full text of such notifications are given below- THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Notification No. PR/237/15-DD/261/15/DC/767/2018 New Delhi, the […]
The complexities of UAE VAT regime and the Federal Tax Authority or FTA’s current targeting for tax evasion and avoidance means tax disputes are increasingly arising. There will be instances wherein you disagree with an assessment or decision that is made by the local tax authority. If you are in complete disagreement with a certain […]
CMA Institute is in the process of initiating formation of Multi-disciplinary Partnership Firms for practicing members of the Institute with members of other professional bodies as per the CWA Act and Regulations.
15th Instalment of Rs.6,000 crore released to the States to meet the GST compensation shortfall. A total amount of Rs. 90,000 crore released so far to all States and UTs with legislature. This is in addition to additional borrowing permission of Rs.1,06,830 crore granted to the States.
Attention: Functionality to opt in for composition has been made available for FY 2021-22 in the Dashboard of taxpayers at Common Portal. The eligible taxpayers, who wish to avail the composition scheme may opt in for composition up to 31st March 2021. Source- gst.gov.in Also Read- How to Opt for GST Composition Levy with FAQs […]
Our Hon’ble Prime Minister Shri Narendra Modi ji has given a vision of Empowering the Nation with Women led Development. ICAI has always strived for excellence in its various endeavours and truly believes in empowerment of women. We have Women Members Empowerment Directorate at ICAI to meet its objectives of encouraging empowerment of women in […]
