Environment created after change in policy of appointment of branch statutory auditors (giving autonomy to bank management) has not yielded desired results for the banking industry. Our regulatory body, the Institute of Chartered Accountants of India (ICAO has been opposing this change from the very beginning.
The Government is aware of instances where taxes are collected by many service providers, hoteliers, traders etc. from the customers but are not deposited in the Government’s account. Based on specific intelligence collected, detailed investigations are carried out and the due tax amount is either recovered or quasi-judicial proceedings are initiated. The details of such losses are as below:
Ecosystem for Fin Tech Companies The Reserve Bank of India (RBI) had set up an inter-regulatory Working Group (WG) to look into and report on the granular aspects of Fin Tech and its implications so as to review and reorient appropriately the regulatory framework and respond to the dynamics of the rapidly evolving Fin Tech […]
Rationalization of GST Policy measures: Increase in the aggregate annual turnover threshold for eligibility under the composition scheme from Rs. 75 lakh to Rs. one crore for 27 States (including Jammu & Kashmir and Uttarakhand).
IGST Refund module for exports is operational in ICES from 10.10.2017. The module has an inbuilt procedure to automatically grant refund after validating the Shipping Bill data available with Customs against the GST Returns data available with GSTN.
It has been noticed that at regular intervals, unverified estimates of pending GST refunds on account of exports are published in the print media or put forward by various trade bodies. These figures are highly speculative and mostly inaccurate
Transparent Political Funding System The Government notified the Electoral Bond Scheme, 2018 on January 02, 2018 to establish and cleanse the system of political funding in the country. Broad features of the said Scheme are under: Electoral Bond (EB) would be a bearer instrument in the nature of a Promissory Note and an interest free […]
Press Information Bureau Government of India Ministry of Railways 14-March-2018 17:24 IST Cashless Ticket Booking In Railways Following schemes have been introduced for promotion of cashless transaction on Indian Railways:- i. The facility of online booking of reserved tickets has been provided through Indian Railway Catering and Tourism Corporation (IRCTC) website. The payment for tickets […]
(i) Passengers holding confirmed ticket are aware of their coach/berth number as the same is indicated on the tickets at the time of booking itself, except in case of First Class air-conditioned class.
The Vice President of India, Shri M. Venkaiah Naidu has said that real estate developers and builders to bring in reality in real estate sector to improve economy. He was addressing the gathering after inaugurating the two-day CREDAI Conclave, here today.
