The Chartered Accountants Act, 1949 (Act) provides for imposition of penalties on members of the Institute of Charted Accountants of India (ICAI). The ICAI had submitted a proposal to the Government for amendment to the Act to, inter alia, provide for registration of audit firms, procedure for taking necessary disciplinary action against audit firms (on […]
Where joint auditors are appointed, they should, by mutual discussion, divide the audit work among themselves. The division of work would usually be in terms of audit of identifiable units or specified areas. In some cases, due to the nature of the business of the entity under audit, such a division of work may not be possible.
Job Vacancy in a Real Estate Company at Mumbai Location for Chartered Accountants having 8 to 12 Years of Experience for the post of DGM- Accounts and Finance.
Attention Exporters: Provide complete and correct Shipping Bill Number while filing Table 6A of GSTR-1, to ensure that the GST System transmits the export invoice data, in case of export of goods with payment of IGST, to ICEGATE for refund. Steps to be followed by taxpayers, who have submitted FORM GSTR 3B but not filed […]
Investing in the share market could be a scary thing. The temptation of making big money has always hurled the investors into stock markets. However, doing well with equities isn’t easy. It not just requires discipline and patience, but also a lot of research and a comprehensive understanding of the stock market, among others.
RBI has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions/guidelines issued by RBI.
What are different payment status types? 1. Initiated – If no intimation has been received from Bank (during the re-ping in case of E-payment) 2. Paid – CIN received by taxpayer and status updated on portal as PAID 3. Not Paid – default status on challan generation 4. Failed – Failure of any online transaction initiated by taxpayer
1. My account was debited more than once for the same online transaction. How can I get the debit reversed? If the sum of both transactions is reflecting in the Electronic Cash Ledger, please contact the Help Desk using the contact numbers/e-mail IDs given on the GST Portal. In case only the original transaction amount […]
1. What is Suo Moto Registration under GST? Where a person who is liable to be registered under GST fails to obtain registration, Tax Officials working in enforcement wings of their respective State/Central Tax Department, can initiate the process of generation and allotment of Temporary ID through the Suo Moto registration facility available to them […]
What is the process to cancel the GST registration in case of death of sole proprietor? How can a legal heir transfer the ITC to a new entity in case of death of sole proprietor?
