There are lot of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as transition credit, the income of Government this month has plummeted.
There are lot of apprehensions expressed in the media about the problem of blockage of working capital for exporters post-GST. There are various figures also being discussed on the blockage of such funds, which are wild estimates. Such media reports are not based on facts.
The central government today announced that the benefit of interest subsidy of about Rs.2.60 lakh on home loans under Pradhan Mantri Awas Yojana (Urban) will now be available for beneficiaries belonging to Middle Income Groups (MIG) fir fifteen more months beyond December this year.
At Chennai Port Trust manual form-13 has been dispensed. Both Terminals (CCTPL & CITPL) are issuing e-form 13 only. The CFS gate module in ICES system is not yet completed. Hence the processing & transfer of export related details from CFS to Terminal gates cannot be done electronically.
Blue whale game (The suicide game) is abetment to suicide. It is understood through various internet reports that it is shared among secretive groups on social media networks. The creators seek out their players/victims who are in depression and send them an invitation to join.
Indian Accounting Standard (Ind AS) 18, Revenue , prescribes the recognition and measurement principles for revenue arising from certain types of transactions and events. Since revenue is an element which can influence the decisions of the users of the financial statements, the principles prescribed in the Standard need to be applied very carefully. Moreover, with regard to certain provisions, need of practical guidance has been felt.
This publication contains an overview of various aspects related to IFRS- converged Indian Accounting Standards (Ind AS) such as road map for the applicability of Ind AS, carve-outs from IFRS/ IAS, changes in financial reporting under Ind AS compared to financial reporting under accounting standards, summary of all the Ind AS etc. It also captures all the recent amendments to Ind AS notified by the MCA in March 2017.
Students of Final (New) Course may please note that under the Revised Scheme of Education and Training, the students will be required to opt one of the following Electives papers and the examination of these Electives will be Open Book and Case Study based.
GST site is working properly and CA’s and Practitioners have created negative atmosphere to increase their remuneration and fees for filing GST which is quite unacceptable. We as a GST Practitioners feel that this irresponsible statement of Shri Rajivji Jalota is to hide the shortcomings of GSTN network to provide suitable facility to file return and other compliances.
The Delhi High Court has constituted a committee under the Chairpersonship of Justice (Retd.) Ruma Pal on the subject ‘Media reporting in courts —balancing free press, fair trial and integrity of judicial proceedings.’
