6 important decisions taken in the last six Meetings of the GST Council are: i. The threshold limit for exemption from levy of GST would be Rs.20 lakhs for normal States (Rs.10 lakhs for the Special Category States enumerated in Article 279A of the Constitution).
Students are advised not to make queries as well as requests for change of examination centres as the Institute will not be able to accede to their requests due to practical difficulties.
Guidance Note on Accounting for Oil and Gas Producing Activities, issued by Council of ICAI for entities to whom Ind ASs are applicable.
It is brought to the notice of tax payers that any instance coming to the notice of Income-tax Department which reflects manipulation in the amount of income, cash-in-hand, profits etc. and fudging of accounts may necessitate scrutiny of such cases so as to ascertain the correct income of the year and may also attract penalty/prosecution in appropriate cases as per provision of law.
Presently, cleaning the system from black money and corruption is very high on my agenda. This comes closely after digitisation and introduction of GST.
FM Said that Demonetisation is actually a step in the direction of less cash economy. It’s our strategy that from high cash dominated economy we should become a less cash economy where the amount of paper currency comes down. Cash will still exist and there would be a greater digitisation.
The Congress Party has made a wild allegation of corruption in the NEEPCO under Kameng Hydro Power Projects in Arunachal Pradesh.
While there is no single, internationally-agreed definition, typically, the black economy refers to people who operate entirely outside the tax system or who are known to tax authorities but deliberately misreport their tax (and superannuation) obligations. The black economy can also include those engaged in organised crime, including those who engage in the production and sale of prohibited goods.
Extension of Last Date for Submission of Application Form for Financial Assistance from Chartered Accountants’ Students Benevolent Fund (CASBF)
CBEC released FAQ on GST in English, Hindi, Assamese, Gujarati, Malayalam, Punjabi Telugu and Kannada for the benefit of General Public
