News

GST- KI- Master Class

PRESS RELEASE GST-KI-Master Class to be held on six days covering issues relating to Registration & Migration Transition & Invoice Making, Composition and Record Keeping; To be telecast Live on DD National and other Channels. Department of Revenue, Government of India and the Central Board of Excise & Customs (CBEC) are organi...

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Meaning of registered brand name in context of GST rates

Meaning of registered brand name in the context of GST rates; CGST rate of 5% will not be applicable on the supply of goods unless the brand name or trade name is actually on the Register of Trade Marks and is in force under the Trade Marks Act, 1999....

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Property, Plant and Equipment – Proceeds before Intended Use (Proposed amendments to IAS 16) – (03-07-2017)

In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 16 Property, Plant and Equipment. The amendments would prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary fo...

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On GST rate for specified items for Physically Challenged Persons

Some questions are raised about GST rates fixed for specific devices for physically challenged persons. This matter is explained here in below. Assistive devices and rehabilitation aids for physically challenged persons, listed below, have been kept at the concessional 5% GST rate: 1) Braille writers and braille writing instruments; 2) Ha...

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Record inflation augurs perfectly well for GST launch: ASSOCHAM

New Delhi, 1 July, 2017: With retail prices growing by the slowest pace in the last four years by mere 2.18 per cent, it is the perfect time for the launch of the Goods and Services Tax (GST), from inflation point of view, as this particular macro fundamental is placed at an ideal position for the roll out of the country’s most ambitiou...

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ICSI extends last date of payment of Annual Subscription for Licentiate

The payment of Licentiate Subscription for the year 2017-18 became due for payment w.e.f. 1 st April, 2017. The last date for payment of the same was 30th June, 2017 which has now been extended upto 31 st August, 2017. The annual Licentiate subscription payable is Rs.1,000/- per year....

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ICSI extends last date for payment of annual membership & COP fee

The annual membership fee and certificate of practice fee for the year 2017-2018 has become due for payment w.e.f. 1st April, 2017. The last date for the payment of fee was 30th June, 2017 which has now been extended upto 31st August, 2017....

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ICAI President’s Message-July 2017-(30-06-2017)

I wish you a very happy CA Day. On 1st July 2017, our Institute will complete 68 years of its glorious journey of excellence. Analysing the importance of accountancy profession visà- vis economic development, an IFAC study has mentioned: Accountants play an important public interest role...

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Cabinet Secretary reviews post GST situation

Cabinet Secretary reviews post GST situation with Secretaries and Senior Officers of different Departments; Ask them among others to ensure that there is adequate supply of commodities especially essential and consumer items to keep their prices under check. The Cabinet Secretary, Shri P.K. Sinha reviewed the post GST implementation situa...

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Post GST 22 States in India abolishes their check posts

The Goods and Services Tax (GST) was rolled out on 1st of July 2017. With the roll-out of the GST, 22 States in India have abolished their check posts. The details are as under -...

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