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Bogus network of 275 firms involving fake invoices of ₹ 3100 cr busted

January 28, 2022 2823 Views 0 comment Print

DGGI Ghaziabad officials bust bogus network of 275 firms involving fake invoices of more than Rs 3,100 crore The Directorate of Goods and Service Tax Intelligence, Ghaziabad Regional Unit has busted a syndicate involved in creating and controlling fake firms and issuing of bills by these fake firms without supply any Goods or Services and […]

Union Budget 2022-23 on 1st February, 2022 in Paperless form

January 28, 2022 5286 Views 0 comment Print

The Union Budget 2022-23 is to be presented by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 1st February, 2022 in Paperless form.

DGTR issues 56 final findings since April, 2021 in AD/CVD/SG investigations

January 28, 2022 1215 Views 0 comment Print

DGTR (Directorate General of Trade Remedies) of the Department of Commerce issues 56 final findings since April, 2021 in in Anti-Dumping (AD)/Countervailing Duties (CVD)/Safeguard (SG) investigations. 35 more investigations started since April, 2021 and many more are in pipeline. Introduction of self-certification to usher in a new regime of trade facilitation The duties recommended by […]

Air India strategic disinvestment completed

January 27, 2022 729 Views 0 comment Print

The Air India strategic disinvestment transaction has been completed today with Government receiving a consideration of Rs 2,700 crore from the Strategic Partner (M/s Talace Pvt Ltd, a wholly owned subsidiary of M/s Tata Sons Pvt Ltd), retaining debt of Rs 15,300 crore in Air India and AIXL and transferring shares of Air India (100% […]

Difficulties under GST faced by small and medium scale taxpayers

January 27, 2022 9525 Views 1 comment Print

We appreciate that registration process is much more improved under GSTN system than earlier laws. Due to Aadhar card, Pan card the KYC norms are reliable to decide the Genuineness of a person. Other documents may be considered accordingly.

ICAI Guidance Note on Division II – Ind AS Schedule III to Companies Act 2013

January 25, 2022 120357 Views 1 comment Print

The Government is bringing out several changes in the Companies Act, 2013 from time to time to enhance transparency by way of mandating additional disclosures. Towards the same, the Ministry for Corporate Affairs has issued a Notification dated 11.10.2018 wherein amendments have been brought in to the Schedule III to the Companies Act, 2013. The […]

CCI imposes penalty on maritime transport companies for cartelisation

January 25, 2022 1380 Views 0 comment Print

CCI imposes penalty on maritime transport companies for indulging in cartelisation The Competition Commission of India (‘CCI’) passed a final order against four maritime transport companies namely Nippon Yusen Kabushiki Kaisha (‘NYK Line’), Kawasaki Kisen Kaisha Ltd. (‘K-Line’), Mitsui O.S.K. Lines Ltd. (‘MOL’) and Nissan Motor Car Carrier Company (‘NMCC’) for indulging in cartelisation in the […]

Format for sharing Income Tax queries on helpdesk E-mail IDs

January 25, 2022 4485 Views 6 comments Print

FORMAT FOR SHARING QUERIES ON HELPDESK E-MAIL ID Sr. No. Information Details Help Details of the Person facing problem 1 Grievance ID Mention Grievance ID, if already raised at e-fling portal 2 Name of the Person Mention name of the person who can explain the issue, if contacted by helpdesk team 3 Contact Number of […]

EPFO Payroll data: EPFO added 13.95 lakh net subscribers in Nov, 2021

January 25, 2022 915 Views 0 comment Print

The provisional payroll data of EPFO released on 20th January 2022 highlights that EPFO has added 13.95 lakh net subscribers during the month of November 2021, showing an increase of around 2.85 lakh net additions over the previous month of October, 2021 with a growth rate of 25.65%.

105 Union Budget 2021-22 Provisions implemented by Government

January 25, 2022 17415 Views 0 comment Print

Finance Act, 2021 has inserted specific section 89A in the Income-tax Act, 1961 to provide relief to NRI taxpayers who have an issue with respect to their accrued incomes in their foreign retirement accounts due to mismatch in taxation period.

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