Ministry of Finance TDS Surveys by Income Tax Department unearths huge defaults in deduction and deposit Posted On: 04 MAR 2020 In a major breakthrough, the Tax Deducted at Source (TDS) wing of the Income Tax Department has unearthed default of TDS of Rs 324 crore in the case of a major Telecom Operator in […]
During investigation, it was revealed that M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited & M/s Ganpati Enterprises have issued invoices worth more than Rs 4,198 Crores wherein Tax amount of more than Rs 660 Crores has been fraudulently passed on as ITC credit to buyers of such fake invoices.
Companies (Second Amendment) Bill, 2019 would remove criminality under the Act in case of defaults which can be determined objectively and which, otherwise, lack the element of fraud or do not involve larger public interest. This would also lead to further de-clogging of the criminal justice system in the country.
Start to end online faceless process of GST Registration. GST Registration given through common portal https://www.gst.gov.in. If no action is taken by Registrating Authority within 3 Working Days, Registration Application is auto-approved. Any defect in Registration Application is communicated online and compliance to which is also taken online. Registration process is paperless. Applicant need not to visit Registration Authority for any reason.
The objective of the consultation paper is to seek comments/views from the public on the proposals that are expected to strengthen the regulatory framework for Corporate bonds, secure the interest of the debenture holders, enhance the role of the Debenture Trustees (DTs) and empower them to effectively discharge their responsibilities towards the debenture holders of listed debt issues / proposed to be listed debt issues.
Dated: 02/03/2020 a. Government of India vide Notification No. 07/2020–Central Tax, dated 03rd February, 2020, has staggered filing of Form GSTR-3B, for the month of February 2020, in the manner as given below: Sl. No. Taxpayers with aggregate turnover (PAN based) in the previous financial year And Taxpayers having principal place of business in the […]
Ministry of Finance Major Racket of Fake Invoicing of Rs.7896 Crore Busted Involving Network of 23 Shell Companies Two Accused Arrested & Remanded to 14 Days Judicial Custody The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of Rs.7896 crore involving fraudulent Input Tax […]
The term Those Charged with Governance (TCWG) refers to either an individual, or a body of individuals, or a separate legal entity with the responsibility for overseeing the strategic direction and accountability of the organisation.
Compliance is a key concept in Internal Audit and this Standard seeks to clarify both, the concept and the responsibility of the Internal Auditor, Management and other Stakeholders, with respect to Compliance with Laws and Regulations (CLR), in line with their professional obligations.
Governance is a key concept in Internal Audit and this Standard seeks to clarify both, the concept and the responsibility of the Internal Auditor, Management, and other Stakeholders, with respect to governance, keeping in mind their legal, regulatory, and professional obligations.
