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Fake ITC on bogus invoices – Navi Mumbai CGST arrests one person
Navi Mumbai CGST arrests one person for availing and passing on fake ITC on bogus invoices amounting to Rs 181.67 Crores On 7th September 2022, the Director handling the business activities of M/s Rob...
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CGST Mumbai busts Rs. 142 Crore fake GST invoice racket
One person arrested in the case Officers of CGST Mumbai South Commissionerate have busted a fake GST invoice racket, which was used to pass on fake GST Input Tax Credit (ITC) of Rs. 27.80 crore on inv...
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Net Direct Tax collection till 08.09.2022 registers a growth of 30.17%
Direct Tax Collections for F.Y. 2022-23 up to 08.09.2022 The provisional figures of Direct Tax collections up to 8th September, 2022 continue to register steady growth. Direct Tax collections up to 8t...
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Income Tax dept searches prominent business groups in Maharashtra
The Income Tax Department carried out a search & seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medic...
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Submission of information pertaining to ‘Unclaimed Non-convertible Securities’
Listed entities are advised to take note of the below notice inter alia advising regarding Submission of information pertaining to ‘Unclaimed Non-convertible Securities’ as on August 31, 2022, as per...
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FAQs on SEBI Settlement Scheme, 2022
Frequently Asked Questions (FAQs) on the SEBI Settlement Scheme, 2022 The Securities and Exchange Board of India has introduced a Settlement Scheme, 2022 (“the Scheme”) vide Public Notice dated August...
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RBI issues List of unauthorised forex trading platforms
Reserve Bank of India Alert List The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operat...
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ICAI advises auditor to seek direct confirmation from banks
Auditing and Assurance Standards Board & Professional Development Committee The Institute of Chartered Accountants of India 7th September, 2022 External Confirmations through Third Party Vendors Exter...
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Capital Gain Exemption – Section 54EC bond discontinued by NHAI
National Highways Authority of India (Ministry of Road Transport and Highway) NHAI/54 EC Bonds/2022-23/Collecting Banks The followings collecting Banks of NHAI 54EC Bonds:- Dated: 03.09.2022 Mr. Sung...
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Section 10(46) CBDT notifies Haryana Electricity Regulatory Commission
CBDT notifies Haryana Electricity Regulatory Commission under Section 10(46) of income Tax Act, 1961 vide Notification No. 108/2022 – Income Tax | Dated: 5th September, 2022 MINISTRY OF FINANCE (Depar...
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CBDT notifies CERSAI under Section 10(46)
CBDT notifies ‘Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI )’ under Section 10(46) of income Tax Act, 1961 vide Notification No. 107/2022 – Income Ta...
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CBDT notifies Control of income-tax authorities under Section 118
of the Income-tax Act, 1961 vide Notification No. 106/2022- Income Tax | Dated: 2nd September, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification...
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Piyush Goyal asks CAs all over the world to be ambassadors of Brand India
Shri Goyal asks Chartered Accountants all over the world to be ambassadors of Brand India Asks Chartered Accountancy firms in India to develop global partnerships and become international firms Asks C...
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Mauritius now Largely Compliant with all 40 FATF Recommendations
REPUBLIC OF MAURITIUS PRESS COMMUNIQUE Technical Compliance Re-Rating of FATF Recommendation 15 The Minister of Financial Services and Good Governance participated in the 22nd Eastern and Southern Afr...
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Chinese Loan App Case – ED searches 6 premises in Bengaluru
Directorate of Enforcement ED has been carrying out search operations under the provisions of the PMLA, 2002 on 02.09.2022 at 06 premises in Bengaluru, in respect to an investigation relating to the C...
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CBDT relaxes quoting of PAN-Aadhaar No. in certain transactions
vide Notification No. 105/2022 -Income Tax | Dated: 1st September, 2022. MINISTRY OF FINANCE (Department of Revenue) (Central Board of Taxes) New Delhi Notification No. 105/2022 -Income Tax | Dated: 1...
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63 SCN issued to manufacturers/importers of weighing & measuring instruments
Centre issues 63 show cause notices to the manufactures/importers of weighing and measuring instruments to seek details of compliance Centre, through Department of Legal Metrology has issued 63 show c...
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Siphoning off foreign exchange – ED attaches properties of G V Films
ED has seized immovable property at Thanjavur valued at Rs. 8.94 Crore belonging to M/s G V Films Limited, Chennai under FEMA, 1999 in connection with siphoning off foreign exchange in the guise of is...
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ICAI requests its members to pay Annual Membership & COP Fees
Members & Students Services Directorate The Institute of Chartered Accountants of India 29th August, 2022 ANNUAL FEE CIRCULAR 2022-23 ICAI requests its Members to remit Annual Membership/Certificate o...
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ICAI President’s Message – September 2022
Dear Professional Colleagues, As we celebrate 75 years of Independence, it is a matter of pride that globally India has grown to become the 6th largest economy as per data released by World Bank. In f...