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Fulfilled obligations under PML Rules: RBI to NBFCs
Non-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do soPrevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s...
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ICAI members to pay Membership/ COP Fees by 30.09.2018
Kind Attention of the MembersPayment of Membership Fee and Certificate of practice Fee for the year 2018-19We take the opportunity to request you to renew your membership with the Institute by remitti...
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GST on Skill Development, Start-Ups and Tourism
All kinds of representations received from the trade and industry (including start-ups) regarding GST rates on services have been deliberated in the Fitment Committee. Government has exempted various...
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States Exempted from Tax Refund after GST
The North Eastern and Hilly States have not been provided exemption from tax refund till March, 2027 under GST. The GST Council in the meeting held on 30.09.2016, had decided that all entities exempte...
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Clarity on E-Way Bill
Government has received various representations from Association of Exporters as well as Corporate Bodies seeking clarity on e-way bill regarding movement of goods from dry-ports to sea ports and from...
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MCA notifies norms for appointment of Chairperson & members of NFRA
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 21st March, 2018G.S.R. (E) ._ In...
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MCA notifies Provisions related to appointment of Chairperson and Members of NFRA wef 21.03.2018
Government of IndiaMinistry of Corporate AffairsNotificationNew Delhi the 21St March, 2018S.O. ____ (E).- In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013...
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Cabinet approves revision of DTAA between India and Qatar
Cabinet approves revision of the Agreement between India and Qatar for the avoidance of double taxationand for the prevention of fiscal evasion with respect to taxes on incomeThe Union Cabinet chaired...
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India & Hong Kong sign Double Taxation Avoidance Agreement
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 19th March, 2018.PRESS RELEASEIndia and Hong Kong sign Double Taxation Avoidance Agreement (DTAA)On 1...
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Task Force for drafting a New Direct Tax Legislation
Questionnaire for inviting suggestions and feedback on the Income-tax Act, 1961 from the stakeholders and general publicTask Force to draft a New Direct Tax Law(Suggestions and Feedback from Stakehold...
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MCA notifies National Financial Reporting Authority (NFRA)
MCA has, vide Notification dated 21st March, 2018, notified sub-sections (3) & (11) of section 132 of the Companies Act, 2013 relating to manner of appointment and other terms and conditions of Servic...
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Advisory for change in taxpayer type from SEZ to Regular or Regular to SEZ
Migrated taxpayers who have inadvertently selected themselves as SEZ, can send their requests to become SEZ on the email: reset.sezflag@gst.gov.in.Taxpayers who have not migrated as SEZ, can send thei...
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CBI Arrests Kolkata Based Private Company directors in Bank fraud case
CBI ARRESTS TWO DIRECTORS OF A KOLKATA BASED PRIVATE COMPANY IN AN ON-GOING INVESTIGATION OF A BANK FRAUD CASE OF Rs.515.15 CRORE(APPROX)Press Release New Delhi, 15.03.2018The Central Bureau of Invest...
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Report of RBI Working Group on Fin Tech and Digital Banking Companies
Report of RBI Working Group on Fin Tech an& Digital Banking CompaniesEcosystem for Fin Tech CompaniesThe Reserve Bank of India (RBI) had set up an inter-regulatory Working Group (WG) to look into and...
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Statutory branch audit of branches of PSU banks- In wake of recent developments/ irregularities in PNB
KSCAA along with Lucknow Chartered Accountants Society, Bombay Chartered Accountants Society and Chartered Accountants Ahmedabad have made a joint representation on ‘Statutory audit of branches of PSU...
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Govt detects 2926 cases where Taxes collected but not deposited by Service Providers
Taxes collected by Service ProvidersThe Government is aware of instances where taxes are collected by many service providers, hoteliers, traders etc. from the customers but are not deposited in the Go...
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Goods and Services Tax Rate and Policy Rationalization measures
Goods and Services Tax Rate and PolicyBased on the various representations received from the trade and industry, the GST Council has recommended a number of measures pertaining to change in Goods and...
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107 companies and 7 LLPs under SFIO scanner in PNB fraud case
The Government has ordered investigation into the affairs of 107 companies and 7 LLPs under the provisions of Section 212(1)(c) of the Companies Act, 2013 and Section 43(3)(c)(i) of Limited Liability...
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Features of Transparent Political Funding System
Broad features of Transparent Political Funding SystemTransparent Political Funding SystemThe Government notified the Electoral Bond Scheme, 2018 on January 02, 2018 to establish and cleanse the syste...
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India’s Growth Story Since 1990s Remarkably Stable & Resilient: World Bank
Sustained acceleration to 8% plus growth will require durable momentum in investments, exports and bank creditThe Indian economy is set to revert to its trend growth rate of 7.5 percent in the coming...