To promote ease of doing business, the government is working on a proposal to decriminalise certain offences under the goods and services tax (GST) by raising the threshold limit from Rs 2 crore to Rs 5 crore in tax evasion cases."A proposal is
Tax authorities issuing show-cause notices will have to complete all enforcement and consequential action against the assessee against whom GST evasion was detected, the GST Council has said.
The Centre's direct tax revenues may rise 25-30% on year, allowing it to net an additional Rs 2.5 trillion over the budget estimate (BE) after the mandatory devolution to states, a senior finance ministry official said.
A new system is in the works where web-based registration of goods exports would be allowed, to facilitate the integration of Customs systems with other regulatory agencies.
Use of designation "Chartered Accountant" or prefix "CA" by members while expressing views on professional/non-professional matters publicly including on social media
From 01st November, 2022, Phase-2 would be implemented on GST Portal and the taxpayers with up to Rs 5 crore turnover would be required to report 4-digit HSN codes in their GSTR-1.
Considering the various requests received from the members of ICAI, it has been decided to extend the last date for submission of Multipurpose Empanelment Form for the year 2022-23 from 28th October 2022 to 9th November 2022.
Advisory on sequential filing of GSTR-1
Even as taxpayers are reporting slowness in the GSTN portal, the Central Board of Indirect Taxes and Customs (CBIC) on Friday said the due date for filing GSTR 3B return for September has been extended by one day till October 21.
ICAI contended that its activities are not profit oriented and submitted that the fees collected from the students are utilized on various infrastructure development and other capital expenditure items.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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