CAclubindia News

Net Direct Tax Collections Surge 21.48% YoY, Reach Rs 12.01 Lakh Crore by September 2024

19 September 2024 at 14:43

For the period from April to September 2024, gross direct tax collections have reached Rs 12.01 lakh crore, a significant rise from Rs 9.88 lakh crore collected during the same period in 2023.

Posted in Income Tax | 1461 Views

Tragic Death of Young CA at EY Highlights Toxic Work Culture Debate

19 September 2024 at 11:01

The recent passing of 26-year-old Anna Sebastian Perayil, a newly hired Chartered Accountant at Ernst & Young (EY) in Pune, has ignited a widespread discussion on social media about the prevalence of toxic work environments in India.

Posted in Students | 1 comments | 5073 Views

NFRA Releases Revised SA 600 for Public Consultation to Strengthen Group Audits

19 September 2024 at 09:13

The National Financial Reporting Authority (NFRA) has issued revised Standards on Auditing (SA 600) for public consultation, aiming to strengthen group audits in response to deficiencies highlighted in several corporate fraud cases.

Posted in Audit | 1 comments | 2184 Views

Zomato Hit with Rs 17.7 Crore GST Demand Order

19 September 2024 at 09:08

Online food delivery platform Zomato has received a GST demand order totaling Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal.

Posted in GST | 441 Views

FM Sitharaman Launches NPS Vatsalya: New Pension Scheme for Parents to Secure Children's Future

19 September 2024 at 08:59

Union Finance Minister Smt. Nirmala Sitharaman launches NPS Vatsalya in New Delhi

Posted in Income Tax | 2163 Views

Income Tax Department Raises Threshold for Filing Appeals in Tribunals and Courts

18 September 2024 at 14:40

In accordance with the latest circular from the Income Tax Department, it has raised the minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) and the High Courts and Supreme Court.

Posted in Income Tax | 3423 Views

CBDT Issues SOP for Handling Internal Audit Objections

18 September 2024 at 09:20

The Central Board of Direct Taxes (CBDT) has issued Instruction No. 2/2024 on September 09, 2024, revising the Standard Operating Procedure (SOP) for handling internal audit objections in tax assessments.

Posted in GST | 3759 Views

FM Sitharaman Hints at GST Rate Rationalisation to Simplify Tax Structure

18 September 2024 at 09:12

On September 16th, Monday, Union Finance Minister Nirmala Sitharaman said that the Narendra Modi government is keen on the process of rationalising the GST rates to make them hassle-free and there is also the likelihood of a reduction of rates.

Posted in GST | 2361 Views

GSTN Releases Draft Manual on Invoice Management System

18 September 2024 at 09:10

In a significant leap forward in the Goods and Services Tax (GST) ecosystem, the GST Common Portal has unveiled a ground breaking new facility, the Invoice Management System (IMS), revolutionizing the way recipient taxpayers interact with invoices.

Posted in GST | 3474 Views

GSTN Issues Advisory On Re-opening of Reporting ITC Reversal Opening Balance

18 September 2024 at 09:07

Vide Notification No. 14/2022 - Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST, Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B

Posted in GST | 5928 Views