Not issuing GST bills to buyers will attract penalty of ₹25,000

Not issuing GST bills to buyers to cost Chandigarh retailers ₹25,000

Launching a crackdown on evasion of goods and services tax (GST), the UT excise and taxation department has formed teams to challan retailers not issuing bills to customers.
At the same time, the department is working on launching a mass awareness campaign to exhort

More than 1,000 individuals have so far registered with the independent directors'' database portal established under the Companies Act

More than 1,000 individuals have so far registered with the independent directors'' database portal established under the Companies Act, according to an official.
The databank is expected to become a comprehensive repository of both existing independent

6 key changes in ITR-1 you need to know

Effectively, the government will now be able to link the passport number and PAN of all those filing ITR 1 for current financial year. This is because the income tax return form 1 notified for financial year 2019-20 requires the filer to mandatorily mention passport number if any and of course the form

Late Fee,Interest under GST

Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. Section 

Late Fee

The GST late filing penalty has been specified as follows:

♦

A person fails to furnish details of outward or inward supplies, monthly return

CBIC notifies certain sections in the Finance (No.2) Act, 2019 pertaining to CGST & IGST Act, effective from 1st January 2020

The Central Board of Indirect Taxes & Customs ("CBIC") has notified the following Sections of the Finance (No.2) Act, 2019 which pertain to various sections in the Central Goods and Services Tax Act, 2017 ("CGST Act") w.e.f January 1st, 2020 vide Notification No. 01/2020 - Central Tax dated January 1st, 2020 -

Download Income Tax Compliance Calender for C.Y. 2020

Click here to download

 

Click twice if page does not open

Govt releases FAQs on e-invoicing under GST

The Finance Ministry has come up with ‘Frequently Asked Questions (FAQs) on ‘e-invoicing’ under the GST system, reaffirming the government’s intent to implement ‘e-invoicing’ for GST.

This also reaffirms the fact that the government is ready from a technology stand point to introduce e-invoicing as planned, said GST experts.

The introduction of e-invoicing — for B2B businesses — is also expected to curb

ICAI convocation ceremony at Mumbai

Vacancy for Accountants in Asian Paints

Click here to apply

Pls click on the above link twice if doesnt open in one click

Winner of Top commentator contest for the month of December 2019

The winner of Monthly Top commentator Award for the month of December 2019 is Nirav with 110 comments on various post. Congratulations! Nirav you are eligible for winning Rs.1000/- from

ICAI declares May 2020 CA Exam time table

https://resource.cdn.icai.org/57877icaiexam010120.pdf

The last date for the mandatory linking of the Permanent Account Number (PAN) with Aadhaar has been extended

"The due date for linking of PAN with Aadhaar as specified under sub-section 2 of section 139AA of the Income-tax Act, 1961 has been extended from December 31, 2019 to March 31, 2020," the

TAXPAYER ALERT|MAJOR CHANGES IN GST ITC RULE FROM JAN 2020|ITC WILL BE BLOCKED DUE TO THIS MISTAKE

What will happen if PAN is not linked with Aadhaar by December 31?

The deadline to link PAN with Aadhaar is just a few days away, i.e., December 31. According to income tax laws, if PAN is not linked with Aadhaar by this date, then your PAN will become inoperative.
The government is yet to specify the meaning of the word 'inoperative' even though the rule regarding this was amended in the July 2019 Budget. The amendment had come into effect from September 1,

Mukesh Ambani family case: I-T department seeks details from seven nations

The income-tax department has sought detailed information from its counterparts in seven countries in connection with an on-going investigation against members of the Mukesh Ambani family under provisions of the Black Money Act, 2015, for what it alleges undisclosed foreign income and assets. The seven countries are the US, the UK, Switzerland, St.
Lucia, Mauritius, Luxembourg and Belgium. The queries, sent last month, were mainly about Capital

How to link PAN with Aadhaar

PAN, Aadhaar linkage is mandatory; here is how you can do it

The Supreme Court (SC) has allowed linking of PAN with Aadhaar while reading out its verdict on the constitutional validity of Aadhaar. The apex court also said that Aadhaar is a must to file income tax return (ITR) and also to apply for a new PAN.
As per the Central Board of Direct Taxes (CBDT) notification dated September 28, 2019, the

ICAI:Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2019-20

We are pleased to inform that the Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2019-20 has been hosted at www.meficai.org for indicating the category of the applicants of Multipurpose Empanelment Form for the year 2019-20.

MEF Portal fetches the data from the common pool of ICAI database. ICAI has upgraded its

The Trump Tax Cut in 2020: A Calculator

Are you better off than you were three years ago?

Tax cut calculator
Forbes

Taxpayers will be pondering the tax cut in April, and again in November. I decided to do a little experimenting with the tax code, using a spreadsheet that I invite you to download.
The 2017 tax cut that its main promoter described as huge is a mixed blessing. It dished out some big

Names of Audit Firms approved for appointment as Statutory Central Auditors in the 18 Public Sector Banks for the year 2019-20

Names of Audit Firms approved for appointment as Statutory Central Auditors in the 18 Public Sector Banks for the year 2019-20

https://m.rbi.org.in/scripts/bs_viewcontent.aspx?Id=3802

Legal Caution : While writing a date in upcoming year 2020

Legal Caution : While writing a date in upcoming year 2020 , we should write that in its full format, e.g. 31/01/2020 and not as 31/01/20.,bcoz anyone can change it to 31/01/2000 or 2011 or 31/01/2099

FY19 results of Start-up companies

FY19 results of Start-up companies:

(Courtesy: Financial Express).

Flipkart: 4234 crore revenue & 1624 crore loss.

Amazon: 7594 crore revenue & 5685 crore loss.

Non-filing of Goods and Services Tax (GST) returns could result in attachment of bank accounts or cancellation of registration

Non-filing of GST returns may result in attachment of bank accounts: ReportThe Central Board of Indirect Taxes and Customs (CBIC) has formed an SOP for dealing with defaults on GST payments.

https://www.moneycontrol.com/news/business/non-filing-of-gst-returns-may-result-in-attachment-of-bank-accounts-report-4762001.html

ICSI : Postponement of CS Exams scheduled on 20thand 21stDecember 2019 at all Centres across the Country and Abroad

https://www.icsi.edu/media/webmodules/Postponement_of_CS_Exams_scheduled_on_20th_and_21st_December_2019_at_all_Centres_across_the_Country_and_Abroad.pdf

Gst council further extends date for filing GSTR 9 for FY. 2017-18

https://www.moneycontrol.com/news/business/gst-council-meeting-live-updates-gst-rate-slabs-nirmala-sitharaman-gst-rate-revision-4741761.html

CBIC further extends enabling New Changes in GSTR-9 and GSTR-9C to Dec 21

The Central Board of Indirect Taxes and Customs ( CBIC ) has further extended the enabling new changes in Annual Return (GSTR-9) and the Reconciliation Statement ( GSTR-9C ) to December 21st, 2019.
Recently, the Central Government has made some changes in the forms of Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C) vide Notification No. 56/2019 dated 14.11.2019. Accordingly, the changes in the application software and the offline tools are likely to be made

Coming from January 1, machine-readable GST e-invoices

Beginning January 1, a game changing invoicing system will be introduced in the Goods and Services Tax (GST) system. A standardised protocol, powered by the Institute of Chartered Accountants of India (ICAI) and information technology,

Insist on GST Bill next time Govt is likely to award you five times the bill value

Taking a copy of the bill from the seller may turn rewarding, with the government planning a lottery scheme for customers to improve compliance. The measure is being explored by the revenue augmentation officers committee to boost collections and it may be put before the Goods and Services Tax (GST) Council during its meeting on December 18.

The Consumer Welfare Fund, where anti-profiteering proceeds are deposited, will be used to reward the lucky winners on monthly and annual bases. The prize money, yet to be fixed, may run into several lakhs of rupees for the annual draw, and about Rs 50,000 for monthly draws.

“The idea is to encourage consumers to ask for a bill, which will push sellers to become GST compliant and pay tax. A lot of beauty parlours and small hotels, for

Chartered Accountants joining Unrecognized ‘Networks’ for Professional Work amounts may result in Disciplinary Proceedings: ICAI

The Institute of Chartered Accountants of India (ICAI) today clarified that, Chartered Accountants joining Unrecognized ‘Networks’ for Professional Work amounts may result in Disciplinary Proceedings.

The ICAI has said that, It has come to the knowledge of the Institute that many members in practice are joining/associating themselves with “Networks” which are other than the Networks registered with the Institute, with the mutual referral

Union ministry of corporate affairs disqualifies 5,023 directors of companies in Andhra Pradesh

 The Registrar of Companies (RoC) has disqualified 5,023 directors, including honchos of Akshaya Gold Farms and Villas India Limited, of Andhra Pradeshfor violating the provisions of the Companies Act. 
The director identification number(DIN) of these individuals has also been deactivated. They have been barred from being a director for non-filing of annual returns and balance sheets. According to the Union ministry of corporate affairs

Piyush Goyal to Replace Nirmala Sitharaman as Finance Minister? Social Media Abuzz With Speculation Amid Economic Crisis

Union Minister Piyush Goyal, Ministry of Finance and FM Nirmala Sitharaman. (Photo Credit: File Image)

New Delhi, December 10: With the country reeling under the pressure of slow economic growth and opposition taking jibes at the ruling dispensation, speculation is rife on social media that present

ICAI: Announcement on Applicability of “Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements” to Statutory Auditors of Listed Entities and their Material Subsidiaries

Announcement on Applicability of “Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements” to Statutory Auditors of Listed Entities and their Material Subsidiaries

1    The Auditing and Assurance Standards Board of ICAI issued “Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements” on 30th November 2018. Paragraph 25 of the aforesaid Implementation Guide which prescribes applicability

Key changes and simplifications of GSTR-9 & GSTR-9C for taxpayers

GSTR-9 and GSTR-9C simplification have surely given the taxpayers much-needed relief.Geet

Highlights

• In addition to the extension, CBIC also simplified forms GSTR-9 and GSTR-9C by making

ITR’S TRIBUNAL TAX REPORTS

 ONLINE EDITION

(Issue dated : 2-12-2019)

SUBJECT INDEX TO CASES REPORTED

Business expenditure --Setting up and commencement of business--Expenditure incurred relating to setting up of inland clearance depot, container freight station and warehousing

ICAI submits Pre-Budget Memoranda-2020

Click here to download the Memoranda

 

 

Win Rs.1000/- pm by commenting on this post read more at : https://canewsbeta.blogspot.com/2019/10/canewsbeta-top-commentator-monthly.html?m=1

CBDT notifies 14th ​Amendment of Income-tax Rules, 1962

Click here to download

 

Win Rs.1000/- pm by commenting on this post read more at : https://canewsbeta.blogspot.com/2019/10/canewsbeta-top-commentator-monthly.html?m=1 

Exchange Rates Notification No.88/2019-Customs (NT) Dated 05.12.2019

Click here to download the notification

 

Win Rs.1000/- pm by commenting on this post read more at : https://canewsbeta.blogspot.com/2019/10/canewsbeta-top-commentator-monthly.html?m=1 

Winner of Top commentator contest for the month of November 2019

The winner of Monthly Top commentator Award for the month of November is Nirav with 110 comments on various post. Congratulations! Nirav you are eligible for winning Rs.1000/- from

PMC Bank case: One more auditor held

A third auditor was arrested by the Economic Offences Wing (EOW) of the Mumbai Police in the Rs 4,355-crore Punjab and Maharashtra Co-operative (PMC) Bank fraud case on Tuesday. This is the eighth arrest in the case. Investigators suspect that the auditors have received Rs 40-60 lakh from the

GST panel to raise 5% slab to 6%

The Goods and Services Tax (GST) panel is mulling various methods to boost revenue collections, among which one suggestion is to raise the 5 percent tax slab to 6 percent, as per a Business Standard report.

The slab-restructuring is expected to bring in additional

An examiner was found evaluating standard sample answer books of CA EXAMS while travelling in a bus/tram

An Important Announcement for General Public

It has come to the notice of the Institute that an examiner was evaluating standard sample answer books while travelling in a bus/tram. The Institute has instructed all its examiners to not to evaluate and carry answer books while travellin

How Indian students can become US CPAs

Chartered Accountancy(CA) is one of the most sought-after professions. Though it is considered India's highest accounting degree, it is not recognized in all countries.

The Certified Public Accountant (CPA) course, which is the highes

Deloitte Touche Tohmatsu Limited charging the Government Re 1 as disinvestment advisory for Bharat Petroleum Corporation Ltd (BPCL

Deloitte Touche Tohmatsu Limited charging the Government Re 1 as disinvestment advisory for Bharat Petroleum Corporation Ltd (BPCL) has not gone down well with the investment banking community.

"Deloitte charging Re 1 is not a healthy competition. Regulator should not allow such low bids," said an investment banker on condition of anonymity. Investment bankers said that the regulator must put a minimum cap on the advisory fee.

Deloitte is helping the government sell its stake in BPCL. According to media reports, SBI Caps was the second-lowest bidder, quoting Rs 15-17 crore.

Deloitte declined to comment on the story. 

This is not the first time such aggressive bidding has been done by an investment bank. Deloitte had quoted a similar price for its services in the divestment process of Container Corporation of India (CONCOR).

JM Financial had charged Re 1 for ONGC's purchase of the government's 51.11 percent stake Hindustan Petroleum Corporation (HPCL).

The trend of financial advisers quoting low prices began with the listing of Coal India on the stock exchanges roughly a decade ago. The advisers were paid only Rs 1,500.

Why Re 1 fee?

Bankers told Moneycontrol that the Re 1 pricing has nothing to do with any tangible measure, but has been determined by 'other factors.'

"Such low bids of Re 1 is largely done for goodwill and since it was a government deal it adds value to company's profile," another investment banker said.

Generally, consultation fees varies from sector to sector and company to company.

However, investment bankers said the only tangible measure for fixing fees for large deals is decided based on the expected time spent on the deal, calculated on hourly basis.

"Fee quotations/pricing for contracts of such large nature by

Income Tax changes in the month of Nov 2019

1. Tax deducted u/s 194M (TDS by Individual/HUF) to be deposited within 30 days from the end of the month in which tax deducted [1]
a. Sec 194M:

Clarification in respect of option exercised under section 115BBA of the Income-tax Act, 1961

https://www.incometaxindia.gov.in/communications/circular/circular_29_2019.pdf

GST: Here’s what to do if your e-Way bill generation is blocked for tax defaults

The government has introduced an important change around the e-way bill generation with an aim to crack down on GST non-filers and evaders. With effect from December 2, 2019, the blocking and unblocking of the e-way bill generation facility has been implemented on the e-way bill portal. E-way bill generation has been barred for taxpayers who haven’t filed their returns for the previous two consecutive months. 

What is the intention of blocking e-way bill generation for taxpayers? 
As per GSTN data, around 20.75 lakh GSTINs have not filed their GSTR-3B for September and October months. Also, out of these 20.75 lakh GSTINs, around 3.47 lakh GSTINs (16.7%) had transactions for September and October 2019 in the e-way bill system. Considering the rise in the number of tax defaulters, their ability to generate e-way bill had to be blocked. The tax department is of the view that non-filing of returns has been the primary reason for the decline in the GST revenue collection. 

How will blocking of e-way bill generation work? 
Every taxpayer who is registered under GST must file GSTR-3B, on a monthly basis. GSTR-3B has details of sales and purchases made by a business and the final tax payable after claiming input credit. 

As per the new rule, when a taxpayer fails to file his or her GST returns (GSTR-3B) for two continuous months, he or she will get blocked from generating an e-way bill. A GSTIN which is blocked cannot be used for generating an e-way bill either as a consignor or consignee. 

For example, if a taxpayer has not filed his GSTR-3B return for September and

MCA deactivates 19.40 lakh Director Identification Numbers

Non-filing of Know Your Client (KYC) mainly led to deactivation of DINs

The Ministry of Corporate Affairs (MCA) deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to non-filing of Know Your Client (KYC), as on 28 November 2019. This was stated by Anurag Singh

Belgian auditor BDO found that PNB issued 1,561 LoUs, valued at Rs 28,000 crore, to the Nirav Modi group.

Punjab National Bank (PNB) 'fraudulently issued' Letters of Undertaking (LoUs) worth Rs 25,000 crore to the Nirav Modi group, The Indian Express reports.

Belgian auditor BDO found that PNB issued 1,561 LoUs, valued at Rs 28,000 crore, to the Nirav Modi group. Of this,

MCA launches Independent Director’s Databank & proficiency test, registration deadline March 2020

The Ministry of Corporate Affairs (MCA), with the objective of strengthening the institution of Independent Directors under the Companies Act,  launched today the Independent Director’s Databank in accordance with the provisions of the

Tata motors launches its first premium hatchback Altroz

https://youtu.be/EwO1QH5kq3k

Bill for corporate tax reduction passed Lok Sabha

Taxation Laws (Amendment) Bill, 2019, will amend the Income Tax Act 1961 and the Finance (No 2) Act 2019. It replace the Ordinance which was Promulgated by the President in September.

In the biggest reduction in 28 years, the government

GST revenue crosses Rs 1 lakh crore mark in November

This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark

Reliance Jio to raise tariffs by 40% from December 6

NEW DELHI: Reliance Jio will raise tariffs by up to 40% from December 6 through its all in one (AIO) plans where the Mukesh Ambani owned company said that it will give 300% more benefits. The carrier added that it will take all necessary

Vodafone Idea Announces New Prepaid Plans, Raises tariff From December 3. Here are plans

Vodafone Idea Announces New Prepaid Plans, To Be Available From December 3

Vodafone Idea on Sunday announced new prepaid tariffs for its prepaid products and services.

Vodafone Idea had stated that it would increase its tariff from December 1. The announcement has come on the backdrop of its highest quarterly loss of Rs 50,922 crore amid an adverse Supreme Court ruling on adjusted gross reve nue

Vacancy for CA semi-qualifieds in HDFC Bank

Job Description

• Carrying out audits of mid-size branches / units independently.

• Sampling of data extracted from core system (as part of pre-audit preparation) to cull-out exception.

GST e-invoicing must for businesses from April 1, 2020

From April 1 next year, electronic invoicing (e-invoicing) will be mandatory for businesses with a turnover of Rs 100 crore, the government said on Thursday.

This will help curb goods and services tax (GST) evasion and make compliance easier.

The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and

Payment of Membership/COP Fees for the year 2019-20 is further extended:ICAI

Important Announcement

It has been decided to extend the last date for payment of Membership /COP fee for the year 2019-20 up to 31st December 2019. It has been further decided to waive off condonation fee on delay of filing of application forms related to Members, Firms and Students, if respective transaction date in application forms falls between 1st April 2019 to 31st December 2019. Date: 29th November, 2019

M&C-MSS Section ICAI, NOIDA

YES Bank board okays nearly $2 billion fund-raising plan

YES Bank board okays nearly $2 billion fund-raising plan

Read more at:
//economictimes.indiatimes.com/articleshow/72299864.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

How to Claim GST Refund, Filing GSTR-1 & GSTR-3B

Good and Services Tax (GST), indirect tax in India for the entire nation came into force on 1st July 2017. GST refund is a settlement of any amount that is due to the taxpayers from the administration on export of goods or services, excess reimbursement of taxes or other applicable cases. Complete guide to filing

The government has compulsorily retired another 21 "corrupt" tax officers

Sources said the action was in line with Prime Minister Narendra Modi's address to the nation from the ramparts of the Red Fort when he had said some black sheep in the tax administration may have misused their powers and harassed taxpayers, either by targeting honest assessees or taking excessive action for minor or procedural violations.

"We have recently taken the bold step of compulsorily retiring a significant number of tax officials, and

Taxpayers worried over GST red-flag reports

Many GST taxpayers, especially small firms, are a worried lot these days with authorities sending system-generated red flags in their online return forms. A Delhi-based GST practitioner said that taxpayers are given very little time to respond to the red flags,

CA books Europe tour online, duped of Rs 2 lakh

DINDOSHI POLICE is on the lookout for unknown fraudsters for allegedly duping a 27-year-old chartered accountant (CA) of Rs 2.02 lakh on the pretext of

RBI mulls new corporate governance rules for banks

Speaking to an audience comprising of all the top bankers, he said the new guidelines will be put in public domain and the RBI will be seeking comments before finalising any rules.

Citing the case of under-reporting of NPAs which used to go unrecognised earlier and is made compulsory now, and the benefits it gets, the DG urged banks to

Income Tax Department creates exchange of information portal Read more at: https://www.caclubindia.com/news/income-tax-department-creates-exchange-of-information-portal--17842.asp

Income Tax Department creates Exchange of Information Portal for dissemination of information to all stakeholders India is committed to exchange financial account information automatically from 2017 under the Common Reporting Standard (CRS) on Automatic

ICSI releases peer review third edition

https://www.icsi.edu/media/webmodules/Peer_Review_Manual_Final_051119.pdf

Registration open for Certificate Course on Forensic Audit

  https://www.icsi.edu/media/webmodules/Forensic_Audit_Flyer.pdf

CII's Annual Roadshow on Competition Law and Practice on Saturday, 30 November 2019 in Mumbai/media/portals/0/new.gif

https://www.icsi.edu/media/webmodules/Competition_Law_EDM.pdf

ICAI releases exposure draft for comments on Code of Ethics

https://resource.cdn.icai.org/57530esb46665.pdf

ICAI chain of events on CA examination process post recent student protests

1. Constitution of independent High Level Committee on exam processes 2. First meeting held on 7.10.2019 3. Announcement inviting suggestions hosted on 25.10.2019

Developer of land is not a seller, liable to pay GST, rules AAR

Selling land does not attract the Goods and Services Tax, but if some one develops and sells a parcel, then it comes under the GST ambit, according to the Authority of Advance Ruling (AAR) in Karnataka.

Bengaluru-based Maarq Spaces Private Ltd had entered into a Joint Development Agreement (JDA) with landowners for the development of a parcel of land into a residential layout along with specifications and amenities. The

What is Air Quality Index? How it is affecting you

 Hazardous is 301 to 500. The entire population is more likely to experience serious health effects and should avoid all

ICAI announces Scholarship to Students of CA Course for the Year 2019-20

The Board of Trustees of the Chartered Accountant Students Benevolent Fund (CASBF) has decided to provide financial assistance/scholarship for amount of Rs. 1500/- PM, to students who are registered in CA Intermediate /IPCC course and serving articled training as well as amoun

Sony in talks to acquire stake in Mukesh Ambani's Network18

With the aim to tap the thriving demand for content in India, Sony presently is carrying out due diligence on Network18 before it comes up with any likely offer

Ambani through a network of subsidiaries owns a controlling stake in

RBI supersedes DHFL board

Mumbai: The Reserve Bank of India (RBI) on Wednesday superseded the board of Dewan Housing Finance Corp Ltd (DHFL) and appointed an administrator in its place, a step towards referring the company to the National Company Law Tribunal (NCLT).

New Chief Justice of India Sharad Arvind Bobde swearing in ceremony. Takes blessing of his mother infront of President

Delhi HC upholds ICAI's decision not to entertain complaint filed against Auditor after 7 years of Signing Audit Report

The Delhi High Court has upheld the Institute of Chartered Accountants of India ( ICAI’s) decision to not to entertain the complaint filed against the Auditor after seven years of signing Audit Report.
The petitioner has filed the present petition impugning an order dated 1st February, 2019 passed by

ICSI announces final round of quiz winner to be awarded Rs.50000/-

https://www.icsi.edu/media/webmodules/Flyer%20for%20Final%20Round.jpg

Reliance Jio Likely to Revise Tariff Rates Soon

Mukesh Ambani led telecom operator Reliance Jio released an official statement saying: "As per media reports, we understand that TRAI (Telecom Regulatory Authority of India) is likely to initiate a consultation process for revision of telecom tariffs. Like other operators, we will also work with the Government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including an appropriate increase in tariffs in next few weeks in a

Government to offer CA coaching to students

It will be offered soon after their plus two public examinations: Minister

Minister for School Education, Youth Welfare and Sports Development K.A. Sengottaiyan has said the government has proposed to unveil an ambitious scheme to offer Chartered Accountant (CA) coaching for students soon after their plus two public examinations.
Addressing after launching a special literacy programme by the Directorate of Non-Formal and Adult

Yes bank's statutory auditor BSR & Co now wants a fresh audit,

Expressing its displeasure over the way the special audit of a whistleblower's complaints against YES Bank and its founder Rana Kapoor was conducted by Vadodara-based JLN US & Co, the bank's statutory auditor BSR & Co now wants a fresh audit, according to a report in Mint.

Moneycontrol could not independently verify the report.

JLN in its report said it had limited access to documents

Bharti Airtel to increase tariffs from December, 2019

https://m.economictimes.com/defaultinterstitial.cms

Vodafone Idea to increase tariffs from December 1

Beleaguered wireless operator Vodafone Idea said it will “suitably” increase the prices of its tariffs from December 1 2019, pointing to the financial stress in telecom and stressing that mobile data charges in India are by far the cheapest

Airtel withdraws bid for RCom assets sale, cites 'unfair' conduct by CoC

Telecom operator Bharti Airtel has withdrawn its bid to purchase assets of Reliance Communications (RCom) after terming the move of committee of creditors to extend the bid submission deadline on the request of Reliance Jio as

Change of Venue in Ahmedabad City (Gujarat), in respect of November 2019 Exams ---------------------

 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA [Set up by an Act of Parliament]
Important Announcement
November 17th, 2019
Change of Venue in  THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA [Set up by an Act of Parliament]
Important Announcement
November 17th, 2019
Change of Venue in Ahmedabad City (Gujarat), in respect of November 2019 Exam

Salaries are not subject to GST, clarifies CBIC

Salaries are not subject to Goods and Services Tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) clarified on Friday, adding that no GST has been demanded on salaries paid to chief executive officers or employees. Reports that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax authorities, it said in a statement. The CBIC said that GST law position clearly states under Section 7(2) read with schedule three of the Central GST Act 2017 that salaried services by an employee to an employer will be treated neither as a supply of goods

Here is the step wise fall in Mumbai real estate prices

Here is the step wise fall in Mumbai real estate prices

• First overall development of around 5 to 6 smart cities in UP itself and other native states in another year or two. When we say smart cities all equipped Mumbai Like medical transportation connectivity

Anil Ambani resigns as director of Reliance Communications

Anil Ambani has submitted his resignation as director of Reliance Communications, which remains under Corporate Insolvency Resolution Process (CIRP).

Four other directors, including Chhaya Virani, Ryna Karani, Manjari Kacker and

Vodafone-Idea latest developments as on 16/11/19

Vodafone-Idea latest developments as on 16/11/19:

Date	Development	Source
16/11/19	Vodafone Idea’s auditors may take call on writing off its assets soon	https://www.google.com/amp/s/m.economictimes.com/industry/telecom/telecom-news/vodafone-ideas-auditors-may-take-call-on-writing-off-its-assets-soon/amp_articleshow/72079839.cms

GSTR-9, GSTR-9C gets simplified further, submission dates extended

Govt extends due dates of filing GST for FY 2017-18 to 31st December

NEW DELHI: The Government has to extend the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for

Birlas may let Voda Idea go insolvent if government doesn't help

MUMBAI: Aditya Birla Group will not infuse any fresh equity into VodafoneIdea Ltd, its telecom joint venture with Vodafone Group of UK, and let it opt for insolvency if the government does not provide substantial relief, including on the telco's adjusted gross revenue (AGR)-based dues, which could be over 39,000 crore, senior executives aware of the matter said. 

ICAI notifies revised dates of postponed CA EXAMS NOVEMBER 2019

https://www.icai.org/new_post.html?post_id=16105&c_id=219

Dheeraj Khandelwal tweets on revised schedule of postponed CA exams

https://canewsbeta.blogspot.com/2019/11/icai-notifies-revised-dates-of.html?m=1

Change of Venue in Lucknow City (Uttar Pradesh), in respect of November 2019 Exams

https://resource.cdn.icai.org/57470exam46567.pdf

Methodology for computing provisional GST credit as per 11th Nov circular

Methodology for computation of provisional credit under rule 36 (4)

(Circular no. 123/42/2019-GST dated November 11, 2019)

The Government has recently introduced an amendment in the GST law in relation to availment of provisional Input Tax Credit ("ITC"), notified vide Notification No. 49/2019-CT dated October 9, 2019. The relevant extract of

PMO issues strict guidelines on corrupt bureaucrats

Highlights

- The PMO's decgision comes amid a nationwide debate over the fixing accountability of government officers as complaints

Change of Venue in Beawar City (Rajasthan), in respect of November 2019 Exams

https://resource.cdn.icai.org/57462exam46546.pdf

Bombay HC orders income tax refund of Rs 788 cr to Vodafone within three weeks

https://www.google.co.in/amp/s/m.hindustantimes.com/india-news/bombay-hc-orders-income-tax-refund-rs-788-cr-to-vodafone-within-three-weeks/story-hBrbRy8g6qs7eFu9gibhtM_amp.html

Gujarat distributors stop stocking goods of various big fmcg companies

Market view on week ahead 11th to 15th November 2019

If you think the economy needs a serious dose of medicine to be up and running, the government just provided one -- a Rs 25,000 crore funding window to help unclog stalled projects in the real estate sector.

ICAI clarifies on further schedule of CA examinations from 13th November 2019 onwards

https://www.icai.org/new_post.html?post_id=16099&c_id=219

ICAI POSTPONES Intermediate/IPCC exams to be held on 11th November 2019

https://www.icai.org/new_post.html?post_id=16099&c_id=219