Gujarat HC Upholds Provision prescribing Time limit for filing GST TRAN-1 [Read Judgment]
Read more at: http://www.taxscan.in/gujarat-hc-upholds-time-limit-gst-tran-1/29190/
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Delhi High Court has issued notice in a plea seeking a direction to the CBDT to extend the date of filing of ITR and Tax Audit Report for AY 2018-2019 by assessees who are required to file the same by Sept 30, 2018.
Finance ministry expects the GST collections to cross Rs 1 trillion in November and December on account of festive season demand and the anti-evasion measures initiated by the revenue department. GST) revenue rose to Rs 944.42 billion in Sept.
NFRA IS CHALLENGED IN THE COURT: ICAI, in Hon’ble High Court, after hearing the counsels the high court passed the order to stay any disciplinary action against any member, next date of hearing is 16.01.2019
Standard Operating Procedure by MCA for Grievance Redressal Mechanism: Complaint on MCA website through link http://www.mca.gov.in/mcafoportal/usercompaintDetails.do should be raised by the Stakholders/professionals.
Govt is mulling permitting 100% FDI in insurance broking to give a boost to the sector. The FDI policy, at present, allows 49% foreign investment in the insurance broking, insurance cos, third party administrators, surveyors and loss assessors
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# GST: GSTR-1 & Reconciliation of Input tax credit (GSTR 2A) - Last opportunity is till 31st OCT 2018. As per Annual Return in form GSTR-9, all tax payers are required to do reconciliation of ITC available as per GSTR-2A with reference to the ITC claimed under GSTR-3B.
# ITR & TAR: The Delhi High Court issues notice in a plea seeking a direction to the CBDT to extend the date of filing of Income Tax Return (ITR) and Tax Audit Report (TAR) for AY 2018-2019 by assessees who are required to file the same by 30th Sep 2018.
# ICAI issues Exposure Draft of Accounting Standard (AS) 38, Intangible Assets. Members Comments to be received by 2nd NOV 2018.
# GST: CBIC updates Concept & Status of GST as on 01st OCT 2018.
# IT: Prosecution proceeding shall continue u/s 276CC for failure to furnish ITR u/s 139 even if assessee had subsequently furnished the returns - Karan Luthra Vs ITO (2018 (10) TMI 135 - Delhi High Court).
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Breaking: Govt Constitutes NFRA w.e.f 1st October 2018 [Read Notifications]
Read more at: http://www.taxscan.in/breaking-govt-constitutes-nfra-w-e-f-1st-october-2018/29197/
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Gujarat HC Upholds Provision prescribing Time limit for filing GST TRAN-1 [Read Judgment]
Read more at: http://www.taxscan.in/gujarat-hc-upholds-time-limit-gst-tran-1/29190/
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👉🏻NFRA to look into IL&FS Auditor's role
(NFRA, the newly-constituted independent regulator for the auditing profession, will look into the role of auditors for the serious lapses at IL&FS and whether they colluded with the Board to hide information)
👇🏻 👇🏻 👇🏻
https://goo.gl/Kw2GnJ
👉🏻SC upholds Constitutional validity of compensation law under GST
(SC pheld the constitutional validity of Goods and Services Tax (Compensation to States) Act saying it was not beyond the legislative competence of the Parliament)
👇🏻 👇🏻 👇🏻
https://goo.gl/LV9nMj
👉🏻Bank of Maharashtra closes 51 branches to cut costs
(The IFSC Code and MICR codes of these branches have also been cancelled and all the existing savings, current and other bank accounts of the customers have been transferred to the branches with which they have been merged)
👇🏻 👇🏻 👇🏻
https://goo.gl/7nCZpx
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CBDT Notifies Tax Relief to Off-Market Acquisitions [Read Notification]
Read more at: http://www.taxscan.in/cbdt-tax-relief-off-market-acquisitions/29202/
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CBDT unveils final notification to provide Sec. 112A relief to off-market acquisitions
The Central Board of Direct Taxes has notified the final list of specified transactions of acquisition of equity shares where requirement of payment of STT to levy long-term capital gain tax under section 112A isn’t compulsory.
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Receipt for Relinquishment of ‘Right to Sue’ not Taxable: ITAT [Read Order]
Read more at: http://www.taxscan.in/receipt-relinquishment-right-taxable-itat/29207/
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Centre Cuts Fuel Prices by Rs. 2.50 per Litre: Asks States to reduce Excise Duty
Read more at: http://www.taxscan.in/centre-fuel-prices-2-50-litre-states-excise-duty/29216/
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Constitution of National Financial Reporting Authority
In exercise of the powers conferred by sub-section (1) of section 132 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 1st October, 2018 as the date of constitution of National Financial Reporting Authority
FOR DETAIL VISIT
http://www.egazette.nic.in/WriteReadData/2018/190358.pdf
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Cost Accountant held Guilty of Misconduct for holding Position of Managing Director of Company without Permission of ICWAI [Read Order]
Read more at: http://www.taxscan.in/cost-accountant-held-guilty-of-misconduct-for-holding-position-of-managing-director-of-company-without-permission-of-icwai/29218/
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Bombay HC asks GST Dept to Re-open TRAN-1 to Rectify Errors [Read Orders]
Read more at: http://www.taxscan.in/bombay-hc-gst-dept-re-open-tran-1-errors/29221/
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Trust providing IT Diploma Courses for Fee eligible for Income Tax Relief: ITAT [Read Order]
Read more at: http://www.taxscan.in/trust-providing-it-diploma-courses-for-fee-eligible-for-income-tax-relief-itat/29156/
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GST: Maharashtra introduces 31 Reforms to help Businesses
Read more at: http://www.taxscan.in/gst-maharashtra-31-reforms-businesses/29229/
