News Updates Page 231

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Good Standing Certificate to Chartered Accountants made Online: ICAI Chief

The President of the Institute of Chartered Accountants of India (ICAI), CA Naveen D Gupta has informed that the Institute has enabled the facility of...

Supply of Ready Mix Concrete to SEZ Eligible for VAT Exemption: AAR [Read Order]

Foreign Language Course to Strengthen Overseas Placement: ICAI Chief

ICAI withdraws Guidance Note on Accounting for Real Estate Transactions

GST Revenue falls to 94,016 Crores in May

ICAI Chief enumerates Initiatives for Strengthening Member Services

The President of the Institute of Chartered Accountants of India ( ICAI ), CA Naveen D Gupta has enumerated the significant initiatives taken by ICAI to strengthen member services. With its sincere...

GST: E-Way Bill to be rolled out in Eight more States

The Ministry of finance has informed that the e-way bill will be implemented in eight States including Goa, Jammu & Kashmir, Mizoram, Odisha, Punjab, Tamil Nadu and West Bengal in the coming days....

Penalty u/s 271(1)(c) can’t be Imposed when Income is determined on Estimate Basis: ITAT [Read Order]

In ACIT vs. Eagle Theatres, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that penalty under Section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed when income is...

GST: Form for making Voluntary Payments available in Portal

The GST portal enables the Form GST DRC-03 for making voluntary payments by a taxpayer. The Form enables a taxpayer to make payment voluntarily before issue a notice under section 73 or 74 of the...

ICAI issues Accounting Standards for Local Bodies

The Institute of Chartered Accountants of India ( ICAI ) has issued Accounting Standards for Local Bodies. The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting...

GST: CBIC to observe Special Refund Fortnight from Tomorrow

In a major relief to taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) is going to organize a Special Refund Fortnight from 31st May 2018 to 14th June 2018 in which Center and State...

Activity of Publishing Journal supported by Sponsorship Fees can’t be treated as Business Activity of Trust: ITAT [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal, on 24th May held that the activity of publishing journal supported by sponsorship fees cannot be treated as business activity of the trust and hence...

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