NEW GST RETURNS SUGAM, SAHAJ LIVE ON GST PORTAL

GST UPDATE|CAN WE TAKE GST INPUT TAX CREDIT OF INVOICES NOT COMING IN GSTR2A|GST ITC RULES

GOOD NEWS|NO NEED TO GIVE SAC IN GST INVOICE OR GST RETURN|HSN CODE IS REQUIRED IN GST RETURN

Homebuyers to pay 12% GST on balance due if completion certificate issued by 31 March: CBIC

Homebuyers will have to pay 12 percent GST on balance amount due to the builder if the housing project has been granted completion certificate by 31 March, 2019, the CBIC has said.
Builders who have received a completion certificate for an ongoing project before 1 April, 2019, will

Registration Of The GST, ESI, EPF Under Companies (Incorporation) Third Amendment Rules, 2019

According to the notification the rules are applicable from the date of its publication in official gazette i.e. 29th March, 2019. MCA is continuously making registration procedure simple, fast & centralized. Currently, the form SPICE is required to be filed for incorporation of a company with

Tax Audit Report Changes,GAAR & GST DETAILS नहीं देनी,Clause 30C & 44 Form 3cd, Form 3cd Amendment

GST Concepts & Status as on 1st May 2019 by CBIC

Click here to download

NEW AMENDMENTS IN GSTR 3B AS 14/05/2019

President Arif Alvi lauds CA professionals for their technical expertise

ISLAMABAD, Pakistan: President Dr Arif Alvi has commended Chartered Accountant (CA) professionals for the global recognition and respect they have acquired because of their technical expertise, adherence to ethics and integrity.
While talking to a delegation of the Institute of Chartered Accountants of Pakistan (ICAP) who called on him at the Aiwan-e-Sadr in Islamabad on Tuesday, the president appreciated the contributions of ICAP in establishing and regulating the accountancy and auditing professions in addition to imparting

1 in 3 British Accountants Feel Stressed Every Day

The accountancy profession is in the grip of a mental health crisis, with a shocking new study finding that a third (31%) of chartered accountants feel stressed on a daily basis. The research, conducted by CABA, the chartered accountants’ well being charity, found that as few as 2% of respondents claim

expression of interest (eoi) from reputed firms of chartered accountants based in/having office in mumbai for appointment as concurrent auditor

• Private Company, Mumbai, Maharashtra (11 May 2019) expression of interest (eoi) from reputed firms of chartered accountants based in/having office in mumbai for appointment as concurrent auditor for auditing the investment transactions and related systems of the company
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Market Update 14/5/2019

*Economic Times*
*Business Standard*

Ø  Automated GST refund for exporters by next month
Ø  Arcelor paying Rs 39,500 crore for Essar Steel and not Rs 42,000 cr: SCB counsel Kapil Sibal
Ø  Tata Power, Mahanagar Gas ink pact to offer various services

ATTENTION TAXPAYERS|MAINTAIN THESE RECORDS AND BOOKS OF ACCOUNT IN GST|SECTION 35 OF GST ACT

Commerce Ministry seeks cut in compliant burden on firms

In an attempt to bring down the compliance burden on companies, especially the small and medium enterprises (SMEs), the commerce ministry has urged the ministry of corporate affairs (MCA) to explore avenues where firms can opt for self-certifying their returns as well as clubbing all the returns

Delta Corp shares tank 13% after two units booked in GST evasion case

Shares of Delta Corp slumped over 13 percent after CNBC-TV18 reported that two Delta Group units were booked for GST evasion. Directorate General of Good and Services Tax (GST) Intelligence has booked two Goa-based Delta group companies -- M/S Delta Corp and Highstreet Cruises &

MCA-21 is on real-time basis, ghost cos get ousted via KYC drive: Government

NEW DELHI: As the government sets out to counter views of its agency raising eligibility of MCA-21 data as one of the tools to arrive at GDP numbers, the Corporate Affairs Ministry has dismissed any bogus data within the database saying MCA-21 is on real time basis and if a company after entering the database is non-functional, it gets removed at the time of KYC drive.
"MCA 21 is on real time basis. Shell, bogus companies are being eradicated… If a company is

GOOD NEWS|CAN GST RETURN BE FILED WITHOUT PAYMENT OF TAX|GSTR3B FILING WITHOUT TAX PAYMENT

Degrees of 521 Pakistan Airlines employees found to be fake auditors in dillema

The Pakistan Minister for the Aviation Division, Ghulam Sarwar Khan, has told the National Assembly that 609 degrees of employees of Pakistan International Airlines (PIA) have been found as fake and/or tampered with over the past 5 years.
In a written reply to a question by the Pakistan Muslim League-Nawaz (PML-N) lawmaker Tahira Aurangzeb, the Minister for Aviation Division told the House that out of 521 PIA employees having

Employers will now have to download full Form16 from TRACES portal only

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This year, the Central Board of Direct Taxes (CBDT) has made a couple of changes to the way we file our taxes. After revising the information to be provided in Part-B of Form-16, CBDT has issued another notification where it has made it mandatory for employers to download and issue Part-B of Form 16 to employees only from the TRACES portal. This notification was issued on May 6, 2019.
TRACES refers to TDS Reconciliation Analysis and Correction Enabling System. It enables the

Taxability Of Bogus Share Capital U/s 68: Impact Of Supreme Court Judgment In NRA Iron & Steel 412 ITR 161

Advocate Dharan V. Gandhi has conducted a thorough analysis of the recent judgement of the Supreme Court in PCIT vs. NRA Iron & Steel 412 ITR 161 on the taxability of bogus share capital and premium u/s 68 of the Income-tax Act. He has explained the nuances of

Big Bazaar scam: charges customers more than product MRP

CA Hauled Up By ICAI For Sexual Harassment

Lalit Agrawal vs. ICAI (Delhi High Court)

The ICAI has jurisdiction to examine any conduct (including alleged sexual harassment) by a CA that would tend to bring disrepute to the profession or the Institute. The fact that the matter is pending trial before the Criminal Court is not relevant because the standards of proof

Tata Sky Broadband Now Available in 20 Cities With Plans Starting Rs 999 For Unlimited Usage

Tata Sky, a brand that you would perhaps better remember for the direct to home (DTH) connections, is making its presence felt in the home broadband space as well. Tata Sky Broadband has now added three new cities to the list of cities it is now offering services in—Lucknow, Navi Mumbai and Surat. The newest additions take the total number of cities to 20. This comes ahead of the expected Jio

GST BILL LIMIT|WHAT IS THE LIMIT FOR BILLING IN CASH UNDER GST|GST BILL LIMIT TO UNREGISTERED PERSON

How to get the Windows 10 May 2019 Update final release right now?

`Windows 10’s May 2019 Update version 1903 will be available toward the end of May. But what if you don’t want to wait that long and are eager to try out the new features sooner? You’ll be happy to know that there is a way to install the May 2019 update in April.

In this article, we will show you how to install the May 2019 Update using the Windows Insider Program before the official release date.

How to install the May 2019 Update using Windows Insider Program?

Reliance Industries' subsidiary acquires iconic British toy retailer Hamleys

https://www.moneycontrol.com/news/business/companies/reliance-industries-subsidiary-acquires-iconic-british-toy-retailer-hamleys-3955161.html

Mercedes-Benz EQC (2019): Test Drive in L.A.

The indirect tax department will soon be able to use electronic surveillance to ascertain the big cases of theft of Goods and Services Tax (GST).

Notice Inviting Technical And Financial Bids From Empanelled Ca / Cma Firms Of E / R For Conducting Internal Audit Of Nscbi Airport

• Airports Authority Of India, Delhi (04 May 2019) Notice Inviting Technical And Financial Bids From Empanelled Ca / Cma Firms Of E / R For Conducting Internal Audit Of Nscbi Airport , Airports Authority Of India, Kolkata Airport, Kolkatta For The Financial Year 2018-19
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DAILY MARKET NEWS 9/5/19

*Economic Times*

*Business Standard*

Ø  US to raise duty on $200 bln worth Of Chinese imports
Ø  RBI allows banks to treat IL&FS expsoure as NPAs
Ø  India to add 11.5L jobs in first half of FY20: Report

How to Manage the New GST Audit in India

The last date for filing GST returns and GST audit report for fiscal year 2017-18 is June 30, 2019. 
The Goods and Services tax (GST) system requires taxpayers to self-assess their tax liability and pay their tax without any intervention by the tax authorities. The law provides for a robust audit mechanism to measure and ensure compliance by the taxable person.
The GST audit checks the accuracy of information furnished, taxes discharged, refund claimed and input tax credit availed by the individual taxpayer.
For fiscal year 2017-18, India’s GST council in December 2018 extended the last date for filing GST

Builder cannot charge hire GST for preferential location, car parking, common areas and facilities

AAR West Bengal has passed Ruling in Bengal Peerless Housing Development Co. dt 02 May 2019 that service provided for construction of a dwelling unit bundled with additional facilities is a

Election Commission of Pakistan issues accounts statements of 81 parties

ISLAMABAD: The Election Commission of Pakistan (ECP) on Tuesday issued statements of accounts for the financial year 2017-18 submitted by 81 registered political parties with the commission.
According to the ECP, these political parties have filed their statements of accounts in accordance

Chaos in FBR as govt aims for budget on May 22

ISLAMABAD: The government is aiming to announce the federal budget on May 22, according to a communication received at the tax bureaucracy last week, as confusion reigns over the status of the current and incoming chiefs of the Federal Board of Revenue (FBR).
Meanwhile, the summary to appoint Shabbar Zaidi, a Karachi-based chartered accountant, as new

RFP for Internal Audit of Airports Authority Of India by CA/CMA

• Airports Authority Of India, Guwahati (06 May 2019) Internal Audit issued by Airports Authority of India which is open for CAs as well as CMAs.
  Address :
  

Tender From Practicing Chartered Accountant Firms Empanelled With Bank For Conducting Concurrent Audit/ Revenue Audit Of The Bank''s Branches

• United Bank Of India, Kolkata (23 Apr 2019) Tender From Practicing Chartered Accountant Firms Empanelled With Bank For Conducting Concurrent Audit/ Revenue Audit Of The Bank''s Branches.
  Address :
  

Tender For Appointment Of Internal Auditors For Pdil

• Projects And Development India Limited, Uttar Pradesh (01 May 2019) Tender For Appointment Of Internal Auditors For Pdil
  Address :
  

All about RCM under GST, RCM liability under GST,

State Bank of India shortlists Deloitte as Interim Resolution Professional to manage RCom

Mumbai: State Bank of India (SBI), the lead banker in Reliance Communications’ asset monetisation plan, has shortlisted consultancy firm Deloitte as the interim resolution professional (IRP) to manage the bankrupt telecom operator, despite opposition from some of other lenders, people aware of the development said. Deloitte has been picked from a list of 30 IRPs, which included Duff & Phelps, RBSA Advisors and BDO, among others, they told ET.
SBI’s choice may have surprised other members of the committee of creditors (CoC) since Deloitte’s

MAJOR CHANGES IN GST FROM MAY 2019|BIG CHANGES IN GST FROM MAY 2019 IN GST |NEW RULES IN GST

75,000 CA aspirants and counting: meet the Chennai teacher whose lessons are not just on accounting, but life as well

MP Vijay Kumar, who is also the CFO of Sify Technologies, runs a tight ship at his classes at Prime Academy in Chennai. And his students love him for it. Read on to get your dose of inspiration this Monday morning.

M P Vijay Kumar

Near the famous Mylapore tank, in Chennai, a place where trade, faith, and education meld together,

RFP For Internal Audit For The Financial Year 2019 To 20 To Ongc Mangalore Petrochemicals Limited

• May, 09 2019
• Ongc Mangalore Petrochemicals Limited, Karnataka (05 Apr 2019) Open Tender For Hiring Of An External Agency To Provide Support Services For Internal Audit For The Financial Year 2019 To 20 To Ompl
  Address :
  

Pakistan appoints new chief of tax collection body

Pakistan on Monday appointed chartered accountant Syed Shabbar Zaidi the new chief of the Federal Board of Revenue after its top economic policy leadership was cleared out during bailout talks with the International Monetary Fund.

The previous head of the agency, Jahanzeb Khan, was sacked on Friday along with the head of Pakistan's central bank, reflecting the turmoil in Prime Minister Imran Khan's government as it

ICAI Reveals 5,759 Chartered Accountants Received Placements With Top Salaries In Latest Campus Drive

The institute said that the students got placed with an average salary of 7.4 to 8.5 lakh.
The President of the ICAI, Prafulla P Chahjed said, “This placement programme has attracted the highest ever participation from recruiters offering highest number of positions since the inception of

Full GST Accounting Work in Tally | GSTR3B Return by Tally ERP9 | GSTR1 Return by Tally|

Infibeam auditor denies allegations after company fires it for "sharing price-sensitive info"

E-commerce company Infibeam Avenues on Sunday said it has terminated services of chartered accountancy firm S.R.B.C & Co. LLP as one of the joint statutory auditors of the company on grounds of sharing of unpublished "price-sensitive information".

In a filing to the BSE, Infibeam said Shah & Taparia shall continue to be the statutory auditor of the company.

Bar Council of Delhi directs Big Four not to offer legal services

In a double-whammy of sorts for the Big Four audit-cum-consultancy firms – Deloitte, EY, KPMG and PwC – the Bar Council of Delhi on Friday directed the four firms to refrain from providing legal services to clients till further notice.

The move comes after a complaint was filed by the Society of Indian Law Firms (SILF), representing around 100 Indian law firms. SILF said in its complaint that the Big Four were actually accounting firms, but are engaged in "doing law

Income Tax officer abducted in Pak

A senior Income Tax officer and three others were allegedly abducted by masked gunmen dressed in security forces' uniform in northwest Pakistan.
Income Tax Assistant Commissioner Riaz Khan, who had come to his village Miani in Tank District

Indian Auditors: Scapegoat or Calculated Risk taker?

Yogesh Sharma, partner and head of assurance, MSKA & Associates (audit arm of the consultancy major BDO), comes out in full defence of the auditor community. While Sharma acknowledges that the audit quality could have been better and robust in some cases, he also argues against blaming the accounting profession for every mistake on financial statements.

In the last few years, audit profession has been condemned by industry stalwarts after a series of accounting frauds started unearthing. The latest being the

ITR-2 AVAILABLE ON INCOME TAX PORTAL FOR AY 2019-20

Some papers of CA examinations postponed upto 13th June 2019

Click here to read the notification

Auditors will now have to disclose the procedures used to arrive at conclusions

After a few stops and starts, a new feature of audit reports will kick in from the current fiscal. Auditors will now have to spell out ‘Key Audit Matters’ or KAM in their report to shareholders whichspecific procedures used in the audit of companies and explain how they arrived at the

Reasons of figures not matching in GSTR9 VS GSTR1 & GSTR3B and its suggestive treatment with live examples

Vacancy for Senior Manager Financial Planning & Analysis in Vodafone

Click here to apply

US Income Tax Payers Can Now Get Refunds in Bitcoin

Income tax payers in the U.S. now have the option to receive their federal and state refunds in bitcoin.
Blockchain payments processor Bitpay announced the news on Tuesday, saying that the firm has

GST Annual Return Checklist - How to file GSTR 9

Companies need to recognize the benefits of whistleblowing

Whistleblowing is central to the plurality of checks and balances which allow businesses to thrive. In its report, How whistleblowing helps companies, ICAEW’s Corporate Governance Faculty elaborates on the importance of effective whistleblowing and provides essential guidance for boards on how to create environments that encourage it.
Whistleblowing can be of enormous value to companies, but still many organisations do not promote

Dubai-based Pakistani wins Chartered Accountant Woman of the Year award

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Asma receiving CA Woman of the Year 2019 award from Pakistan President Dr Arif Alvi in Islamabad Image Credit: Supplied

Dubai: Dubai-based Pakistani expat, Asma Jan Mohammad, has become the first overseas recipient of the Chartered Accountant Woman of the Year 2019 award.
Pakistan President Dr Arif Alvi conferred the award upon Asma in Islamabad on April 11 at a

Now Pakistan Govt proposes to bring in tax amnesty scheme

The PTI-led government has convened meeting of important selected stakeholders including top businessmen, chartered accountants and consultants on Tuesday (today) to decide the fate of proposed tax amnesty scheme.

The government is also considering slapping different range of rate for proposed tax amnesty scheme with maximum 15 percent till June 30 and afterwards doubling and tripling this rate up to June 2020. The stakeholders in the range of 10 to 15 have been invited for consultation in order to hold

Expression Of Interest For Engagement Of Chartered Accountant Firms For Internal Audit Of ICAI

• Institute Of Chartered Accountants Of India,New Delhi (20 Apr 2019) Expression Of Interest For Engagement Of Chartered Accountant Firms For Internal Audit Of Various Units I.E. Branches And Decentralized Offices Of The Institute Of Chartered Accountants Of India (Icai).
  Address :
  

Tender For Providing Services W.R.T. Goods And Service Tax And Income Tax of BSNL

Tender For Providing Services W.R.T. Goods And Service Tax And Income Tax Matters On Retainership Basis From The Firm Of Chartered Accountants
Address :