Companies’ advance tax payments on income tax department radar
The income tax department is closely monitoring advance tax payments by scrutinising companies’ annual and quarterly balance sheets, as well…
Category: News
Finance Act, 2023 notified by Government of India
On March 31, 2023, the Ministry of Law & Justice, Government of India notified the Finance Act 2023. This notification…
SOP issued to check rise of bogus firms in GST registration
In a bid to prevent use of bogus documents for GST registration, Chief Commissioner of Central GST (CGST) Bhopal zone…
CA in Practice can be Director Simpliciter or Professional Director: ICAI
The Board of Discipline of the Institute of Chartered Accountants of India ( ICAI ) has recently held that a…
Demonetisation and its effect on Income tax Collection
No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has…
Delhi GST detect Rs 17 crore tax evasion by issue of fake invoice, arrests 2
GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of Rs 17 crore and arrested two…
1500 Aadhaar cards used illegally to generate bogus GST numbers
The state GST department has unearthed a scam with a new modus operandi where 1,500 Aadhaar cards were illegally used…
GST revenue of ₹1.50 lakh cr monthly to be new normal next fiscal: CBIC chief
GST collection in current fiscal year is likely to average around ₹1.45 lakh crore GST collection is expected to average around ₹1.50…
Adani Group calls off FPO, to return money to investors
The FPO call-off comes as share prices of the Adani group saw an unprecedented crash in the wake of the…
Transactions worth Rs 12,000 crore by insurers under taxman’s lens
Transactions of more than ₹12,000 crore are under the scanner of the income-tax department that is probing several commission agents…
GST Evasion of Rs 23,000 Cr by Gaming Companies Being Investigated
GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022 is being investigated by…
5, including CA, held in Rs 11-cr GST scam
Police officials claimed that the scam could involve misappropriation of GST funds of Rs 100 crore. Five people, including a…