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PNB Scam quantum can increase by Rs. 1300 more The Punjab National Bank has reported to the Stock Exchanges that the quantum of reported unauthorized transactions can increase by USD 204. 25 Mio (approx). The above price sensitive information was submitted in terms of regulation 30 of SEBI (LODR) Regulations …
ICAI bans delhi based CA for 6 months for certifying non-existent share premium amount of the company to the bank based on Board Resolution only The Institute of Chartered Accountants of India (ICAI) has removed the name of a Delhi based chartered accountant (CA) from the Register of …
Application for registration u/s 12A to be made electronically by charitable or religious trusts,. More information required in revised Form 10A-CBDT Notification CBDT vide Notification No. 10/2018 dated 19th February, 2018, has amended the Rule 17A which provides for submission of Form-No. 10A and required documents to be …
CBDT notifies Centralised Communication Scheme 2018 u/s 133C for calling information from any person for verification of information The Finance Act, 2014 (2 of 2014) had inserted section 133C w.e.f. 01-10-2014 which supplemented by Rule 12D provides that prescribed Income Tax Authority for verification of an information may …
Deduction for Penal excise was allowed u/s 37 as it was paid in discharging contractual obligation to indemnify department for violating terms of affidavit ABCAUS Case Law Citation: ABCAUS 2222 (2018) (02) HC The respondent assessee was engaged in the business of manufacturing and its sale. An intending …
Refund of IGST on Export– Invoice mis-match Cases. Alternative Mechanism with Officer Interface CBEC vide Circular No. 05/2018-Customs dated 23rd February, 2018, recognising that invoice mis-match has been the major reason why the IGST refunds have been held, has provided an alternative mechanism to give exporters an opportunity …
Settle mismatched IGST refunds focus on recoverable arrears. CBEC Chief admits that number of IGST refunds are stuck due to invoice/other mismatch The Chairman, Central Board of Excise and Customs in its latest communication dated 23rd February, 2018 inter alia acknowledged that number of IGST refunds are stuck due to invoice mismatch …
Reserve Bank introduces Ombudsman Scheme for Non-Banking Financial Companies As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India has launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the …
Non-transition utilization of disputed or blocked CENVAT credit-CBEC Directions Circular No. 33/07/2018-GST F. No. 267/67/2017-CX.8 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, dated the 23rd Feb., 2018 Directions under Section 168 of the CGST Act regarding non-transition of …
Supreme Court direct Govt to constitute Committee to suggest changes in Law to discipline and regulate Multi-National Accounting Firms like PWC. ABCAUS Case Law Citation: ABCAUS 2221 (2018) (02) SC The petitioner had approached the High Court of Karnataka seeking investigation against Multi-National Accounting Firms (MAFs) and Indian …
