The National Financial Reporting Authority (NFRA) has issued revised Standards on Auditing (SA 600) for public consultation, aiming to strengthen group audits in response to deficiencies highlighted in several corporate fraud cases. The revised standard targets Public Interest Entities (PIEs) under Rule 3 of the NFRA …
The banking system, after enjoying a liquidity surplus for over two months, is expected to move into deficit this week due to advance tax payments and GST outflows, according to market experts. As of Thursday, the liquidity surplus stood at Rs 1.96 trillion, based on data …
In the 2023-24 fiscal year, the Directorate General of GST Intelligence (DGGI) detected a staggering Rs 2.01 lakh crore in GST evasion across 6,084 cases, according to the agency’s annual report. This marks a significant jump from Rs 1.01 lakh crore detected in 2022-23, highlighting an …
In a major crackdown on fraudulent Input Tax Credit (ITC) claims, the Central Goods and Services Tax (CGST) Palghar Commissionerate has uncovered a fake ITC racket amounting to Rs. 59.11 crore. The operation led to the arrest of three individuals involved in orchestrating the scheme, including …
The Crime Investigation Department (CID) is getting ready to interrogating some of the officials of the commercial taxes department including the former Chief Secretary Somesh Kumar in connection with a GST scam. The case which lies in financial impropriety in the department was first registered by …
On September 14, Zomato announced its intention to appeal a recent GST order from the West Bengal government, which demands a total of Rs 5.6 crore for the period from April 2020 to March 2021. This amount includes GST, interest, and penalties. Initially, Zomato disclosed on …
Professional Development Committee The Institute of Chartered Accountants of India 17th September, 2024 Announcement Hosting of Multipurpose Empanelment Form (MEF)- 2024-25 Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2024-25, which is available atย https://meficai.org/. Before filling the Multipurpose …
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๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฎ๐ฌ ๐๐ฅ๐๐๐๐ฆ๐๐ง๐ญ ๐๐จ๐ซ ๐๐ ๐๐๐๐ซ๐ฎ๐ข๐ญ๐๐ซ๐ฌ : This time, the CMI&B is organizing the 60th edition of the Campus Placement Programme in August- October, 2024 at 29 centers across the country. We have an exceptional cohort of young, talented Chartered Accountants ready to bring their skills, …
CBIC Updates for e-Invoicing Recent changes have notably lowered the initial threshold for mandatory e-invoicing, which was formerly established at higher levels. This means that medium-sized enterprises are now subject to this requirement as well. Effective e-invoice solutions are now more important than ever to meet …
