India is taking steps to impose tax on income generated by Netflix Inc’s from streaming services in the country. In a draft order, the tax authorities attributed an income of about ₹55 crore ($6.73 million) to Netflix’s Indian permanent establishment (PE) in the assessment year 2021-22, the report …
The Directorate General of GST Intelligence (DGGI) and Directorate of Revenue Intelligence (DRI) have detected alleged Integrated GST evasion to the tune of ₹11,000 crore by 24 large importers. “So far evasion detected is about ₹11,000 crore in about 24 cases and we have sent notices …
Members & Students Services (Grievances Handling and e-Sahaayataa) Directorate The Institute of Chartered Accountants of India 11th May, 2023 Convocation 2023 The next ICAI Convocation will be held at following Cities as per dates mentioned, for Members who are enrolled during the period from 1st October 2022 to …
Students Skills Enrichment Board The Institute of Chartered Accountants of India 11th May, 2023 ANNOUNCEMENT The Advanced IT (Old Syllabus) Test conducted by Examination Department for students who have undergone Advanced IT (Old Syllabus) course will not be conducted after September 2023. All eligible students who …
CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application for Central Tax Officers During the recent review of the performance of the Central Board of Indirect Taxes & Customs (CBIC), Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman had …
According to a report officials have prepared a detailed list of entities and their beneficiaries that allegedly created multiple shell firms to represent fake transactions and the tax authorities will target such entities during the next two months. Tax authorities are planning stricter actions on companies that …
Accounting Standards Board The Institute of Chartered Accountants of India 10th May, 2023 Exposure Draft on Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by …
Peer Review Board The Institute of Chartered Accountants of India 10th May, 2023 ANNOUNCEMENT Deferment of second phase of Peer Review Mandate The Council at its 407th Meeting held from 7th to 9th January 2022 decided to mandate the Peer Review process for coverage of more …
CBIC has issued notification to provide that the option for the Financial Year 2023-2024 to pay tax under Forward Charge by Goods Transport Agency shall be exercised on or before the 31st May, 2023. Earlier, this option was required to be exercised before 15th March, 2023. …
