The CBIC has issued clarification on statutory dues under GST law in cases where the proceedings have been finalised under Insolvency and Bankruptcy Code, 2016 vide Circular No. 187/19/2022-GST dated 27/12/2022...
The CBIC has issued clarification to deal with difference in Input Tax Credit (ITC) availed in GSTR-3B and GSTR-2A for FY 2017-18 and 2018-19 vide Circular No. 183/15/2022-GST dated 27/12/2022. During the early s...
The GST Council held its last meeting for the year after a long gap since the last 47th GST Council meeting, and thus it had 15 items on the Council's agenda. However, due to time constraints, only eight points were ...
The Institute of Chartered Accountants of India (ICAI), in it's eight edition of Guidance Note on Tax Audit has clarified over the definition of turnover for option traders to determine applicability of tax audit u/s...
Ind AS 10 "Events after the Reporting Period" is applied in the accounting for, and disclosure of, events after the reporting period. What are the objectives of implementing this Ind AS? When an entity...
CBIC vide Notification No. 23/2022 dated 23/11/2022 has empowered Competition Commission of India (CCI) to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022. Currently...
The Hon'ble Supreme Court in the case of New Noble Educational Society vs CIT has held that the educational society or trust should 'solely' engage itself in education or educational activities...
Ind AS 8 "Accounting Policies, Changes in Accounting Estimates and Errors" is intended to enhance the relevance and reliability of an entity’s financial statements, and also to make financial stateme...
There has been a lot of buzz going around the applicability of GST on renting of residential property after the 47th GST Council meeting recommended that GST be made applicable in case the residential property ...
CBDT has vide Notification No. 94/2022 dated 10/08/2022 prescribed new rule 17AA which prescribes the books of account and other documents to be maintained by every fund or institution or trust or any universit...
