Mumbai, October 7, 2017
MoS finance will visit Mumbai on Monday to discuss how to take stock of unaccounted bank deposits
New Delhi, October 7, 2017
28 per cent tax slab is bound to get "gradually reduced" in coming days
October 6, 2017
Categories include equity, debt, hybrid, solution oriented; fund houses will have to carry out necessary changes within a maximum period of two months
Framing of rules in respect of Country-by-Country reporting and furnishing of master file
[Last date for comments: October 16, 2017]
Mumbai, October 6, 2017
Jewellers and consumers will not have to keep record of PAN and Aadhar for purchases above Rs 50,000
New Delhi, October 6, 2017
Bringing significant relief to small and medium businesses and exporters, the Goods and Services Tax (GST) Council on Friday finalised a slew of relaxation measures. It also lowered GST rates for 27 items.
Mumbai, October 6, 2017
A Committee on Corporate Governance formed by the Securities and Exchange Board of India (SEBI) has proposed that the capital market regulator should have clear powers to act against auditors and other entities that have a statutory duties under the securities regulations.
Report by the Committee on Corporate Governance
[Last date for comments: November 4, 2017]
Accounting Standard (AS) 23: Borrowing Costs [Last date for comments: October 31, 2017]
Accounting Standard (AS) 24: Related Party Disclosures [Last date for comments: October 31, 2017]
Proposed Accounting Standards Update:
[Last date for comments: December 4, 2017]
October 4, 2017
Companies and their auditors are getting ready for the Public Company Accounting Oversight Board’s new audit reporting model, despite uncertainty over whether the Securities and Exchange Commission will approve the new standard.
Gandhinagar, October 5, 2017
The Gujarat government on Tuesday issued a notification announcing that VAT incentives and concessions previously available under the state's industrial policies will now be available under State Goods and Services Tax (SGST). This will apply to all the policies prior to July 1 under which financial incentives were given.
Bengaluru, October 5, 2017
With the deadline for filing detailed GST returns for July nearing, the Sushil Modi-led Group of Ministers has asked the IT backbone provider GSTN and Infosys to send reminder text messages to two million businesses which are yet to submit their tax forms.
BL Research Bureau
Tax payers are currently grappling with filing GST returns such as GST TRAN 1, GSTR 3B, GSTR 1. Unfamiliarity with the new system is leading to many errors and assessees have requested the government to provide provision for revision of returns.
New Delhi, October 4, 2017
The apex bank had last cut SLR in its June policy by 0.5% to 20%
October 3, 2017
The Financial Accounting Standards Board published a proposed accounting standards update Tuesday to clarify and get rid of some specific inconsistencies in key parts of GAAP.
New Delhi, October 3, 2017
Petition challenges changes in statutes
The Supreme Court on Monday asked the Centre and the Election Commission to respond to a petition challenging the various amendments made through Finance Act 2017 and Finance Act 2016 in various statutes, saying these changes have opened the floodgates for unlimited corporate and foreign donations to political parties.