SOP Instruction for Scrutiny of GST Returns of FY 2019-20 & onwards: CBIC. New instruction issued by CBIC for the Scrutiny of GST returns filed by taxpayers. The Central Board of Excise and Customs has recently issued instruction no. 02/2023-GST on 26.05.2023 regarding the standard operating procedure (SOP) for the scrutiny of Goods and Services …
Compulsory Audit Trail in Accounting Software w.e.f. 1.04.24 Ministry of Corporate Affairs via notification no. G.S.R. 205(E) dated 24.03.2021, needed companies to comply with using the accounting software which has a feature of recording the audit trail of each and every transaction. An edit log of each change has to be made in books of …
Registrar of Companies Impose Penalty of INR 20,00,000/- for Non-Appointment of CS. Under Section 203 of the Company Act of 2013, as amended by Roc Rule 8 Companies (Appointment and Remuneration of Managerial Personnel) Rule of 2014, requires certain types of companies to appoint key personnel like a Managing Director, Chief Executive Officer or Manager, …
RBI issue FAQ on withdrawal of INR 2000/- Denomination Banknotes Main points to understand about the banknotes withdrawal in the Rs.2000 denomination from circulation: Legal Tender Banks not to issue INR 2000/- notes Time limit Operational limit Use of INR 2000/- note for transactions Business correspondents (BC) can also provide an exchange facility Exchange facility …
GSTN has enabled functionality to validate IRN or search Invoice Reference Number (IRN) from document No. The Goods and Service Tax Network has been implemented a useful function that users allows to get the access Invoice Reference Number even if it was not started recorded for credit note, debit note or an invoice,. Above Goods and …
Main High Value Transactions monitors by Tax Dept. We should require to be cautious because, in last few years, Income tax Authorities have brought into the radar and have been monitoring a large number of high-value and cash transactions. The Income Tax Department continually monitors high-value transactions that exceed a certain threshold. Failure to include …
All about the ONDC (Open Network for Digital Commerce) What is ONDC? ONDC (Open Network for Digital Commerce) is a NGO registered company under Section 8 of Company act which is established for non-profit basis by the Department for Promotion of Industry and Internal Trade (DPIIT) of the to introduce and launch the latest update …
Online utility of Traces(TDS), income tax, GST, ESI, PF What is Gst Login portal page? Gst Login Page: http://www.gst.gov.in is the official Goods and Services tax website, widely known as the GSTN portal/ GST Portal, which facilitates many kinds of services for GST taxpayers, that is start from taking GST Registration, traversing via GST Return filing, …
Cost and work accountants, company secretaries, & Chartered accountants are now come under purview of PMLA. Cost and work accountants, company secretaries, and Chartered accountants who undertake financial transactions on behalf of their clients are now subject to the Prevention of Money Laundering Act. In accordance to the Ministry of Finance, the following activities by …
Overview of Section 194N- TDS on cash withdrawals The objective of introducing Section 194 N is to discourage cash transactions in the country and promote the digital economy. Section 194N – TDS on cash withdrawals over and above Rs 1 crore’ has been implemented via the Finance Bill, 2019. But Finance Bill 2020 amends this …