ICAI issues E-Handbook on Classification under GST Under Indirect Tax Laws, classification is the categorization of goods or services crucial to ascertain whether a subject matter is exigible to tax, exemption, rate of tax etc. In GST regime, classification…

India Business News: ​The warning, that also acts as an advisory, comes at a time when the income tax returns filing season is on and the Central Board of Direct Taxes (CB

ITR preparation utilities and schema for  ITR 2-7 revised wef 9th August 2018
The Central Board of Direct taxes have revised the Income Tax Return preparation utilities (Excel as well as Jave based) for ITR Forms 2 to 7 wef 1st August 2018.  CLICK TO DOWNLOAD…

“Clause wise Analysis and New Requirements in Revised Form 3CD of Tax Audit Report

Goods and Services Tax Network (GSTN) CEO Prakash Kumar said that the original date for rollout of e-Way Bill was April 1 and preponing it to February "on a whim" was a mistake.

Proposed clause 30C and proposed clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2019
Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires prescribed persons…

Updated GST Bare Act and Rules- 16th August 2018 The Indirect Tax Committee of ICAI have issued updated publication GST Bare Act and Rules, Third Edition dated 16th August 2018.
It Includes following: 
1)  Bird Eye View of GST Law,
2) 101st Constitution…

Revised Form 3CD Schema version 1.11 dated 18th August 2018 The Central Board of Direct Taxes (CBDT) have released schema for Revised Form 3CD schema (Tax Audit Report) version 1.11 on 18th August 2018 applicable from filing of forms with effect from 20th…

Extension of Last Date of Multipurpose Empanelment Form for the Year 2018-19 As our Members are aware that Kerala is facing its worst flood in 100 years, with 80 dams opened and all rivers in spate. A body blow has been dealt to the scenic state, with its…

Users complains of various glitches for July 2018 GSTR 3B filing
Post published on 20-8-2018 at 1.25 PM
Users across India are updating about many glitches being encountered on GSTN portal while filing Form GSTR 3B on Twitter as well as Professional Whatsapp…

Official GST Twitter handle for answering queries deactivated
Published on 20th August 2018 , 5.10 PM
The Official Twitter handle of the Finance Ministry for queries on GST @askGST_GoI  have been deactivated. The Twitter search is returning following result.…

GSTN portal updates about Due date extension.
published on 21-8-2018 3.25 PM
The GSTN Portal have updated that the last date for filing Form GSTR 3B for the month of  July 2018 has been extended to 24th August 2018.
Users were not able to access the portal…

Update about why such linking asked by Income Tax Department
Taxpayers are receiving SMS from Income Tax Department as follows.
  Certain doubts are being raised about its purpose on social media.  
Users can go through following Tweet by CA Ameet Patel…

Download ICAI implementation guide for reporting on Revised Tax Audit Clauses CBDT vide Notification No. 33/2018 dated 20th July, 2018 has made revisions to Form No. 3CD wherein it requires additional requirements to be reported. The additional inclusions…

ICAI Valuation Standards effective for the valuation reports issued on or after 1st July, 2018
Institute of Chartered Accountants of India (ICAI) issues ICAI Valuation Standards 2018 as a benchmark for Valuation Practices applicable for Chartered Accountants…

E-filing Site not allowing login 
posted on 25th August 2018, 5.55 PM
Income Tax E filing site is throwing glitches since yesterday and as a result the work of filing Income tax returns is hampered across the country. The site is showing a message as