GST Compliance Calender for August, 2023
For ready reference of our readers we have compiled a GST compliance calendar containing the important dates for compliance of…
Author: TW Editorial Team
TW Editorial Team comprises of team of experienced Chartered Accountants and Advocates devoted to spread the knowledge of GST amongst the various stakeholders.
I-T department to use AI regression model to find deviations
The Income Tax department is exploring usage of artificial intelligence (AI) to build regression models to identify deviations and errors in tax…
Tax Audit Report: Form 3CD – Clause 44: Break-up of expenditure
Clause 44 of the Form No. 3CD requires break-up of total expenditure of entities registered or not registered under GST…
Mastermind in generating fake invoices, bills apprehended by GST officials
Officers of the Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, apprehended a Hyderabad resident, who is said to…
Tax Audit Report under Section 44AB: Basics you need to know
Tax Audit Report Section 44AB requires the tax auditor to submit the audit report in the prescribed form and setting…
Gold & Silver rates for Income Tax purposes
As per the provisions under the Income Tax Act, 1961 any gain on the sale of gold, silver, or jewellery,…
Hostel accommodation to attract 12 per cent GST: AAR
The AAR, while hearing a case of Karnataka-based Srisai Luxurious Stay LLP, said that only rent for residential dwellings would…
GST Council Meet on August 2: New definition / provisions regarding online gaming
The GST Council is likely to clarify the definition of online gaming, on which it had announced a 28 percent…
FAQs on Tax Audit under section 44AB of the Income Tax Act, 1961
The dictionary meaning of the term “audit” is check, review, inspection, etc. There are various types of audits prescribed under…
Mahila Samman Saving Certificate Scheme: All you need to know
The Union Finance Minister, Smt. Nirmala Sitharaman announced Mahila Samman Saving Certificate, a new small savings scheme for women and…
No GST on Loan given to credit card holders: Calcutta HC
Loan given to credit-card holders will not be different from normal loan and will not attract Goods and Services Tax (GST), Calcutta High Court…
Revised booklet on Indian Accounting Standards published by ICAI
The implementation of Indian Accounting Standards (Ind. AS) in India signifies a progressive leap forward in the accounting landscape, bringing…