Draft Bank Branch Auditors Panel for the Year 2017-18

Draft Bank Branch Auditors Panel(MEF) of Chartered Accountants/firms for the year 2017-18 has been prepared alongwith the category of the applicants. The Draft Panel contains the following: 1. MEF No. 2. FRN No./MRN No. 3.Concern Name 4.Unique Code No. 5. Pin Code 6. District 7. Category 8. Remarks The applicants are able to view the… Read More »

Empanelment of Stock Auditors by IOB

IOB invites application for appointment of stock auditors. To be submitted with all supportive  documents to reach Central Office, Chennai on or before 30.11.2017)  

CBDT Instructions for Assessing Officers (AO) on Framing Scrutiny Assessments of Revised/ Belated returns filed by Assessees (post-demonetisation)

1. Post-demonetisation, it was found that some of the assessees tried to build an explanation for cash deposits in their bank account(s) by manipulating their books-of-accounts and filing revised/ belated income-tax returns. In this regard, Finance Ministry issued a Press Release dated 14th Dec. 2016 in which it had cautioned that post-demonetisation exercise, provisions of Income-tax Act,… Read More »

Constitution of Fifteenth Finance Commission

The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27th November, 2017. The Commission will make recommendations for the five years commencing on April 1, 2020.… Read More »

GSTR 4 Offline Tool Updates

Step by step guideline for taxpayers to download GSTR 4 Offline Tool from the GST Portal.   Step by step guideline for taxpayers to fill worksheets using GSTR 4 Offline Tool.   Taxpayers guide to upload JSON file using GSTR 4 Offline Tool.   Taxpayers guide to correcting JSON file processed with error using GSTR… Read More »

Category: GST

GSTR-3B Late Fees Calculation

GST Portal will now be calculating Late Fee (CGST + SGST) payable as below: Rs. 50 per day for filing of FORM GSTR-3B Return after the due date for the month of October, 2017 onwards. Rs. 20/- per day for filing of NIL Return Form GSTR-3B Return after the due date.

Category: GST

Functionality for refund of Input Tax Credit for exports enabled

Functionality for refund of Input Tax Credit of inputs/input services attributed to export of Goods & Services has been made available to taxpayers on the GST Portal. This refund application can be filed only once for a tax period and only if Form GSTR 3B has been filed by the taxpayer for that particular tax… Read More »

Category: GST

GSTR-1 of July Month Reopened (not for all)

Filing of GSTR-1 has been reopened for the month of July 2017. Below mentioned notice appeared today on the GST portal regarding reopening of GSTR-1 of the month of July 2017: GSTR1 for July 2017 has been reopened for filing again. Those who missed filing GSTR-1, may file it now. Screenshot of the notice is… Read More »

Category: GST