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As per the reports, it was found that GST evasion is doubled in the first five months of FY 2018 than the previous year. After going slow during the transition to the GST, tax officer restarted surveying.
As per the initial findings, it seems that the GSTR 9 Audit form is a significant GST return filing form introduced by the government which requires taxpayers to file GST returns of the complete year in a single form.
Recently the Ministry of corporate affairs has issued a new revised draft for the amendment of details to be given in the cost audit reports required by the companies to submit them with the government.
Amazon and other e-commerce websites may get tax department audit soon, as the reports state that the government wants to ascertain the GST rate cut benefits being given to the consumers.
The Comptroller and Auditor General (CAG) is working to finalize an ‘End to End IT Solution’ to review the Goods and Services Tax (GST).
Audit is known as examination and inspection of the financial statements of a firm to make sure that the records related to the company are current and fair. Generally audit work is done by the professionals like CA. But, nowadays, many chartered accountants takes help of software to audit the records the firms. There are […]
If due to any unavoidable situation the factory gets closed then it is not obligated to pay the excise duty, the Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) cited. The Bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has marked that “the closure of the factory was not on […]
The Bombay High Court in a ruling addressed the problem of routine arrests under GST allegations. The matter of Mahesh Devchand Gala vs Union of India brought to light the arbitrary detention practices of authorities, pressing the court to grant interim bail to the applicant. The applicant, Mahesh Devchand Gala, approached the Bombay High Court […]
The income tax department permitted the trusts and institutions, which filed audit reports for the AY 2023-24 in wrong forms, to file documents in valid forms by March 31. Income of any fund or institution or trust or any university or other educational institution or any hospital is waived from income tax as per the […]
