ICAI forms Online Panel of Experts for addressing Bank Branch Audit related queries

Online Panel of Experts for addressing Bank Branch Audit related queries...

source https://news.caclubindia.com/icai-forms-online-panel-of-experts-for-addressing-bank-branch-audit-related-queries-22149.asp

SOP for scrutiny to be finalized ahead of the launch of GST Appellate Tribunal

Together Parliament cleaning the deck to establish GST Appellate Tribunal to resolve rising disputes under the nearly six-year-old indirect tax regime, the revenue department...

source https://news.caclubindia.com/sop-for-scrutiny-to-be-finalized-ahead-of-the-launch-of-gst-appellate-tribunal-22147.asp

FM grants GST exemption on cancer drug for minor

India's indirect taxes body gave a ₹7 lakh goods and services tax exemption for a cancer medication for a small girl....

source https://news.caclubindia.com/fm-grants-gst-exemption-on-cancer-drug-for-minor-22146.asp

No charges on bank account-to-account transaction in UPI

National Payment Corporation of India (NPCI) via its official Twitter handle has issued a statement clarifying that there is no charge to customers. ...

source https://news.caclubindia.com/no-charges-on-bank-account-to-account-transaction-in-upi-22144.asp

Delhi HC Restrains Institute of Cost Accountants of India from Using ICAI Acronym

In a civil suit filed by the ICAI for the infringement of its Trademark 'ICAI', the Hon'ble High Court of Delhi vide judgment dated 21.03.2023 has restrained the Institute of Cost Accountants of India from using 'ICAI' as an acronym ...

source https://news.caclubindia.com/delhi-hc-restrains-institute-of-cost-accountants-of-india-from-using-icai-acronym-22141.asp

Last date for linking of PAN-Aadhaar extended to 30th June 2023

In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions....

source https://news.caclubindia.com/last-date-for-linking-of-pan-aadhaar-extended-to-30th-june-2023-22140.asp

Use of data analytics, big data and AI/ML in tax administration to make it more effective

Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly...

source https://news.caclubindia.com/use-of-data-analytics-big-data-and-ai-ml-in-tax-administration-to-make-it-more-effective-22135.asp

Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS

Credit card payments for foreign travel will be brought under Reserve Bank’s Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS (Tax Collection at Source)....

source https://news.caclubindia.com/credit-card-payments-on-foreign-tours-to-be-brought-under-lrs-to-ensure-compliance-with-tcs-22132.asp

Cabinet hikes Dearness Allowance by 4% for central government employees and pensioners

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today has given its approval to release an additional instalment of Dearness Allowance to Central Governments employees and Dearness Relief to Pensioners with effect from 01.01.2023. ...

source https://news.caclubindia.com/cabinet-hikes-dearness-allowance-by-4-percent-for-central-government-employees-pensioners-22129.asp

Finance Bill 2023: Amendments as introduced in Lok Sabha

Today, i.e. 24th March, Union Finance Minister Nirmala Sitharaman will move The Finance Bill, 2023 in Lok Sabha to give effect to the financial proposals of the Central Government for the financial year 2023-2024 be taken into consideration....

source https://news.caclubindia.com/finance-bill-2023-amendments-as-introduced-in-lok-sabha-22127.asp

Develop mechanism for online audit of GST: Parliamentary Panel on Finance

A high-level Parliamentary panel has suggested to the government to look into the possibility of developing a mechanism for online audit in GST, in order to make the process more efficient and less intrusive....

source https://news.caclubindia.com/develop-mechanism-for-online-audit-of-gst-parliamentary-panel-on-finance-22128.asp

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ICAI mandates CAs to file Know Your Members (KYM) from 2023-2024

ICAI has notified CAs to file 'Know Your Members' (KYM) from 23-24 onwards.KYM also called as "Know Your Member" is a yearly activity. It is mandatory for members to file for KYM 2023-24 onwards.One of the fundamental prerequisites ...

source https://news.caclubindia.com/icai-mandates-cas-to-file-know-your-members-kym-from-2023-2024-22126.asp