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12 Apr E-Invoicing Under GST
E-invoicing within the GST framework refers to the electronic authentication of invoices as outlined by GST regulations....
Financial reporting Tag
04 Apr Tax Liability cannot be imposed merely because the financial statement did not provide State-wise turnover
The imposition of tax liability solely based on the absence of state-wise turnover information in financial statements has been contested in the legal realm....
04 Apr Mandatory E-Invoicing for Businesses with Turnover above INR 5 Crores
The GSTN, in its recent Advisory No. 628 dated April 3, 2024, has made e-Invoicing mandatory for businesses with a turnover exceeding INR 5 crores starting from April 1, 2024....
02 Apr Investigation of Large Corporations and Multinational Companies under GST Requires ‘Formal Authorization’
The Department of Revenue has issued directives to CGST officials regarding the initiation of investigations into cases involving prominent industrial entities and multinational corporations (MNCs)....
21 Mar CBDT issues corrigendum to include sec. 43B(h) disallowance under clause 22 of Form 3CD
The Central Board of Direct Taxes (CBDT) introduced amendments to Form 3CD through Notification No. 27/2024 /F. No. 370142/3/2024-TPL, dated 05-03-2024. These amendments primarily focused on enhancing disclosures related to certain provisions of the Income Tax Act....
18 Mar Extension of Peer Review Mandate for CA Firms in Phase II & III
The Institute of Chartered Accountants of India (ICAI) has extended the applicability of the Peer Review Mandate for Chartered Accountant (CA) firms covered under Phase II & III. This revision aims to ensure adherence to enhanced quality standards within the profession....
12 Mar GSTN Issues Important Advisory on GSTR-1/IFF: Introduction of New Tables 14A and 15A
An advisory, Advisory No. 627 dated March 12, 2024, has been issued by the GSTN regarding the introduction of new Tables 14A and 15A in GSTR-1/IFF....