Government accounting in India follows cash basis of accounting. Government Accounting Standards Advisory Board (GASAB) constituted by the Comptroller and Auditor General of India with support of Government of …
CBIC issues instructions on the procedure for sanctioning IGST refunds withheld in accordance with Rule 96(4)(c), which are transmitted to the jurisdictional GST authorities in accordance with Rule 96(5A) …
For the benefit of Members and other stakeholders, the ICAI has published a revised checklist on the disclosure requirements prescribed by accounting standards (AS) 1 to 29 (October 2022 …
CBIC has notified that the Competency Commission of India (CCI) will take the place of the National Anti-Profiteering Authority (NAA) for GST anti-profiteering complaints, i.e., CCI will be stepping …
The ICAI has issued an updated publication titled “Indian Accounting Standards (Ind AS): Disclosures Checklist (2022 Edition),” which includes approximately 3000 disclosures for companies preparing Ind AS-based financial statements …
CBIC notifies the CGST (3rd Amendment) Rules 2022 to amend the instructions at paragraph 7 of form GSTR-9 for providing an increased time limit to taxpayers for claiming input …
The co-browsing (collaborative browsing) feature of the IT Portal is now available to income-tax payers. This feature enables Helpdesk agents to safely navigate a taxpayer’s browser screen and lead …
CBIC has issued clarification/guidelines for verification of the transitional input tax credit (ITC) by the field formations, in light of the Orders of the Hon’ble Supreme Court dated 22/07/2022 …
CBIC has issued clarification on issues related with refunds of unutilized input tax credit (ITC), accumulated due to an inverted duty structure, u/s 54(3) read with Rule 89(5) and …
ICAI has mandated Phase I (beginning on April 1, 2022) and Phase II (beginning on April 1, 2023) for obtaining a peer review certificate by the relevant practise units.