Indian Chartered Accountants

ICAI Invites Application for Awards for Excellence in Financial Reporting for the year 2017-18, to all business entities that publish annual reports, to participate in this annual competition of the Institute by 30th Sept 2018

SEBI is likely to let cos use stock exchanges to sell bonds directly to investors, including retail investors, any time and as many times during a financial year, after filing a single prospectus Sugata Ghosh & Reena Zachariah ‘Bond tap’, which gives corporates the flexibility to time the market, prune cost, and dramatically cut down on paperwork for raising money, will soon be a reality in India.

MCA: As per the extant rules, in respect of an individual who is in possession of Duplicate/Multiple DINs, he can retain the Oldest DIN only. DINs obtained later have to be surrendered. Further DIN once associated is NOT eligible for surrender.

Government of India has notified the Common Application Form (CAF) for the purpose of registration, opening of bank and dematerialized accounts, as well as for Permanent Account Number (PAN) application by Foreign Portfolio Investors (FPIs).

GST complaints can be filed at Consumer Helpline No. 011-21400643 regarding GST input credit and profiting under National Anti Profiting Authority Act (NAA).

CBDT has mandated ‘e-proceeding’ for all income-tax scrutiny in 2018-19. It has also specified seven situations where e-proceeding will not be mandatory this year. These include search cases, cases where returns were filed in paper mode and the assessee doesn’t have an e-filing account, and geographical areas with limited bandwith.

ICAI releases ICAI Valuation Standards effective for the valuation reports issued on or after 1st July, 2018. https://resource.cdn.icai.org/51432vsb41162.pdf.

resource.cdn.icai.org

SEBI extended the trading timings in securities lending and borrowing (SLB) segment by over two hours till 5 pm. "It has been decided to permit stock exchanges to set their trading hours in the SLB Segment... between 9 AM and 5 PM," the Securities and Exchange Board of India (Sebi) said in a circular.

The office of the state GST (erstwhile commercial tax department) has issued a notification offering existing taxpayers a window till August 31 to complete their migration to GST.

CBIC extends the due dates for filing Form GSTR-3B for the m/o JUL’18 & AUG’ 18 for the registered persons in the flood affected Kerala, Kodagu district in Karnataka and Mahe in the UT of Puducherry to 05.10.18 & 10.10.18 respectively– NotiNo.36/2018 – CT, dt.24.08.18.

Niti Aayog has suggested the government to bring down import duty on gold from the existing level of 10 per cent and also slash the GST rate on the precious metal from the current 3 per cent. It has also recommended the govt to review and revamp the gold monetisation scheme and the sovereign gold bond scheme and introduce new gold savings account in banks.

CBDT has released parameters for manual selection of Income Tax Returns for Complete Income Tax Scrutiny during financial year 2018-19 vide Instruction No. 04/2018 Dated: 20th August 2018.