ICAI 75th Annual Report: The Institute of Chartered Accountants of India (ICAI) has notified the 75th Annual Report.
Table of Contents
As per the report, Directorate General of GST Intelligence (DGGI) has issued Show Cause Notice (SCN) worth Rs. 15,797 lakhs demanding service tax from ICAI.
In financial year 2018-19, the Institute received two show cause notices of Rs. 15,797 lakhs from the Additional Director General, Goods and Service Tax Intelligence for payment of service tax on annual fee, certificate of practice fee, entrance fee, Seminar Fees and Coaching Class Fees etc.
The Institute was of the opinion that it is not liable to service tax and filed writ petition No. 3957/2019 in High Court of Delhi in April 2019.
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Additional Director General, DGCEI, Kochi filed a Counter affidavit against the aforesaid writ petition in October 2019 against which the Institute filed a rejoinder affidavit in December 2019.
Due to Covid-19 pandemic, the matter being adjourned from time to time was heard in July 2022 in which the High Court gave directions that the respondent-department should file the Counter Affidavit within four weeks. The next hearing is scheduled on 21st November, 2024.
ICAI 75th Annual Report Details
ICAI 75th Annual Report
Date: 27/09/2024
