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Latest Articles
Little relief expected for gas prices ahead of Election Day, according to prediction markets
4+ hour, 55+ min ago (309+ words) Affordability is seen as one of voters' top issues heading into the 2026 midterm elections. And gas prices — one of the items where consumers are getting squeezed the most — are expected to remain elevated through Election Day. Speculators on prediction market…...
GST Average Rate Falls To 10.84% After September Rate Rationalisation
4+ hour, 56+ min ago (238+ words) The average Goods and Services Tax (GST) rate has fallen to 10.84 per cent following the rationalisation of GST rates in September last year, sources said. The average rate stood at 11.4 per cent in 2023. The latest decline comes after the GST…...
Audit committees need an AI evidence pack, not just more AI expertise
1+ hour, 38+ min ago (906+ words) Artificial intelligence is moving onto audit committee agendas faster than many committees are becoming comfortable overseeing it. Those findings may prompt boards to add more technology expertise. That can help, but expertise alone will not solve the oversight problem. An…...
Deloitte fined £6M by FRC over go-ahead group auditing
1+ hour, 53+ min ago (306+ words) Deloitte LLP was hit with a more than £6 million ($7.9 million) fine by a U.K. regulator over audits of the Go-Ahead Group Ltd. The Financial Reporting Council said on Thursday that Deloitte "failed to enquire sufficiently, failed to apply sufficient…...
GST Council Makes Closing A Business Automated: What Small Taxpayers Need To Know
7+ hour, 10+ min ago (755+ words) The 57th meeting of the GST Council has proposed a series of measures aimed at improving ease of doing business, including making the closure of GST registrations automatic in stages, beginning with smaller taxpayers. Under the proposed changes, the final return…...
GST Council’s Big Business Push: Faster Registration, Automated Refunds And Less Paperwork
8+ hour, 1+ min ago (781+ words) The 57th meeting of the GST Council has proposed a series of process reforms aimed at making registration, returns and refunds easier and faster for businesses. Under the proposed changes, GST registration is already being granted within three working days through…...
GST Council Eases Rules For Small E-Commerce Sellers, Simplifies Registration Process
8+ hour, 5+ min ago (202+ words) The 57th GST Council has approved an easier registration mechanism for small sellers using e-commerce platforms, in a move aimed at reducing the compliance burden involved in selling goods across state borders. Under the new framework, eligible sellers will be able…...
Former IRS chief teams with AICPA on AI tax risk group
4+ hour, 23+ min ago (535+ words) Former IRS Commissioner Danny Werfel and the AICPA are teaming up to form a new working group, the Council on AI Risk in Tax, or CART, that brings together leaders from accounting, law, technology, government and academia to advance responsible…...
Goodbye 'Truck Shakedowns', Hello 3-Day Refunds: The 10 Biggest Reliefs In GST 2.0
8+ hour, 49+ min ago (481+ words) Here are the 10 most critical decisions and policy changes unveiled by the Finance Minister: Small sellers will no longer need physical offices in every state to sell across India on digital platforms. Merchants with monthly tax liability below Rs 2.5 lakh…...
Power Of Arrest Removed, No Double Taxation, Faster Refunds: GST Council Unveils Mega Reforms
9+ hour, 29+ min ago (604+ words) The 57th meeting of the GST Council has proposed a major shift in the way tax enforcement works, including removing the power of arrest under GST, raising the prosecution threshold from Rs 1 crore to Rs 5 crore and lowering the general penalty…...