ICAI will set up centre for e-filing tax returns

ICAI will set up centre for e-filing tax returnsThe apex accounting body ICAI has announced to set up centres for filing returns and tax-related documents electronically. The will be helpful implementing goods and services tax (GST) effectively.

According to sources the Central Bureau of Excise and Customs (CBEC) and the Institute of Chartered Accountants of India (ICAI) have signed an agreement to come up with facilitation centres across the country. This will help to e-file returns and documents to the Central excise and service tax assesses. ICAI president Amarjit Chopra has informed that, the memorandum of understanding is going to be helpful for all accesses.

This will undoubtedly provide a new experience of collection of tax during the GST regime as per the ICAI president. Chopra has also said that the authorities need to crosscheck the data that have entered in the e-files and the CAs will responsible for each inaccurate entry.

It has been expected that from 1st April next year the new tax regime will be introduced and can replace almost all levies in the section soon.

Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate