Accounting And Audit 22 September 2026
ICAI Reforms, Birla Tax SCN Update
India's Institute of Chartered Accountants plans major CA Act reforms to spur firm growth and global competition. Meanwhile, Birla Corporation's subsidiary received a Rs 15.02 crore show‑cause notice for excess ineligible input tax under the CGST Act, underscoring stricter tax audit enforcement.
- ICAI reforms: The Institute of Chartered Accountants of India (ICAI) announced plans to revise the CA Act, targeting enhanced growth for Indian accounting firms and better global competitiveness. Read more
- Birla SCN: Birla Corporation Ltd.'s wholly‑owned subsidiary was issued a Rs 15.02 crore show‑cause notice for claiming ineligible excess input tax under Section 16(4) of the CGST Act, prompting a request to extend tax audit filing deadlines. Read more
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