"18 March 2017" Archive - Page 3

ITC reversed under mistaken impression – Remedy

It is well settled law that PAYMENT UNDER MISTAKE OF LAW — MISTAKE DISCOVERED ON NOTICING HIGH COURT DECISION — REFUND IS ALLOWED ...

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Maintenance of Accounts and other Record in GST Law

No specific list of accounts or record has been prescribed in Section 53 of GST Law. It only talked about the true and correct accounts of production or manufacture of goods, inward and outward supply of goods and /or services, accounts of stock of goods, record of input credit availed and output tax payable or paid. ...

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Foreign Currency Borrowings- “Exchange Loss Capitalization” – Ind-As/ IFRS

There are certain foreign currency borrowings which have been taken in order to construct/ create some of the assets of the entity. Company is currently availing option given under para 46/46A of AS-11 and amortizing exchange difference over the period of loan....

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