"28 November 2018" Archive

SIA 220, Conducting Overall Internal Audit Planning

This Standard on Internal Audit (SIA) 220, Conducting Overall Internal Audit Planning, issued by the Council of the Institute of Chartered Accountants of India should be read in conjunction with the Preface to the Standards on Internal Audit, Framework Governing Internal Audits and Basic Principles of Internal Audit issued by the Institut...

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Posted Under: CA, CS, CMA |

SIA 210 Managing Internal Audit Function

The Internal Audit Function, generally, comprises of the Chief Internal Auditor and a team of individuals performing internal audits in an organisation. 1.2 The Internal Audit Function performs a number of activities to achieve its objectives as outlined in its Charter (or Terms of Engagement). A few of the critical activities are as foll...

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Posted Under: CA, CS, CMA |

Basic Principles of Internal Audit

Standard on Internal Audit (SIA) 2, Basic Principles Governing Internal Audit was, originally, issued by the Board in August, 2007 which was recommendatory in nature. The revised Basic Principles of Internal Audit is being issued as overarching document for all the Standards on Internal Audit, and shall become mandatory from such date as ...

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Posted Under: CA, CS, CMA |

Top 10 FAQs on GSTR-9

There have been a lot of queries from taxpayers on various stages of filing GSTR-9. Here are 10 most Frequently Asked Questions on the filing of annual GST Returns that will surely help the newly registered taxpayers in their first session of tax assessment....

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Posted Under: CA, CS, CMA |

Framework Governing Internal Audits

Framework for Standards on Internal Audit was, originally, issued by the Board in August 2007, which was recommendatory in nature. The revised Framework Governing Internal Audits shall become mandatory from such date as notified by the Council. 1. Introduction and Scope 1.1. The Framework Governing Internal Audits lays down the underlying...

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Posted Under: CA, CS, CMA |

Preface to the Framework and Standards on Internal Audit

Preface to the Standards on Internal Audit was, originally, issued in November, 2004, revised in July, 2007, and was recommendatory in nature. The revised Preface to the Framework and Standards on Internal Audit shall become mandatory from such date as notified by the Council. 1. Introduction This Preface to the Framework, Basic Principle...

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Posted Under: CA, CS, CMA |

GST exempt on Inspection service to Govt Authority related to water supply & sewerage

In re Dr. Amin Controllers Private Limited (GST AAR Tamilnadu)

In re Dr. Amin Controllers Private Limited (GST AAR Tamilnadu) The activity of the Applicant as per the two contracts i.e. entered into with Tamil Nadu Water Supply and Drainage Board for conducting Third Party Inspection for procurements of equipment supplied by L&T , Chennai to TWAD under CWSIS to Vellore Corporation and various Mun...

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GST: Consultancy services to Chennai Metro under smart city mission are exempt

In re M/s. Tamil Nadu Water Investment Company Limited (GST AAR Tamil Nadu)

In re M/s. Tamil Nadu Water Investment Company Limited (GST AAR TamilNadu) Whether Sl.No.3 of Notification No.12/2017- Central Tax(Rate) dated 28th June 2017 is applicable for the services rendered by Tamil Nadu Water Investment Corporation (TWIC) to Chennai Metro Supply and Sewerage Board (CMWSSB). The activity of the Applicant as per th...

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GST on bags made of Non-woven fabrics of Polypropylene/ 100% Cotton

In re Senthilkumar Thilagavathy [M/s. JVS Tex] (GST AAR Tamilnadu)

In re Senthilkumar Thilagavathy [M/s. JVS Tex] (GST AAR Tamilnadu) Classification of bags made of Non-woven fabrics of Polypropylene/ 100% Cotton (Grey Fabrics) used for packing of goods, commonly called as ‘Stick bags/Wedding Gift Bags/ Reusable Shopping Bags/ Draw-String Gift Bags/ Garment Bags, etc and its rate of tax payable un...

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HSN code & GST Rate for Non-Woven and Cotton Bags

In re Balu Ramamoorthy Sekar Proprietor of M/s.Savani Screens (GST AAR Tamil Nadu)

In re Balu Ramamoorthy Sekar Proprietor of M/s.Savani Screens (GST AAR TamilNadu) 1. Non-Woven carry bags supplied by the Applicant are classifiable under CTH 4202 22 10 and cotton carry bags supplied by the Applicant are classifiable under CTH 4202 22 20. 2. Upto 14.11.2017, Non-woven and cotton carry bags supplied by the applicant were ...

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