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Archive: November, 2018

Posts in November, 2018

Standard on Internal Audit (SIA) 330 Internal Audit Documentation

November 29, 2018 10260 Views 0 comment Print

Internal Audit Documentation refers to the written record (electronic or otherwise) of the internal audit procedures performed, the relevant audit evidence obtained and conclusions reached by the Internal Auditor on the basis of such procedures and evidence (Terms such as work papers or working papers are also used to refer documentation).

Procedure for referring complaints to MahaRERA Conciliation & Dispute Resolution Forum by MahaRERA or Adjudicating Officer 

November 29, 2018 1959 Views 1 comment Print

When a complaint is being heard by MahaRERA or an Adjudicating Officer of MahaRERA and the said authority is satisfied that there is a possibility of settlement by way of conciliation, then with the consent of both the parties involved, it may refer the complaint to a designated bench of the Maharashtra Conciliation and Dispute Resolution Forum.

Standard on Internal Audit (SIA) 320, Internal Audit Evidence

November 29, 2018 5196 Views 0 comment Print

Internal Audit Evidence refers to all the information used by the Internal Auditor in arriving at the conclusions on which the auditor’s opinion is based. It includes both information collected from underlying entity records and processes, as well as information from the performance of various audit activities and testing procedures.

Format of Declaration U/s. 194C(6) For Non–deduction of TDS by Transporter

November 29, 2018 525960 Views 12 comments Print

Format of Declaration Under Section 194C (6) For Non – Deduction of Tax at Source (TDS) to be furnished by the Transporter wef 01.06.2015 i.e. NO TDS in case where such transporter owns ten or less goods carriages at any time during the previous year and furnishes a declaration to such effect, along with PAN.

Standard on Internal Audit 310 Planning Internal Audit Assignment

November 29, 2018 3879 Views 0 comment Print

This Standard on Internal Audit (SIA) 310, Planning the Internal Audit Assignment, issued by the Council of ICAI should be read in conjunction with Preface to the Standards on Internal Audit, “Framework Governing Internal Audits and Basic Principles of Internal Audit issued by the Institute.

Unfilled Part B of e-way bill cannot be treated as a minor omission: Goods can be released only on Compliance

November 29, 2018 2796 Views 0 comment Print

Daily Express Vs Assistant State Tax Officer (Kerala High Court) Section 129 is a self-contained code. It lays down the entire mechanism for provisional release of the goods.  Section 129 begins with a non-obstante clause. It stands protected from every other provision. Earlier this Court, on more than one occasion, has held that unfilled Part […]

EPFO Facilitating Aadhaar number seeding in UAN

November 29, 2018 2040 Views 0 comment Print

UIDAI has clarified that EPFO may continue to avail Aadhaar based authentication services for the schemes for which notification under Section 7 of the Aadhaar Act, 2016 has been issued and duly published in the Official Gazette.

NSFR guidelines will come into effect from April 1, 2020

November 29, 2018 777 Views 0 comment Print

Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines- It has now been decided that the NSFR guidelines will come into effect from April 1, 2020.

Turnkey EPC Project for Solar Plant comes under Works Contract,18% GST payable

November 29, 2018 4779 Views 0 comment Print

In re RFE Solar Private Limited (GST AAAR Rajasthan) AAAR held that Turnkey EPC contract is a ‘composite supply’ under section 2(30) of the CGST Act, 2017.The said composite supply falls within the definition of Works contract under section 2(119) of the CGST Act, 2017 (SAC9954) and attracts 18% rate of tax (either 9% each […]

Legal Entity Identifier Code for participation in non-derivative markets

November 29, 2018 5670 Views 0 comment Print

In case of non-derivative forex transactions, while all inter-bank transactions shall be subject to LEI requirement, client transactions shall require LEI code for transactions involving an amount equivalent to or exceeding USD one million or equivalent thereof in other currencies.

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