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Archive: November, 2018

Posts in November, 2018

Relaxation on the guidelines to NBFCs on securitisation transactions

November 29, 2018 627 Views 0 comment Print

It has been decided to relax the Minimum Holding Period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of six monthly instalments or two quarterly instalments (as applicable), subject to the following prudential requirement:

Interest Equalisation rate increased to 5% in respect of exports by MSME

November 29, 2018 3132 Views 0 comment Print

It has been decided by the Government of India to increase w.e.f. November 02, 2018 Interest Equalisation rate from 3% to 5% in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit.

Analysis of top 100 bank frauds by central vigilance commission

November 29, 2018 2463 Views 0 comment Print

The rising trend in Bank frauds has been a cause of concern at all levels. In view of the alarming rise in Bank frauds, the Central Vigilance Commission has undertaken a review and analysis of top 100 Banks Frauds, as on 31.03.2017.

High level flow of information from GSTR-2 to other returns: FAQs

November 29, 2018 3057 Views 3 comments Print

Explain in detail the various actions that I can perform as a Receiver Taxpayer on the uploaded invoices that are auto populated in my Form GSTR-2 for a given tax period.

Checklist For Conducting GST Audit

November 29, 2018 97845 Views 3 comments Print

The present article helps to list down some of the important points, like GST registration certificate, verification of invoice prepared under GST law, input tax credit availment as per GST law and job work transaction, to be taken care of while conducting the GST audit.

Reg. Replenishment of the gold or silver to the exporter

November 29, 2018 420 Views 0 comment Print

Provided further that no replenishment of the gold or silver shall be available to the exporter where the exporter avails, in respect of exported product – (i) Cenvat credit on inputs under the Central Excise Act,1944; or (ii) input tax credit on inputs or services or both under Chapter V of the Central Goods and Services Tax Act, 2017; or (iii) refund of input tax credit or refund of integrated tax under section 54 of the Central Goods and Services Tax Act, 2017

SIA 220, Conducting Overall Internal Audit Planning

November 28, 2018 2325 Views 0 comment Print

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 Institute.

SIA 210 Managing Internal Audit Function

November 28, 2018 2889 Views 0 comment Print

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 follows:

Basic Principles of Internal Audit

November 28, 2018 33228 Views 0 comment Print

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 notified by […]

Top 10 FAQs on GSTR-9

November 28, 2018 24981 Views 2 comments Print

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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