"01 December 2018" Archive

Standard on Internal Audit (SIA) 13 Enterprise Risk Management

The following is the text of the Standard on Internal Audit (SIA) 13, Enterprise Risk Management, issued by the Council of the Institute of Chartered Accountants of India. These Standards should be read in conjunction with the Preface to the Standards on Internal Audit, issued by the Institute. In terms of the decision of the […]...

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Posted Under: CA, CS, CMA |

Standard on Internal Audit (SIA) 12 Internal Control Evaluation

The following is the text of the Standard on Internal Audit (SIA) 12, Internal Control Evaluation, issued by the Council of the Institute of Chartered Accountants of India. These Standards should be read in conjunction with the Preface to the Standards on Internal Audit, issued by the Institute. In terms of the decision of the […]...

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Posted Under: CA, CS, CMA |

SIA 11 Consideration of Fraud in an Internal Audit

Standard on Internal Audit (SIA) 11 Consideration of Fraud in an Internal Audit The following is the text of the Standard on Internal Audit (SIA) 11, Consideration of Fraud in an Internal Audit, issued by the Council of the Institute of Chartered Accountants of India. These Standards should be read in conjunction with the Preface [&hellip...

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Posted Under: CA, CS, CMA |

Standard on Internal Audit (SIA) 9, Communication with Management

The following is the text of the Standard on Internal Audit (SIA) 9, Communication with Management, issued by the Council of the Institute of Chartered Accountants of India.. These Standards should be read in conjunction with the Preface to the Standards on Internal Audit, issued by the Institute. In terms of the decision of the […...

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Posted Under: CA, CS, CMA |

GST Audit Report – GSTR 9C

A reconciliation statement also known as the GST audit report in FORM GSTR 9C is to be submitted in case the GST audit provisions are applicable to the registered person....

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Posted Under: CA, CS, CMA |

Extend due date for Filing of Annual Return In Form GSTR-9 and Audit Report in Form GSTR-9C

There is sufficient cause and need for the extension of filing of Annual Forms GSTR-9, 9A, 9B and 9C for a reasonable period of time to give justice to the correctness of returns considering the need for reconciliations state-wise. ...

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Brief About National Financial Reporting Authority

Five years after the Companies Act, 2013 provided for the creation of a National Financial Reporting Authority (NFRA), Government has taken steps to implement NFRA. Ministry of Corporate Affairs MCA vide its notification dated 13th November 2018 notified National Financial Reporting Authority (NFRA) Rules 2018. T...

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Analysis of GST on Medical Sector  

Internationally, GST was first introduced in France and now more than 160 countries have introduced GST. The Various countries have , depending upon their requirements and suitability  introduced National level GST or Dual GST....

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Posted Under: CA, CS, CMA |

Issues In Allowing Exemption U/S 54 & 54F- Long Term Capital Gain

Long term capital gain on purchase of residential house is exempt u/s 54 & 54F. The author do not wish to go in the procedure of calculating capital gain. The subject addressed in this article is connected with various issues which are concerned with the allowability or otherwise of the long term capital gain invested in the purchase of r...

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Input GST Credit Available Only on Receipt of Goods

When the goods are dispatched through vehicles, Delivery to transporter by supplier is sufficient to take input tax credit. The expression “any other person “and the expression “otherwise” implies “the person on the behalf of recipient i.e. Transporter” and “by way of transportation contact “respectively. Section 39(1) o...

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Posted Under: CA, CS, CMA |

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