SC held that once the court has drawn presumption of existence of legally enforceable debt as per Section 139 of the NI Act, factors like source of funds are not relevant if the accused has not been able to rebut the presumption.
The Institute of Chartered Accountants of India UDIN BEING MADE MANDATORY IN 2nd PHASE FOR GST & TAX AUDIT REPORTS You may be aware that Unique Document Identification Number (UDIN) has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases: […]
Till now, everything was going ok. But all cannot be on the same page all the time. During the 31st GST Council meeting on 22nd December, 2018, States must have felt that due to the pattern allowed to offset the GST input credit, they are having cash flow problems. So decision was taken to insert section 49A & 49B to bring new provision on GST set-off.
Desk review is the first and foremost step taken by an Auditor to conduct an audit . It simply means performing initial audit procedures in the office itself without going to auditees place of business. It involves collecting some important information from the assessee to understand the operations prior to the conduct of field audit.
