CSAS-3- Auditing Standard on Forming of Opinion deals with basis and manner for forming Auditor’s opinion on subject matter of the audit. Contents Scope Effective Date Objective Definitions i. Auditor ii. Audit Evidence iii. Records iv. Materiality v. Misstatement vi. Third Party vii. Third Party Information Requirements 1. Process for forming of Opinion 2. Precedence […]
CSAS-2 Auditing Standard on Audit Process and Documentation deals with responsibilities, duties and powers of the Auditor with respect to Audit Process to be followed by him in performing the audit function and maintaining proper documentation with respect to the audit. Contents Scope Effective Date Objective Definitions i. Auditor ii. Auditee iii. Auditee Units iv. […]
CSAS-1 Auditing Standard on Audit Engagement prescribe for an Auditor, principles to accept or continue with an Audit Engagement by agreeing to the terms of engagement with the Management or any changes therein and matters related thereto.
M/s D.A. Stuart India Pvt Ltd Vs C.C.G.S.T (CESTAT Mumbai) In the absence of a statutory provision which prescribes that registration is mandatory, the claim of the Appellant cannot be rejected and both the authorities below have committed an error in rejecting the same. In a very recent decision of the Tribunal in the matter of […]
In re A Raymond Fasteners India Pvt. Ltd. (GST AAR Maharashtra) Advance Ruling authority is not allowed to answer the question on classification of imported goods since the same is out of the purview of Sec. 95 of CGST Act.In this case jurisdictional office has raised the issue of classification of imported goods not being […]
DGFT vide Trade Notice No. 25/2018-29 dated 17.08.2018 has allowed import of minimum 125 MT (5 FCL) of Peas under HS Code 0713 10 00 per contract or less (entire quantity as applied) irrespective of the advance payment made before 25.4.2018. Eligible applicants were to register / enhance their contracts with the concerned jurisdictional Regional Authorities.
All AEOs who are users of duty exemption scheme, are requested to make full use of Self Ratification Scheme. EPCs and RAs of DGFT are also requested to inform the concerned members of trade and disseminate information about this scheme during the interaction with the members so that the AEOs may increase the usage of […]
In re Ms Hotel Leela Venture Limited (GST AAR Karnataka) i) Whether Sale of Karnataka Hotel as going concern on slump sale basis can be construed to be “Supply” in terms of Section 7(1) of the CGST Act 2017? If answered in affirmative, whether the transaction would be regarded as supply of goods or supply […]
In re M/s Sanika Developers (GST AAR Karnataka) The activity of construction of complex or building intended for sale to a buyer wholely or partly, where the entire consideration has been received /receivable after completion of construction, be treated as supply of taxable service ? But the Applicant requested to permit them to withdraw the […]
As most AI / ML systems are black boxes and their behavior cannot be easily quantified, it is imperative to ensure that any advertised financial benefit owing to these technologies in investor facing financial products offered by intermediaries should not constitute to misrepresentation.
