Indian Accounting Standards (IndAS)is paradigm shift in accounting practices, It will reduce the diversity in accounting practices and bring transparency in financial reporting process that will helps to build trust and faith to stakeholders on Company’s financial statements.
The Companies Act, 2013 has been amended to insert in the Schedule III, a format for for the Ind AS financial statements. With the amendment in place, we now have two divisions in the Schedule III, Division I being Format for Financial Statements (applicable to companies which are not required to prepare their financial statements […]
Assessee-New Registration as well as amendment of registration to capture additional premises for the first time in ACES A new facility has been provided in Central Excise Registration form A1 for certain category of assessees to opt for Centralised registration/ Single registration and correspondingly, capture the list of premises covered under Centralised registration/Single registration. The […]
Seems the continuing foreign tours taken up by the Prime Minister of our country is indeed resulting in tremendous international alliances for the country. One of the main focus areas of such international tie-ups and alliances is Foreign Direct Investment (FDI).
Any investor would agree that ignorance and lack of awareness in the investment field can prove to be expensive. In the world of finance and investment, risk management is very closely related, rather necessary for measuring performance. Understanding risks is therefore, a crucial part of building your financial and investment knowledge. Before making any investment, […]
DGFT briefly summarized the major initiatives relating to policy simplification, reducing cost of capital through interest subvention, document reduction, IT initiatives like online filing of applications, creation of trade portal and training and outreach activities.
Upon considering her notice for voluntary retirement from Government Service under FR-56(k), the President of India is pleased to allow Smt. Sunita Kejriwal, IRS(IT-93072), CIT(DI3), ITAT, New Delhi to retire from government service with effect from 15.07.2016 (AN).
The Institute submitted a representation on the subject ‘Criterion for selection of Cost Auditors in PSUs’ to the Director General, SCOPE with copies marked to Chief Vigilance Commissioner, Secretary-MCA and Department of Public Enterprises and subsequently held a meeting of President with the DG-SCOPE, SCOPE on the matter.
Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 3 Dated: 02.07.2016 As you may be kindly aware that an ‘Ind AS Transition Facilitation Group’ (ITFG) of Ind AS (IFRS) Implementation Committee has been constituted by APEX body of Chartered Accountants for providing clarifications on timely basis on various issues related to the applicability and /or […]
In the case of M/s Quality Fabricators and Erectors Vs. The Deputy Director, DGCEI, Zonal Unit Mumbai and Others, it was held that in case of non payment of service tax by the assessee, the notices for recovery cannot be issued to assessee’s debtors unless the liability has been crystallised.
