How will Inter State Transactions be affected with the advent of GST? This is the basic question which is hovering over common man’s mindset these days. Will the situation be favourable or more adverse? Whether Rate to be increased/ decreased? Who will levy the tax- Centre or State? Will State’s Revenues be reduced????? This article […]
Recently, I was invited to a live debate in one of the Tamil Television channels on a statement reportedly made by CA Sri S.Gurumurthy, a great economic thinker, an eminent columnist and strategy adviser to several leading business houses in the country. He, in his speech at VIT on the Indian budget had opined, among other things, that if only the higher denomination currencies (Rs. 500/- and Rs. 1000/-) are withdrawn from the circulation and replaced by Rs. 100 notes, then half of the black money problem can be solved.
Draft Interpretation published by the IFRS Interpretations Committee for comment only. Comments on the Draft Interpretation need to be received by December 21, 2015. The International Accounting Standards Board’s IFRS Interpretations Committee (‘Interpretations Committee’) published for public comment a proposed Interpretation of Standards, designed to address diversity in how the Standard is applied in practice. […]
The last date for submission of audit report u/s 61 of the MVAT Act 2002, for the period 201415 is 15th January 2016. After uploading their audit reports for the period 2014-15, the dealers shall submit the following documents
Two Writ petitions (one against those SIRC members seeking elections to Central Council and another against those SIRC members seeking re-election to SIRC) have been filed by a Chennai based senior Chartered Accountant Mr P S Prabhakar, with a prayer that the validity of the nominations of such members, all of whom are collectively responsible […]
Launching of Gold Schemes on 5 November, 2015 is a great Pre Diwali Gift to all Indians by our Prime Minister Shri Narendra Modi. It’s ‘sone pe suhaga’ for our country. If India has 20000 tonnes of gold, worth Rs. 55 Lakhs Crores, why it should import gold and rely on other countries? Now no […]
The Business Responsibility Report has been outlined as a tool to help companies understand the principles and core elements of responsible business practices and start implementing improvements which reflect their adoption in the manner the company undertakes its business.
Finance Act 2015 had provided provision for levy and collection of Swachh Bharat Cess (SBC) under section 119 of the Finance Act, 2015 at a rate not exceeding two percent on the value of services. The levy was to become effective from the date to be notified by the Government. The objective of behind introducing SBC was to fund for Government’s flagship program of Swachh Bharat. Incidentally,
Infinity Infotech Parks Limited vs. DCIT (ITAT Kolkata) Revision u/s 263 is duly authorized where there is a mistake apparent from the records which itself proves that the order passed on this issue by the Assessing Officer was erroneous as well as prejudicial to the interest of the revenue.
Delhi High Court held In the case of CIT vs. Modi Rubber Ltd. that in present case, it is clear that the two Banbury mixers have been described by the Assessee itself as equipment used for mixing natural rubber, synthetic rubber, carbon black, chemicals and other raw materials
