In this Exposure Draft, IASB proposes to make minor amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to clarify the definition of ‘material’.
In this Exposure Draft, the IASB proposes to amend IAS 8. With the aim to help entities distinguish accounting policies from accounting estimates. More specifically, the proposed amendments would clarify:
This Consultation Paper discusses two potential approaches for recognition of revenue for transactions that have performance obligations or stipulations:
It has come to the notice of the Board that official cars being used by the officers posted in the various field units/Zones are using the State Emblem without any authority and in gross violation of the statutory provisions.
The sale of a 98 per cent stake in Essar Oil to Rosneft and the Trafigura-United Capital Partners (UCP) consortium. Of the total deal amount of $12.9 billion, about $5 billion debt held at group level will get settled through this transaction and another $6 billion debt of Essar Oil will be taken by Rosneft consortium,
FM: To reduce tax slabs in case of GST, we have to become revenue neutral plus; Inspects the Passing-out Parade of 67th Batch of IRS(C&CE) and delivers Valedictory Address; Calls for fair implementation of tax laws; Releases NACIN Coffee Table Book and Year Book on its Founding Day. The Union Minister of Finance and Corporate […]
Commissioner of Commercial Tax in every State carry out a sample study of 200 cases of taxpayers who have not filed 3B return and ask them the reasons for not filing, so that we would get to know some underlying cause.
IFCI Ltd. was set up in 1948 as first Development Financial Institution of the country named as The Industrial Finance Corporation of India, a Statutory Corporation to provide medium and long term finance to industry. After repeal of IFCI Act in 1993, IFCI became a Public Limited Company registered under the Companies Act, 1956
The insurers carrying out Life, General and Health insurance business need to value their insurance business liability every year by Appointed Actuary of the insurer. This is also applicable to the Reinsurers operating reinsurance business. As per the existing Assets, Liabilities and Solvency Margin Regulations the Appointed Actuaries of the insurers are solely responsible for the insurance liability number incorporated in the Balance Sheet.
1. Due individual freelancers working for US client require GST Registration? Yes, as it is a interstate supply, registration is compulsory under section 24(i) of CGST Act, 2017 2. Service provided, GST on which is to be paid by receiver under RCM in which column this amount to be reported in GSTR-3B? You are not […]
