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Statutory Audit Report Format for Private Limited Companies

June 5, 2019 634374 Views 34 comments Print

Draft Statutory Audit Report Format for F.Y. 2018-19 for Private Limited Companies. Note : The items shown with Red Font are possible alternative reporting based on client circumstances. Kindly apply your judgement and professional skepticism in using the appropriate reporting. INDEPENDENT AUDITORS’ REPORT To The Members of ________________ Private Limited Report on the audit of […]

SEBI (Depositories and Participants) (Amendment) Regulations, 2019

June 4, 2019 2040 Views 0 comment Print

Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette.

RBI releases report on Benchmarking India’s Payment Systems

June 4, 2019 705 Views 0 comment Print

Date : Jun 04, 2019 RBI releases report on Benchmarking India’s Payment Systems The Reserve Bank of India today released a report on “Benchmarking India’s Payment Systems” which provides a comparative position of the payment system ecosystem in India relative to comparable payment systems and usage trends in other major countries. It may be recalled that […]

Revenue share based licence fee is allowable expense U/s. 37(1)

June 4, 2019 7935 Views 0 comment Print

Revenue share based licence fee held to be allowable expense under section 37(1), merely because the Revenue has not accepted the decision of the Hon’ble Delhi High Court and an SLP has been filed against the said order, the same cannot be a ground to disallow the expenditure unless and until the same is reversed or stayed by the Supreme Court

Supply of packed Food items/Drinks & cooked item at railway platforms is Supply of Services

June 3, 2019 2982 Views 0 comment Print

In re Rajeev Kumar Garg (GST AAR Uttar Pradesh) (1) Whether supply of food items at GMUs (General Minor Units) at Railway Platforms which include only counter sale of packed food items, drinks and cooked item shall be treated as ‘Sale of Goods’ or ‘Sale of Service’? Ans 1:– Supply of Food items at GMUs […]

Assessment in the name of non-existent company was invalid

June 3, 2019 2640 Views 0 comment Print

he assessment order passed in the name of non-existent entity, i.e., Amdocs Business Services (P) Ltd. was invalid and subsequent proceedings arising therefrom were vitiated. The assessment made in the name of non-existent company was, therefore, invalid and unsustainable in the eye of law.

RFP to Appoint Audit firm to conduct Internal Audit & ICFR of BOB

June 2, 2019 1728 Views 0 comment Print

Request for Proposal (RFP) For Appointment of Audit firm for conducting Internal Audit & ICFR of BOB Financial Solutions Limited 1.1 Invitation for Tender offers BOB Financial Solutions Limited [Formerly known as Bobcards Ltd.] invites sealed tender offers (Eligibility, Technical bid and Commercial bid) from eligible, reputed entities for RFP for Appointment of Audit firm […]

GST Revenue collection for May 2019 shows Growth of 6.67%

June 2, 2019 1188 Views 0 comment Print

The total gross GST revenue collected in the month of May, 2019 is Rs 1,00,289 crore of which CGST is Rs 17,811 crore, SGST is Rs 24,462 crore, IGST is Rs 49,891 crore (including Rs 24,875 crore collected on imports) and Cess is Rs 8,125 crore (including Rs 953 crore collected on imports). The total number of GSTR 3B Returns filed for the month of April up to 31st May, 2019 is 72.45 lakh.

Opening /Transfer of place of business- Revised Guidelines for RRBs

May 31, 2019 2922 Views 0 comment Print

‘Banking Outlet’ for a Regional Rural Bank is a fixed point service delivery unit, manned by either bank’s staff or its Business Correspondent where services of acceptance of deposits, encashment of cheques/ cash withdrawal or lending of money are provided for a minimum of four hours per day for at least five days a week.

Kerala Flood Cess levy and collection postponed to 1st July 2019

May 31, 2019 1296 Views 0 comment Print

The effective date of implementation of Kerala Flood Cess is from 1st July 2019 Government have decided to appoint the date of levy and collection of the Kerala Flood Cess with effect from the 1st day of July,2019 instead of earlier decided 1st June 2019. GOVERNMENT OF KERALA Taxes (B) Department NOTIFICATION G.O.(P) No.81/2019/TAXES       Dated, […]

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