Accounting Standards (AS) 13- Accounting for Investments deals with accounting for investments in the financial statements of enterprises and related disclosure requirements.
Accounting Standard (AS) 7 Construction Contracts prescribe the accounting treatment of revenue and costs associated with construction contracts. Because of the nature of the activity undertaken in construction contracts, the date at which the contract activity is entered into and the date when the activity is completed usually fall into different accounting periods.
Accounting Standard (AS) 3 Cash Flow Statements deals with the provision of information about the historical changes in cash and cash equivalents of an enterprise by means of a cash flow statement which classifies cash flows during the period from operating, investing and financing activities.
The Finance Companies/Finance Units may draw reference to sub-regulation (3) of regulation 4 on Liquidity Coverage Ratio (LCR), of the International Financial Services Centres Authority (Finance Company) Regulations, 2021 (herein referred to as ‘Regulations’) dated March 25, 2021 issued by the Authority.
The Covid-19 pandemic has posed unique challenges to the world. Prisons and Correctional facilities have also been affected by the pandemic. Appropriate measures have been taken by Prison authorities to check the spread of Covid-19 in Prisons. However, there is a need to continue to monitor the situation rigorously without letting the guard down and provide care and support to inmates and prison staff.
Nilkamal Limited Vs Commissioner of G.S.T. and Central Excise (CESTAT Chennai) The Revenue having collected per force the Service Tax along with interest, the appellant is pushed into a situation where its refund claim is denied and even the credit of Service Tax so paid is also not allowed to be availed, with the introduction […]
SB ORDER No. 11/2021 F.No. 107-01/2020-SB Government of India Ministry of Communications Department of Posts (F S Division) Dak Bhawan, Sansad Marg, NewDelhi-110001, Dated: 21.06.2021 To, All Head of Circles/Regions Subject: – Regarding re-investment of maturity value of National (Small) Savings Scheme in the same or in other National (Small) Savings Schemes. Sir/Madam, This office […]
CBIC notifies Notification No. 29/2021-Customs (N.T./CAA/DRI), Dated 23.06.2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence) New Delhi Notification No. 29/2021-Customs (N.T./CAA/DRI) | Dated 23rd June, 2021 S.O. 2483(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette […]
Amit Mitra say that What pains me the most is the fact that GST Council meetings have become acrimonious, vexing and almost toxic with erosion of mutual trust that had held fast between States and the Centre since the inception of the GST Council.
DCIT Vs Monster.Com (India) Private Limited (ITAT Hyderabad) In the assessee’s own case the Tribunal observed that the assessee followed appropriate revenue recognition method of accounting and thus the income declared on proportional receipt basis cannot be questioned. This order was followed by the ITAT in the assessee’s own case in the A.Ys 2007-08 to […]
