We all are reading various media reports with catchy headlines like ‘Companies are moving out china and India will be seizing this opportunity.’ Or ‘200+US companies are seeking to move manufacturing out of China’. And it makes us happy that India will be the ultimate beneficiary of this covid19 pandemic.
When I am writing this article India has approx. 38,000 cases out of which 10,000 recovered. India has also conducted 9.76 Lakhs test as of now i.e. 708 per 1 million population. Migrant workers are moving to their hometowns and some of them have tested positive for Covid-19 in various states.
Value for the purpose of payment of GST on Job work: As per the provisions of Section 15 of CGST Act, 2017, the value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.
Traditionally, the internal audit function focused on providing core assurance around business process risk and controls. But, with increasing market volatility and complexity, internal audit is being asked to deliver deeper insights and value beyond assurance, particularly in the areas of strategy execution, emerging risk, and increasing the use of analytics.
