CBIC recently issued two circulars, Circular No. 200/12/2023-GST and Circular No. 201/13/2023-GST, providing clarifications on the rates and classification of certain goods and services based on the recommendations of the GST Council in its 50th meeting held on 11th July 2023.
Article aims to shed light on penalties, deadlines, and implications of late Income Tax Return filing, urging taxpayers to fulfill their obligations promptly to avoid unnecessary financial burdens.
In response to concerns over anti-competitive practices by major tech companies, the Union government has decided to introduce an online audit mechanism under the Goods and Services Tax (GST) system.
This article aims to provide a comprehensive overview of ESG accounting and audit in India, covering the fundamentals, key considerations, and the role of professionals in this field.
In the face of escalating climate change concerns and the imperative to reduce greenhouse gas emissions, carbon accounting has emerged as a crucial tool in India’s journey toward a more sustainable future.
Gain clarity on Input Tax Credit (ITC) differences between GSTR-3B and GSTR-2A for the period 01.04.2019 to 31.12.2021 with guidance from Circular No. 193/05/2023-GST.
CBIC issued Circular No. 199/11/2023-GST to provide clarity on taxability of services rendered by an office of an organization in one state to another office of same organization in a different state.
Uncover insights into common errors in the Company Auditor’s Report Order (CARO) with our comprehensive analysis. Discover the significance of CARO in ensuring transparent corporate reporting and learn how auditors can address errors to maintain credibility. From inadequate compliance to insufficient audit evidence, inaccurate reporting, and non-disclosure of related party transactions, each section provides a deep dive into key challenges auditors face.
An audit is a systematic and independent examination of financial statements, records, and other relevant documentation to provide assurance that they are free from material misstatement. In order to ensure that audits are conducted effectively and efficiently, auditors often use audit checklists and documentation.
Explore the pros and cons of employee moonlighting with our comprehensive guide for employers. Learn about managing risks, fostering a positive work culture, and leveraging the benefits for a motivated and skilled workforce.
