CA Deepak Rathore

GST: Foreign Exchange Conversion Service

Goods and Services Tax - As per GST law, A person supplying the services of exchange of foreign currency may exercise option to ascertain value in terms of 32(2)b for a financial Year. In service related to supply of foreign currency, including money changing, the problem of valuation always arise, therefore Govt. has prescribed the consideration should be taken...

Read More

IND AS 116: Changes and Practical Aspects for Lessee Perspective

Goods and Services Tax - The new standard will require lessees to recognize most leases on their balance sheets. Lessees will use a single accounting model for all leases, with limited exemptions. Ind AS 116 is likely to be effective for accounting periods beginning on or after 1 April 2019....

Read More

Prompt Corrective Action (PCA) : A Reality Check

Goods and Services Tax - The Reserve Bank of India (RBI) has come out with a revised prompt corrective action (PCA) framework for banks, spelling out certain thresholds, the breach of which could invite resolutions such as a merger with another bank or even shutting down of the bank....

Read More

Simple way to understand – Financial Asset and Financial Liability

Goods and Services Tax - As we know, Companies is required to comply with IND As Provisions and make the opening Ind-AS balance sheet on the date of transition. This is the starting point for adoption of Ind-AS. For this purpose, an entity should, in its opening Ind-AS Balance Sheet:...

Read More

RBI Clarification on Income Recognition on S4A & SDR Advances

Goods and Services Tax - RBI clarified Schemes for Stressed Assets-Revisions, that the standstill clause only applies to asset clarification and banks shall not recognize income on accrual basis if the interest is not serviced within 90 days from the due date....

Read More
Sorry No Post Found
Sorry No Post Found
Sorry No Post Found

Recent Posts in "CA Deepak Rathore"

GST: Foreign Exchange Conversion Service

As per GST law, A person supplying the services of exchange of foreign currency may exercise option to ascertain value in terms of 32(2)b for a financial Year. In service related to supply of foreign currency, including money changing, the problem of valuation always arise, therefore Govt. has prescribed the consideration should be taken...

Read More
Posted Under: Fema / RBI |

IND AS 116: Changes and Practical Aspects for Lessee Perspective

The new standard will require lessees to recognize most leases on their balance sheets. Lessees will use a single accounting model for all leases, with limited exemptions. Ind AS 116 is likely to be effective for accounting periods beginning on or after 1 April 2019....

Read More
Posted Under: Fema / RBI |

Prompt Corrective Action (PCA) : A Reality Check

The Reserve Bank of India (RBI) has come out with a revised prompt corrective action (PCA) framework for banks, spelling out certain thresholds, the breach of which could invite resolutions such as a merger with another bank or even shutting down of the bank....

Read More
Posted Under: Fema / RBI |

Simple way to understand – Financial Asset and Financial Liability

As we know, Companies is required to comply with IND As Provisions and make the opening Ind-AS balance sheet on the date of transition. This is the starting point for adoption of Ind-AS. For this purpose, an entity should, in its opening Ind-AS Balance Sheet:...

Read More
Posted Under: Fema / RBI |

RBI Clarification on Income Recognition on S4A & SDR Advances

RBI clarified Schemes for Stressed Assets-Revisions, that the standstill clause only applies to asset clarification and banks shall not recognize income on accrual basis if the interest is not serviced within 90 days from the due date....

Read More
Posted Under: Fema / RBI |

GST: Chaos in Single Rate

It's a single indirect tax Rate that will subsume several indirect state and federal taxes such as service tax rate, value added tax (VAT) and excise duty, and different state taxes, central surcharges, entertainment tax, luxury tax and a slew of related levies by local bodies....

Read More
Posted Under: Fema / RBI | ,

Budget 2016: 27 Key Changes in Taxation

1. 1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh. 2. Income tax surcharge for having income Rs. more than 1 crore increased to 15% (previously 12%) 3. Deduction u/s 80GG for RENT payment increased upto Rs. 5,000/- per month (previously Rs.2,000/-)...

Read More
Posted Under: Fema / RBI | ,

Summary- Guidance Note on Audit of Internal Financial Controls over Financial Reporting

Clause (e) of Sub-section 5 of Section 134 explains the meaning of the term, internal financial controls as the policies and procedures adopted by the company for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds a...

Read More
Posted Under: Fema / RBI |

Simple way to understand Substantially Interested Public Companies

Under Section 2(18) of the Income tax a company is said to be a company in which the public are substantially interested in the following circumstances: (a) if it is a company owned by the Government or the Reserve Bank of India or in which not less than forty per cent of the shares are held (whether singly or taken together) by the Gover...

Read More
Posted Under: Fema / RBI |

Practical Analysis of Rule 6 of Cenvat Credit Rule

The CENVAT credit shall not be allowed on such quantity of input or input service which is used in the manufacture of exempted goods or for provision of exempted services, except in the circumstances mentioned in sub-rule (2)...

Read More
Posted Under: Fema / RBI |

Browse All Categories

CA, CS, CMA (5,816)
Company Law (7,813)
Custom Duty (8,847)
DGFT (4,672)
Excise Duty (4,563)
Fema / RBI (4,902)
Finance (5,287)
Income Tax (38,979)
SEBI (4,219)
Service Tax (3,825)

Search Posts by Date

December 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031