CA, CS, CMA : Explore the latest developments as the Comptroller and Auditor General of India adopts an end-to-end digital framework, delving in...
CA, CS, CMA : भारतीय सीए संस्थान ने २ नवंबर २०२२ को वर्ष २०२१-२२...
CA, CS, CMA : A CA firm who applied for empanelment with CAG for Financial Year 2012-13 can check the status of his Empanelment & Audit work all...
Goods and Services Tax : CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointm...
Goods and Services Tax : In this series, one of the important areas covered is CAG Reports. There is a general tendency to look at CAG Report as an additio...
CA, CS, CMA : Learn about the ICAIs opening of an online window to update branch details for empanelment applications. Deadline: 08 July 2024....
CA, CS, CMA : Provisional empanelment status of CA firms along with provisional point score for year 2024-2025 will be available on CAG website ...
CA, CS, CMA : Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor Gener...
CA, CS, CMA : Apply for Chartered Accountant firms/LLPs empanelment with CAG India for 2024-2025. Learn about the online application process, ke...
CA, CS, CMA : Stay informed about the Office of C&AG's new audit criteria for Chartered Accountant firms/LLP in 2024-2025. Learn about location-...
Income Tax : It seems CAs are under attack from all parts of the world for good or not so good reasons. Recently CAG in its report Criticised C...
Corporate Law : The Delhi High Court has dismissed two writ petitions filed by N.Gopalaswami (Former CEC) & others and Manohar Lal Sharma, Advocat...
Finance : The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Uni...
CA, CS, CMA : (1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date...
Corporate Law : This office has taken steps to treat the applications as abandoned in which no reply to examination report containing office objec...
Finance : Whether the Company has been listed on the stock exchanges? If yes, the names of the stock exchanges may please be indicated? If s...
Shri Girish Chandra Murmu assumed office as the Comptroller and Auditor General of India here today. He belongs to Indian Administrative Service of Gujrat cadre (1985 batch). Shri Murmu succeeds Shri Rajiv Mehrishi, who demitted office on Friday. Prior to this, Shri Murmu was the first Lieutenant Governor of Union Territory of Jammu & Kashmir.
CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointment of CAG is done by President of India under Article 148. President of India is the Executive head of the Union of India. Audit is conducted by CAG under section 18 of the Comptroller & Auditor General’s (DPC) Act 1971 and the fees are being charged to the service recipient.
Report No.11 of 2019 – Compliance Audit of Union Government, Department of Revenue (Indirect Taxes – Goods and Services Tax) This is the first Audit Report of CAG on Goods and Services Tax (GST), prepared on the basis of audits conducted during the year 2018-19. The Report acknowledges the magnitude of the tax reform that […]
In this series, one of the important areas covered is CAG Reports. There is a general tendency to look at CAG Report as an additional burden but we have to understand that the CAG Report gives lots of insights in the functioning of the department and gives pointers to improve the system.
During FY 2015-16, the ITD had completed 2.57 lakh scrutiny assessments in the units audited as per the audit plan of FY 2016-17, out of which we checked 2.39 lakh cases. Apart from this, we have also audited 0.30 lakh cases completed in the earlier financial years, during FY 2016-17.
Section 16 of CAG’s (DPC) Act, 1971 mandates CAG to audit receipts payable into the Consolidated Fund of India and to satisfy that the rules and procedures are designed to secure an effective check on the assessment
During the financial year 2016-17 the Customs receipts grew by seven percent over the previous financial year and stood at 2,25,370 crore. The ratio of Customs duty collected to GDP was 1.48 percent. Duty foregone on account of export promotion schemes and on commodities was 3,87,539 crore in the financial year 2016-17.
Section 16 of CAG’s (DPC) Act, 1971 mandates CAG to audit receipts payable into consolidated fund of India and to satisfy that the rules and procedures are designed to secure an effective check on the assessment, collection and proper allocation of revenue and are being duly observed.
We conducted a Performance Audit on levy & collection of Service Tax on Entertainment Sector, to seek an assurance regarding adequacy of Service Tax rules and regulations relating to entertainment sector and systems in place to ensure compliance to the same. The. audit was conducted in 17 selected. Commissionerates, including one division and one range in each. Commissionerates and examination of records relating to 307 assessees. The audit covered the three years period from 2013-14. to 2015-16.
Several companies that were having large profit from business and distributing substantial portion of the income to their shareholders as dividend, were reducing their tax liability by availing various deductions and exemptions available in the Act.
