CMA

Presentations on Standards on Cost Auditing: SCA 104

Goods and Services Tax - Presentation on Standard on Cost Auditing Knowledge of Business, its processes and the Business Envirnment (SCA 104)- An auditor needs to understand the clients business before audit of cost statements. [Current Business scenario, Nature of Business, Product Portfolio, Raw Material Prices Global impact etc., whether it is part of any regu...

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Presentations on Standards on Cost Auditing: SCA 103

Goods and Services Tax - Presentation on Standard on Cost Auditing- Overall Objectives of the Independent Cost Auditor and the Conduct of an Audit in Accordance with Cost Auditing Standards (SCA 103)...

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Presentations on Standards on Cost Auditing: SCA 102

Goods and Services Tax - Presentation on Standard on Cost Auditing Cost Audit Documentation (SCA 102)- Documentation is necessary to have proper evidence that the audit was planned and performed in accordance with SCAs and applicable legal & regulatory requirements. Cost auditor should document all matters, important in providing evidence to support the opinio...

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Presentations on Standards on Cost Auditing: SCA 101

Goods and Services Tax - Presentation on Standard on Cost Auditing Planning an Audit of Cost Statements (SCA 101)- Planning an audit of cost statements and records is considered necessary to ensure achievement of audit objectives with available resources and securing coordination with the auditee....

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CMA institute suggests inclusion of Cost Accountant in definition of Accountant U/s. 288(2) of Income Tax Act, 1961

Goods and Services Tax - Institute of Cost Accountants of India has submitted suggestions on New Direct Tax Law on 23rd May 2018 to Finance Minister Shri Piyush Goyal and suggested Inclusion Of Cost Accountants Under The Definition Of Accountant U/S 288(2) Of Income Tax Act, 1961. ...

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Guidance Note on Annual Return of GST

Goods and Services Tax - Guidance Note On Annual Return Of GST by Institute of Cost Accountants of India Containing Overview of Annual GST Returns, Prerequisites / Check List for filing of Annual GST Returns, Detailed Analysis of Annual GST Return Format GSTR-9, Suggested Reconciliation Formats, Due Dates of GST Return Filing, Notified Formats of Annual Return- (...

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GST Notifications & Circulars from 01.07.2017 to 30.06.2018

Goods and Services Tax - Compilation Of GST Notifications And Circulars For 1st Year Of GST (1st July, 2017 To 30th June, 2018) by The Institute of Cost Accountants of India containing CGST Notifications, CGST Rate Notifications, IGST Notifications, IGST Rate Notifications and GST Circulars. The introduction of GST in India has been a journey in which the Governm...

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ICMAI increases minimum stipend for Practical Training

Goods and Services Tax - Institute Of Cost Accountants Of India Revises Minimum Stipend for the Practical Training from Corporate/Organization effective from 1st October, 2018 onwards vide Circular Ref. No.: DOS/8/09/2018-19   September 10, 2018 Revision in Minimum Stipend for the Practical Training from Corporate/Organization As approved by the Council in its ...

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Advisory on Filing of Cost Audit Report for year 2017-18

Goods and Services Tax - The companies which produce products covered under excise even after July 1st, 2017 will continue to furnish the information in the same format provided by the Companies (Cost Records and Audit) Amendment Rules, 2017. The companies having their products or services covered under GST may follow the guidance provided in this advisory....

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CMAs should ensure delivery of Quality Product & Services at a competitive price: President

Goods and Services Tax - President of India inaugurates platinum jubilee celebrations of Institute of Cost Accountants of India; says Cost Accountants should ensure that products and services are delivered at a competitive price but without compromising on quality The President of India, Shri Ram Nath Kovind, inaugurated the platinum jubilee celebrations of the I...

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Cost Accountants in practice cannot work as MD in a company

Ashok B. Nawal Vs ICWAI (Appellate Authority) - It was clear that despite knowing the fact that Managing Director (MD) was not allowed under the CWA Act, the Respondent had accepted the position of MD and also protecting the same. ...

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CAs lost battle against CMAs on Co-Operative Society Audit issue

Karnataka State Chartered Accountants Association, Bangalore & Ors. Vs The State of Karnataka, Department of Co-operation & Ors. (Karnataka High Court) - It is the case of the petitioners that succumbing to the pressure of lobbying and political pressure, brought by the members of the Cost Accountants fraternity, the State Legislature sought to bring a further amendment to Section 63 of the KCS Act, by Act no. 35 of 2014....

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HC Order allowing CA, CMA and CS to appear before VAT Authorities

Tax Lawyers Association Lko.Throu General Secy.& Anr. Vs State Of U.P. Thru. Prin. Secy.Tax & Registration U.P.Lko.& Ors (Allahabad High Court) - the writ petition, which has been admitted by an order passed the Division Bench on 6 August 2014, there is a challenge to the validity of Rule 73 of the U.P. Value Added Tax Rules, 2008 on the ground that they are ultra vires the provisions of the U.P. Value Added Tax Act, 2008 and the Advocates A...

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80 Vacancy with MCA for CA, CS and CMA

No3A-45011/15/2018-Admn.1 - (11/07/2018) - Ministry proposes to engage a total number of 80 Young Professionals (41 Chartered Accountants/Cost Accountants and 39 Company Secretaries) at different places as indicated at enclosed Annexure....

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MCA amends notification No. S.O. 1693 (E) dated 3rd October, 2007

Notification No. S.O. 3297(E) - (12/10/2017) - In exercise of the powers conferred by section 29A of the Cost and Works Accountants Act, 1959 (23 of 1959), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Corporate Affairs, vide number S.O. 1693 (E) dated the 3r...

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Reg. Committee to dispose disciplinary cases in Profession Institutes

No.1-CA(10)/199/2017 - (19/04/2017) - The Government, in supersession of its earlier Order dated 27th March, 2017 has issued a revised Order dated 10th April, 2017 amplifying the Terms of Reference of the High Level Committee to look into issues related to disposal of the disciplinary cases in the professional Institutes....

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Change in Constitution of Appellate Authority under CA, CS, CMA Laws

Notification No. G.S.R. 1130(E) - (13/12/2016) - Central Govt makes further amendments in notification of Govt of India by which it notified Constitution of Appellate Authority under CA, CS & CMA Laws...

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Constitution of Appellate Authority under CA, CS & CMA Laws

G.S.R. 835(E) - (03/11/2015) - In exercise of the powers conferred by sub-section (1) of Section 22A of the Chartered Accountants Act, 1949 (38 of 1949), Section 22A of the Cost and Works Accountants Act, 1959 (23 of 1959) and Section 22A of the Company Secretaries Act, 1980 (56 of 1980)...

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Recent Posts in "CMA"

Guidance Note on Annual Return of GST

Guidance Note On Annual Return Of GST by Institute of Cost Accountants of India Containing Overview of Annual GST Returns, Prerequisites / Check List for filing of Annual GST Returns, Detailed Analysis of Annual GST Return Format GSTR-9, Suggested Reconciliation Formats, Due Dates of GST Return Filing, Notified Formats of Annual Return- (...

Read More

GST Notifications & Circulars from 01.07.2017 to 30.06.2018

Compilation Of GST Notifications And Circulars For 1st Year Of GST (1st July, 2017 To 30th June, 2018) by The Institute of Cost Accountants of India containing CGST Notifications, CGST Rate Notifications, IGST Notifications, IGST Rate Notifications and GST Circulars. The introduction of GST in India has been a journey in which the Governm...

Read More
Posted Under: CA, CS, CMA |

Cost Accountants in practice cannot work as MD in a company

Ashok B. Nawal Vs ICWAI (Appellate Authority)

It was clear that despite knowing the fact that Managing Director (MD) was not allowed under the CWA Act, the Respondent had accepted the position of MD and also protecting the same. ...

Read More

ICMAI increases minimum stipend for Practical Training

Institute Of Cost Accountants Of India Revises Minimum Stipend for the Practical Training from Corporate/Organization effective from 1st October, 2018 onwards vide Circular Ref. No.: DOS/8/09/2018-19   September 10, 2018 Revision in Minimum Stipend for the Practical Training from Corporate/Organization As approved by the Council in its ...

Read More
Posted Under: CA, CS, CMA |

Advisory on Filing of Cost Audit Report for year 2017-18

The companies which produce products covered under excise even after July 1st, 2017 will continue to furnish the information in the same format provided by the Companies (Cost Records and Audit) Amendment Rules, 2017. The companies having their products or services covered under GST may follow the guidance provided in this advisory....

Read More
Posted Under: CA, CS, CMA |

CMAs should ensure delivery of Quality Product & Services at a competitive price: President

President of India inaugurates platinum jubilee celebrations of Institute of Cost Accountants of India; says Cost Accountants should ensure that products and services are delivered at a competitive price but without compromising on quality The President of India, Shri Ram Nath Kovind, inaugurated the platinum jubilee celebrations of the I...

Read More
Posted Under: CA, CS, CMA |

80 Vacancy with MCA for CA, CS and CMA

No3A-45011/15/2018-Admn.1 (11/07/2018)

Ministry proposes to engage a total number of 80 Young Professionals (41 Chartered Accountants/Cost Accountants and 39 Company Secretaries) at different places as indicated at enclosed Annexure....

Read More

Allow CMAs to do Valuation under Section 56 r.w. Rule 11UA

Income Tax Rule 11UA deals with Valuation of jewellery, archaeological collections and shares and securities for the purpose of Section 56. Erstwhile as per Clause (b) of Sub-Rule 2 of Rule 11UA earlier merchant banker and Chartered Accountant were allowed to do valuation of unquoted equity shares under Discounted Free Cash Flow method bu...

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Posted Under: CA, CS, CMA |

Presentations on Standards on Cost Auditing: SCA 104

Presentation on Standard on Cost Auditing Knowledge of Business, its processes and the Business Envirnment (SCA 104)- An auditor needs to understand the clients business before audit of cost statements. [Current Business scenario, Nature of Business, Product Portfolio, Raw Material Prices Global impact etc., whether it is part of any regu...

Read More
Posted Under: CA, CS, CMA |

Presentations on Standards on Cost Auditing: SCA 103

Presentation on Standard on Cost Auditing- Overall Objectives of the Independent Cost Auditor and the Conduct of an Audit in Accordance with Cost Auditing Standards (SCA 103)...

Read More
Posted Under: CA, CS, CMA |

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