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Social Audit Standard and Scope of SAS Framework

July 21, 2023 2241 Views 1 comment Print

Social Audit Framework developed by ICAI provides a social auditor guidance for conducting a social audit. The social audit framework is applicable from the date of its hosting on ICAI website. Social Audit Framework does not cover any elements of a financial audit or review, which may be covered by relevant auditing/review standards.

‘Kandi Ravo’ a tobacco waste to be classified under tariff entry 24013000

July 21, 2023 1278 Views 0 comment Print

AAR ruled that ‘Kandi Ravo’ the unmanufactured tobacco, made by crushing tobacco refuse and mixing it with natural clay & water is appropriately classifiable under tariff entry 24013000 and the assessee is liable to pay 28% GST on supply of such goods.

GST refund related clarifications in 50th GST council meeting

July 21, 2023 2352 Views 0 comment Print

Explore the crucial clarifications on GST refunds from the 50th GST Council meeting. Navigate updates on accumulated input tax credit, undertaking in FORM RFD 01, and determination of adjusted total turnover. Gain insights into admissibility of refunds for exporters complying with rule 96A. Stay informed on the latest developments to streamline your GST refund claims.

End to End Taxation on Shares [SIMPLIFIED]

July 21, 2023 2589 Views 1 comment Print

Unlock the complexities of Income Tax on Shares in this comprehensive guide. Explore classifications, Capital Gains, PGBP, and navigate 44AD, 44AB, and Regular provisions. Understand taxation on listed shares for both delivery-based and non-delivery-based trading. Gain practical insights on reporting, tax rates, and effective strategies for profits and losses.

How to Deal with ITC Mismatches between GSTR 3B vs GSTR 2A for the Period 09.10.2019 to 31.12.2021 – A GUIDE

July 21, 2023 11016 Views 0 comment Print

Navigate ITC mismatches between GSTR 3B and GSTR 2A from 09.10.2019 to 31.12.2021 with CBICs Circular No. 193/05/2023-GST. Explore rule 36(4) changes, limits on ITC availment, and case laws. Get insights on dealing with excess ITC and necessary certificates. Stay compliant with the latest guidelines

Adjudication Penalty for Late Filing of Financial Statement and Annual Return

July 21, 2023 4467 Views 0 comment Print

According to Section 137(1) (Copy of financial statement to be filed with Registrar) of the Company Act, 2013, A copy of the financial statements, including consolidated financial statement duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days of the date of annual general meeting.

Adjudication Penalty For Non-Appointment of Company Secretary

July 21, 2023 2484 Views 0 comment Print

Every listed company and every other public company having a paid-up share capital of Five crore rupees or more shall have whole-time key managerial personnel. And Further this Limit Increased to Ten Crore or More & Applicable in respect of FY Commencing on or after 01-04-2020.

Legal remedies if a party files a wrong affidavit

July 21, 2023 20226 Views 1 comment Print

Discover legal remedies when a party files a wrong affidavit. Explore options like motions for correction or striking out, contempt proceedings, and civil actions for damages. Case laws such as Ram Saran Hansraj v. Dharanidhar Barman and M.G. Agarwal v. Hussainbhai provide insights. Uphold truth in judicial proceedings.

Demergers and Tax Consequences in Indian Contacts

July 21, 2023 40134 Views 1 comment Print

Explore demergers and tax consequences in Indian corporate context. Understand the demerger process, rationales, modes, and forms. Learn about the advantages and tax effects, including capital gains, written down value, unabsorbed business losses, GST, and stamp duty implications. Navigate through the complexities of demerger under the Companies Act and Income Tax Act for informed corporate decisions.

Get What You Need on Easy EMIs, Apply for Bajaj Finserv EMI Network Card Today!

July 21, 2023 756 Views 1 comment Print

Bajaj Finserv EMI Network Card is a simple financing solution that lets you make online and offline purchases on easy, affordable No Cost EMIs. So, rather than taking a loan or breaking into investments to make the payment upfront, you can convert your spends into easy EMIs.

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