Delhi HC held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. Thus, non-checking of the same would be gross negligence on his part while performing professional duties.Accordingly, he is liable to face the charge of professional misconduct under clause 7 of the First Schedule of the CA Act, 1949.
This article will provide you information with respect to following questions for transitional CENVAT credit under GST 1) Who may transfer CENVAT credit under GST? 2) How CENVAT Credit shall be transferred under GST? 3) What are the eligible Duties and Taxes for transferring under GST?
GST is pegged to be one of the biggest game changers for Indian economy, making India one unified common market. The April 1, 2017, rollout deadline for the new indirect tax regime looks tough but not impossible and both the states and Centre are ready in terms of preparedness. It will subsume all the taxes currently under the indirect tax basket, such as Central Excise Duty, Service Tax, VAT, CST, Entry Tax, and Luxury Tax and so on.
GST has received a green signal and is soon be a part of almost all day to day transactions. The first step of compliance under GST regime would be REGISTRATION under the CGST and SGST Act. A person liable to be registered shall get himself registered under the SGST Act of the respective states in which he carries on his business and also under CGST Act. Registration shall be obtained within 30 days from the date it becomes liable to be registered.
As per section 2(56) of GST Act, ISD means an office of the supplier of goods and / or services which receives tax invoices issued under section 23 towards receipt of input services and issues tax invoice or such other document as prescribed for the purposes of distributing the credit of CGST (SGST in State Acts) and / or IGST paid on the said services to a supplier of taxable goods and / or services having same PAN as that of the office referred to above;
After passing CA final examinations, one question that gives sleepless nights to many is WHETHER TO GO FOR PRACTICE OR JOB?? Your whole future depends upon making the right choice. In this article, I will try to provide you with few factors for comparison, so that you can make an informed decision for yourself after weighing all the pros and cons of both the options available for you.
A CA may drive rashly and negligently and in the process may kill a human being. This conduct would be an offence, but not a misconduct for the purposes of the Act Similarly , in the instant case , the respondent was acting as an individual in his dealings with the complainant which were purely commercial. While selling the shares held by him the respondent was not acting as a Chartered Accountant. He was not discharging any function in relation to his practice as a Chartered Accountant.
The details of inward supplies added, corrected or deleted by the recipient in his FORM GSTR-2 under sub-section (1) of section 26 orFORMGSTR-4 under section 27 shall be made available to the supplier electronically in FORM GSTR-1A through the Common Portal and such supplier may either accept or reject the modifications made by the recipient and FORMGSTR-1 furnished by the supplier shall stand amended to the extent of modifications accepted by him.
FCA Dinesh Kumar A. What is to be followed by Dealer registered under existing Acts to get GSTIN? B. What is to be followed by new dealer to get GSTIN? C. What is to be followed by Input Service Distributor to get GSTIN? D. What is to be followed by persons required to deduct tax […]
Government is not leaving any stone unturned to roll out the much awaited indirect tax reform from April 1, 2017. In less than a week after the first meeting of GST Council (on September 22-23, 2016), CBEC on September 26, 2016, has unveiled Draft Rules and formats under GST relating to registration, invoice and payment.
