Daily Archives: May 4, 2020

Issuance of Invoice in Case of Continuous Supply of Services

Timelines for issuance of tax invoice in case of “continuous supply of services” which is essentially driven by contract (see section 2(33) and 31(5)) has not been extended by notification no. 35/2020-Central tax dated 3rd April’2020 issued in exercise of … Continue reading

Posted in GST, GST Update |

Internal Financial Control Exemption to Private Companies

As per provisions of Section 143(3)(i) of Companies Act,2013 (hereinafter referred as CA 2013), The Auditor Report shall state whether the Company has adequate IFCs with reference to financial statements in place and the operating effectiveness of such controls. For … Continue reading

Posted in Audit & Assurance |

Remote Auditing

The general framework for auditing is changing from planning the audit to review procedures. Now entire audit is carried out using remote techniques. This is done completely without the physical presence of the auditor on site. Remote auditing provides major … Continue reading

Posted in Audit & Assurance |