RBI Restricts Round Tripping Through Overseas Direct Investment

Reserve Bank of India (RBI) regulates overseas direct investment (ODI) made by Indian entities and resident individuals in Joint ventures (JV) and Wholly owned subsidiaries (WOS) outside India pursuant to Foreign Exchange Management (Transfer or Issue of any Foreign Security)... Read More →

Posted in Regulatory |

Delhi High Court Allowing Petitioner to Carry Forward Transitional Credit Despite Retrospective Amendment.

Recent ruling of Delhi High Court in the case of SKH Sheet Metals Components (W.P. (C) 13151/2019) allowing petitioner to carry forward Transitional  Credits  by 30th June, 2020 despite Retrospective Amendment Relevant Legal Provisions: Taxpayers were mandated to file TRAN-1... Read More →

Posted in GST |

Role of Internal Audit in Business Resilience during COVID-19

There is no doubt that businesses are hugely hit by the impact of covid-19. Risk Management and recommending controls over high risk areas is the expertise of internal audit teams. In here there are various ways through which internal audit... Read More →

Posted in Audit & Assurance |

Business Continuity And Managing Risk In COVID-19 Era

There is no doubt that the pandemic covid 19 has impacted the economy at the highest level. Almost all the industries have faced business operation issues due to lockdown and Issues like supply chain disruption, labor unavailability, high fixed cost... Read More →

Posted in Audit & Assurance |

Going Concern – Key Considerations For Auditors Amid COVID-19

The Board of Directors of every company are required to make a statement in the Directors’ Responsibility Statement referred to in Section 134(5) of the Companies Act, 2013 that the annual accounts are prepared on a going concern basis i.e.... Read More →

Posted in Audit & Assurance |