Key Highlights of 2nd Tranche of Stimulus Package by Finance Minister on 14th May, 2020

Key Highlights of 2nd Tranche of Stimulus Package announced by Hon’ble Finance Minister of India Smt. Nirmala Sitharaman dated 14th May 2020. For details, please refer note :Key highlights of 2nd tranche of stimulus package by FM dated 14th May,... Read More →

Posted in Direct Tax, Finance Budget |

ICAI Guidance over “Physical Inventory Verification – Key Audit Considerations amid COVID 19”

Physical verification of inventory is the responsibility of management of the entity. Management is required to establish procedures under which inventory is physically counted at least once a year to ensure existence, condition and support valuation of inventory. Further, the... Read More →

Posted in Audit & Assurance |

Key Highlights of Part of Stimulus Package by Finance Minister Dated 13th May, 2020

Key Highlights of Measures Taken By The Government Of India on 13th May 2020 To Provide Economic Stimulus To The Economy. For details, please refer note: Key highlights of Part of Stimulus Package by FM dated 13 May 2020 Disclaimer: The... Read More →

Posted in Direct Tax, Finance Budget |

GST on Corporate Social Responsibility-A Dilemma

Pandemic of COVID-19 has forced all of us to live in a phase that was neither wished, nor imagined by anyone. Several lifesaving steps be, it nation-wide lockdown, shutting business operations, sealing of the national and international borders or working... Read More →

Posted in GST |

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... Read More →

Posted in GST, GST Update |