Impairment of Assets and Financial Assets

COVID-19 may impact a company’s projected cash flows due to a decrease in demand for its product, supply chain disruptions, or other events. In such situations, a company needs to consider whether the disruption in its business indicates that a... Read More →

Posted in Audit & Assurance |

MSMEs & its recent reforms announced by Finance Minister dated 13.05.2020

A brief Note on Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 and recent reforms announced by Finance Minister dated 13th May 2020. For details, please refer the attached link: MSME & its reforms Disclaimer:- The information contained herein is... Read More →

Posted in Regulatory |

Key Highlights of Measures taken by RBI on 22nd May, 2020

Key Highlights of measures taken by RBI on 22nd May, 2020. For details, please refer the attached document: Key Highlights of Measures taken by RBI on 22 May 2020 Disclaimer:- The information contained herein is in summary form based on Press... Read More →

Posted in Direct Tax, Finance Budget |

Carry Forward of ITC in TRAN-1 by 30th June, 2020

In the case of Brand Equity Treaties Limited vs. Union of India (Delhi High Court), the Hon’ble court has allowed carry forward of ITC in TRAN-1 up to 30.06.2020. However, the retrospective amendment in Section 140 of CGST Act (and... Read More →

Posted in GST |

GST Provisions on Online Information and Database Access or Retrieval (OIDAR) Services

Online information and database access or retrieval services" (OIDAR service) means “services whose delivery is mediated by information technology over the internet or an electronic network and the nature of which renders their supply essentially automated and involving minimal human... Read More →

Posted in GST |