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 |

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... Read More →

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... Read More →

Posted in Audit & Assurance |

Relief to Exporters by the Government by Extending them the Export Incentives and Exemptions

The present Foreign Trade Policy (FTP) 2015-2020, which came into force on April 1, 2015, had a five-year validity i.e. up to March 31, 2020. In view of the unprecedented situation arising out of the COVID-19 pandemic, the government has decided... Read More →

Posted in GST |