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Information collected from underlying entity records and processes, as well as information from the performance of various audit activities and testing procedures forms part of "Internal Audit Evidence" based on which auditor forms his opinion.
An Audit Committee is required to formulate the overall internal audit plan of the company which includes planning the scope, functioning, periodicity, and methodology for conducting the internal audit.
Think about all of the famous entrepreneurs - Arianna Huffington, Steve Jobs, Elon Musk, Bill Gates etc. They all showed up every single day. They showed up when they didn't want to. Thus, Persistence is the key to success.
One might be good at one thing and bad at the other while the other person might be the exact opposite. Similarly, when at times, you lack the most essential thing in life that keeps you going; the other person might be full of it.
'Inspection' is a softer provision than search which enables officers to access any place of business or of a person engaged in transporting goods or who is an owner or an operator of a warehouse or godown.
The person liable to pay tax under reverse charge shall be required to issue an invoice in respect of goods/services received by him from the unregistered supplier.
As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare an invoice by uploading specified details of the invoice on IRP and obtain an IRN. The Invoice containing IRN is known as ‘e-invoice’ in GST.
Discussing conditions that need to be satisfied in case one is supplying to a merchant wherein export is in excess of @0.1% (IGST) or 0.5% (CGST & SGST each).
Discussing whether, as per Rule 89(1) of CGST Rules, 2017, the recipient of deemed supply applying for refund has to claim ITC or not, in order to claim a refund?
In this article, we discuss some of the important FAQs and their suggested solutions on eligibility and applicability of the Quarterly Return and Monthly Payment Scheme under GST.
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