Though Companies Act mandated the maintenance of Cost Records and Cost Audit for companies fulfilling certain criteria, however, the companies used to ignore the mandate by simply mentioning in the Director's Report and CARO report that Section 148 is not applicable.
Continue Reading »Through this article, we have tried to answer most of queries which a company can have with regard to cost records applicability or cost audit.
Continue Reading »The CGST department was gearing up all these years and providing training to its officials to undertake GST scrutinies in a professional way and now it has come up with Standard Operating Procedure.
Continue Reading »Through this note, an attempt has been made so that the readers could understand the overall structure of the Budget documents and areas one should immediately focus as finance/accounts/tax/costing person or as an economist.
Continue Reading »It is important to note that the non-compliance is identified at the earliest by the management itself and appoint the cost auditors before the they receive the notice from the MCA.
Continue Reading »Communication regarding Scrutiny of GST Data reads as - "GST scrutiny issues communicated by EIU for the period 2017-18 is forwarded herewith (find attachment) for your information.'
Continue Reading »The pandemic has brought the focus on the importance of cost management of resources. In this article, we have answered queries which a company can have with regard to cost records applicability, or cost audit.
Continue Reading »The income Tax department sends communications specifying High Value Information and seeks further information however communications seem to be partially faulty.
Continue Reading »The government seems to be in no mood to let the defaulters/fraudsters escape and is using all provisions to ensure that GST revenue collections keep an upward momentum.
Continue Reading »The budget presented on 1st Feb 2021 has brought some good news for the assesses but adverse news for professionals like CMAs and CAs on the GST front, with regard to the discontinuance of GST Audit.
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