Articles by CMA Navneet Kr Jain

Notices for non-appointment of Cost Auditors for 2017-18 being issued by Cost Audit Branch of MCA

CMA Navneet Kr Jain 17 May 2022 at 15:46

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.

Posted in Audit | 3 comments | 4008 Views

Cost Audit and Cost Records Applicability 2022-23

CMA Navneet Kr Jain 02 May 2022 at 09:04

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.

Posted in Audit | 11817 Views

CGST department likely to commence Scrutiny of GST returns for 2017-18 and 2018-19

CMA Navneet Kr Jain 23 March 2022 at 10:39

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.

Posted in GST | 1 comments | 27543 Views

How to understand the budget in simplest way: Contents of Annual Union Budget

CMA Navneet Kr Jain 31 January 2022 at 09:03

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.

Posted in Union Budget | 1 comments | 4233 Views

Preliminary Notices for non-appointment of Cost auditors being issued by MCA

CMA Navneet Kr Jain 03 December 2021 at 09:53

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.

Posted in Audit | 936 Views

Scrutiny of GST Data Begins and GST Department Steps up The Heat On The Assessees

CMA Navneet Kr Jain 15 July 2021 at 09:13

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.'

Posted in GST | 1 comments | 18000 Views

GST Era & Cost Records and Cost Audit Applicability on the basis of HSN

CMA Navneet Kr Jain 18 June 2021 at 17:42

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.

Posted in GST | 7215 Views

IT Department sends partly faulty communication specifying High Value Information

CMA Navneet Kr Jain 30 March 2021 at 15:05

The income Tax department sends communications specifying High Value Information and seeks further information however communications seem to be partially faulty.

Posted in Income Tax | 21 comments | 27879 Views

GST Dept Issues Notices to the Debtors to make good for the default in deposit of GST Dues

CMA Navneet Kr Jain 22 March 2021 at 09:38

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.

Posted in GST | 2 comments | 2136 Views

Union Budget 2021 | GST Audit by CA/CMA Discontinued but More Onus Put On assessees

CMA Navneet Kr Jain 02 February 2021 at 08:57

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.

Posted in Union Budget | 3 comments | 17571 Views