CAclubindia Articles

VAT on Restaurant Bill

Posted by Pankaj Gandhi Jaiswal 25 April 2016 32169 Views

It is well known and settled fact that restaurant bill includes both component Goods and Service. And since service component is there central government is levying service tax on discounted rate means on 40% value of entire bi

Startup: OId wine in a new bottle

Posted by Amit Jain 25 April 2016 7962 Views

Start-up is term which is quite in news for last few months. Let us look into few analysis of the term. Background:So, it the term and concept new to the world? No, it is as old as history of the mankind itself. The feature was always prominent withi

Related Party disclosure under IFRS

Posted by CMA Ramesh Krishnan 25 April 2016 14192 Views

Current business scenario, the related party relationship are normal feature of any business, It may be through subsidiaries, joint ventures and associates, these kind of business arrangements generally affect the b

How to maintain safe distance from the IT department !!

Posted by ROHIT 23 April 2016 35066 Views

Do you want to keep an Arm�s Length Distance from the Income Tax Department?Obviously the Answer is YES !!! But the question here is HOW ???Here are a list of expenses/ investments, which at any point of time performed by you may invite undue a

Transparency required in allotment of PSU and Bank Audit

Posted by CA Gopal Rathi 23 April 2016 11859 Views

Dear CA friends, Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF). There is

Rule 6(3): Cenvat Credit Rules

Posted by Sunil Kumar 23 April 2016 98070 Views

CENVAT CREDIT AVAILABLE VS CENVAT CREDIT TAKENALARMING AMENDMENT IN RULE 6(3) OF CENVAT CREDIT RULES(a) A manufacturer who manufactures two classes of goods namely:- Non exempted goods removed Exempted goods removedOr(b) a provider of output servic

GST- A Broad Overview

Posted by MEHAK BATHLA 23 April 2016 14192 Views

Introduction of Goods and Service Tax (GST) will indeed be the next logical step towards a widespread indirect tax reforms in India since the introduction of Value Added Tax in 2005. The reference of GST was first made in

Comparison of CARO reporting as per Companies Act, 2013 and Proposed Caro (2016)

Posted by CS Divesh Goyal 23 April 2016 13039 Views

Comparison of CARO reporting as per Companies Act, 2013 and Proposed Caro (2016)The Ministry had set-up a Committee on 16th September, 2015 to examine and recommend matter for inclusion in the statement to be attached with Auditor�s Report unde

To be or not to be; a dropout

Posted by Sundharesan Jayamoorthi 22 April 2016 17190 Views

Dropout seems to be the emerging thing in the field of education; no longer introducing you as a professional from IIT, IIM or for that matter a Harvard may matter. Dropout seems to be the most popular word after �Selfie�. Is dropout a ne

Sector specific banks: Need of the hour in India

Posted by CP Jain 22 April 2016 4953 Views

It is very important to understand the current banking industry�s way of working. Major banks in the country are under the ownership of the Government post nationalisation. These are public sector Banks having highest exposure to lending and so