CAclubindia Articles

Accouning Standards vis-a-vis IND vis-a-vis IFRS

CA. Atul Khurana 22 December 2014 at 11:00

OVERVIEW:What is Convergence of Accounting Standards?What is IFRS?Convergence of Indian accounting standards with IFRSRole of ICAI in IND ASRole of SEBI in IND ASRole of Industry AssociationsAdvantages and Challenges after implementing IND ASFor bett

Couple of keys for MS excel that will save you huge time

Ashutosh 22 December 2014 at 11:00

Everyday at work, we go through on various calculations and models prepared in MS Excel. Some of these are prepared by us, while many a times, they are prepared by someone else (say a colleague, client, banker, vendor or customer). In all of these si

Salient features of GST Constitutional Amendment Bill

Bimal Jain 20 December 2014 at 13:51

Seeking to create a seamless and common market for Goods and Services across the Country, Finance Minister Mr. Arun Jaitley presented the Constitution (122nd Amendment) Bill, 2014 on Goods and Services Tax (GST) in Lok Sabha on Friday,

Key amendments in Companies Act, 2014

MAYANK 19 December 2014 at 16:23

KEY AMENDMENTS IN COMPANIES ACT, 2014 BY THE COMPANIES (AMENDMENT) BILL, 2014 Companies Act, 2013 was notified after a long period on 29th August, 2013. The Companies Act inbounds the strength of business. The Companies are base of financial structur

New Year Resolution: Have A 'Stop Doing' List

Nimish Goel 19 December 2014 at 10:44

The difference between successful people and very successful people is that very successful people say No to almost everything. (Warren Buffet)The new-year 2015 is approaching and as usual we all would start to write down

Transfer Pricing adjustment on Corporate guarantee

Rupesh Srivastava 19 December 2014 at 10:44

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an

Service Tax on Commission Agent dealing in Import-Export

Swapnil Munot 19 December 2014 at 10:44

Service Tax on Commission Agent Service on Import-Export of Goods By CA Swapnil Munot In order to promote the Exports, Government of India has given big relief to industries in India, by exempting the service tax on

Union Cabinet approves GST Constitution Amendment Bill

Bimal Jain 19 December 2014 at 10:40

Dear Professional Colleague, Union Cabinet approves GST Constitution Amendment Bill The Union Cabinet, on Wednesday, December 17, 2014 has approved the Constitutional Amendment Bill on Goods and Services Tax (GST), taking a step towards

Reverse charge & partial reverse charge mechanism in ST

CA. K S Chauhan 19 December 2014 at 10:40

Service Tax is levied under Section 66B of the Finance Act, 1994 as amended up to date. Section 68(1) confers liability to pay service tax on service provider but section 68(2), which has overriding effect over section 68(1), confers liability to pay

Supreme Court: Mobile charger is not a part of cell phone

Sumit Grover 18 December 2014 at 11:42

Honble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone. B