The income Tax department sends communications specifying High Value Information and seeks further information however communications seem to be partially faulty.
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.
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.
Disclosures of COVID-19 related impacts on business through various statutory documents during finalization of accounts
Identification of COVID Related Abnormal Expenses/ Losses & Inventory Valuations
Mapping of figures being reported in the GST documents with the other statutory documents has caught the eyes of the taxation authorities. Newspapers are floode..
RESPONSIBILITY OF DIRECTORS: AS REGARDS MAINTENANCE OF COST RECORDSASSURANCE CERTIFICATE FOR MAINTENANCE OF COST RECORDSMaintenance of Cost Records and data gen..
The article is an attempt to explore the untouched areas in the GST Audit arena. The companies have started the GST audit processes and are focussing on GSTR 9 ..
The much awaited demand of the stake holders with regard to the fine-tuning of Companies Cost Records and Audit Rules has been met with though not fully by the ..
Alignment of Cost Records with GST initiated