AS -17 aplicable to whome ? we are doing audit of one event Managment Co.as there events are in diffrent cities regularly like Mumbai,Kolkatta,Banglore......so i wanted to know that As -17 will applicable to them or not ,does AS -18 is mandatory for all co
This Standard is mandatory in nature for enterprises which falls under one or more of the following categories, at any time during the accounting period:
(i) Enterprises whose equity or debt securities are listed whether in
India or outside India.
(ii) Enterprises which are in the process of listing their equity or debt
securities as evidenced by the board of directors
this regard.
(iii) Banks including co-operative banks. (iv) Financial institutions. (v) Enterprises carrying on insurance business. (vi) All commercial, industrial and business reporting enterprises, whose turnover for the immediately preceding accounting period on the basis of audited financial statements exceeds Rs. 50 crore. Turnover does not include (vii) All commercial, industrial and business reporting enterprises having borrowings, including public deposits, in excess ofRs. 10 crore at any time during the accounting period. (viii) Holding and subsidiary enterprises of any one of the above at any time during the accounting period.
i am doing audit of a chemical factory(in maharashtra)..... i struck up with a query that in case of sales vouching.... i found that in some invoices the freifgt is charged before vat / cst ...... & in others the freight is charged after vat / cst, so while calculating vat / cst freight is to be considered or not ?
Another...............Doubt...............
whther tax collected at source is to be charged after vat / cst it is calculated on the basic sales value of material......?
T R SOOD & CO
New Delhi
CA Inter
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