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Clarification with respect to the Eway Bill System
02 April 2018 at 11:47The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows:1. Situation: Consider a situation where a consignor is require
1.7 lac Eway bill generated on 1st day of roll-out
02 April 2018 at 11:47Smooth Roll-out of E-way Bill System from today, 1st April, 2018As per decision of the GST Council, e-Way Bill system became mandatory from today i.e. 01st April, 2018 for all inter-State movement of goods. The implementation of the nationwide e-Way
IBBI conducts online valuation exam for valuers
31 March 2018 at 12:21Insolvency and Bankruptcy Board of India commences conduct of online valuation examinations for registration of ValuersInsolvency and Bankruptcy Board of India (IBBI) is commencing on tomorrow, 31st March, 2018, the conduct of online Valuation examin
Issuance of New Revenue Standard Ind AS 115
31 March 2018 at 12:22An important development in Ind AS Framework i.e. a new Ind AS in the area Revenue recognition has been notified by Ministry of Corporate Affairs which was formulated based on recommendation made by The Institute of Chartered Accountants of India.The
Revised standard on Joint Audit of Financial statements
30 March 2018 at 12:20IntroductionScope of this SA1. The practice of appointing more than one auditor to conduct the audit of large entities has been in vogue for a longtime, sometimes voluntarily by the shareholders or sometimes due to the requirements of laws or regulat
KYC Requirement for Customers Using Mobile Wallets
29 March 2018 at 12:12As per Reserve Bank of India (RBI)’s related Master Direction dated October 11, 2017 as updated on December 29, 2017, since Prepaid Payment Instruments (PPI) Issuers are operating a payment system, provisions of Prevention of Money Laundering A
IBBI notifies amendment to Insovency and bankruptcy board
29 March 2018 at 12:12IBBI Notifies Amendments to The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016The Insolvency and Bankruptcy Board of India (IBBI) has evolved a transparent and consultative process for making regulations. It has
CBEC simplifies Anti-Profiteering Application Form
29 March 2018 at 12:12CBEC simplifies Anti-Profiteering Application Form (APAF – 1)The same can be downloaded from the attachment as mentioned below.
Amount paid to states under GST
29 March 2018 at 12:12Balance claim of States under GST The Government is providing claims to the States under GST. As per provisions in Section 7 of the GST (Compensation to States) Act, 2017 loss of revenue to the States shall be calculated and compensation for loss of
ICAI President message on NFRA, PNB and other matters
29 March 2018 at 10:21My dear Professional Colleagues,It is important to empathise that carte blanche of ubiquitous nature which has been discernible for the chartered accountancy profession has been due to path of rectitude that the Chartered Accountancy profession has a
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