Note : GST will not be applicable on residential property sales or the sale of land devoid of any structures. Q. Whether GST Will be applicable on sales of Commercial Property ? Ans. : Yes, GST will be applicable unless and until sales after completion certificate. Q. GST Rate on …
The statutory provision and the period for which the proposed action is contemplated. The records or evidence which is relied on by the assessing authority for the proposed action has to be invariably marked and referenced. The self-declaration, if any, made by the assessee to the department which is sought …
Important Area for Auditor : Maintenance of Books of Accounts Supply & time and Place of Supply Value of Supply Tax Rate Changes ITC, RCM & Refund Law, Circulars and Clarification Important Points to be take care while finalizing the Audit : Analysis of Financial Statements : Expenditure Analysis Income …
This Article will cover all the important aspects which should be kept in our mind while drafting Reply for any Notice under GST. Coverage of issues: The reply should be prepared by responding to each and every paragraph of show cause notice. The drafting should cover response to all the …
Notwithstanding anything to the contrary contained in any order or direction of any Appellate Authority or Appellate Tribunal or court or in any other provisions of this Act or the rules made thereunder or any other law for the time being in force, every person who has collected from any …
Discussion from Time of Supply Perspective As per the provisions of CGST Act, in respect of Time of Supply of Goods‘ revenue shall be recognized as per Section 12 and in respect of Time of Supply of Services‘ as per Section 13 of the said Act. The Value to be …
This is a most vital area before commencement of the Audit program. A great deal of the groundwork can be done upon analysis of the available return figures and thereby having a prima-facie idea of the business trend of the auditee. Illustrative steps that may be considered for an effective …
In Normal Circumstances it’s Simple to Start to Audit under GST but if there will be certain specific then situation then it’s quite difficult to know about the procedure of GST Audit, hence in this blog we are coming with the concept of GST Audit in certain Specific Situations. The …
AS 1 / IND AS 1: DISCLOSURE OF ACCOUNTING POLICIES AS 1 deal with the disclosure of significant accounting policies followed in the preparation and presentation of financial statements. It states that an enterprise needs to disclose significant accounting policies followed by it to prepare and present its financial statements. …
A business contract/agreement is the statement, either oral or written, of an exchange of promises in It is a negotiated and legally enforceable understanding between two or more legally competent parties. There are different types of business agreements/contracts. Scrutiny of these contracts or agreements constitutes one of the important functions …