Ministry of Finance Measures being taken to Control and Prevent Frauds in Banks Posted On: 14 DEC 2018 A number of measures being taken to control and prevent frauds in banks, including, inter alia, the following: Government has issued “Framework for timely detection, reporting, investigation etc. relating to large value bank frauds” to Public Sector Banks (PSBs),… Read More »
Expense wise reconciliation required in GSTR 9C (GST Audit) Table 14 of GSTR-9C (Reconciliation Statement if turnover Exceeds Rs 2 Crore ) requires expense-wise reporting of ITC available and availed Issue: 1. Table 14 of GSTR-9C requires expense-wise reporting of ITC available and availed whereas it is not feasible for auditors to verify expense wise… Read More »
Cash flow statement requirement Issue: There is a requirement to attach cash flow statement with form GSTR-9C. However, for small scale businesses it is difficult to comply with as they are not required to prepare the same. Suggestion: It is suggested to make the attachment of cash flow statement optional for small scale businesses GSTR… Read More »
Ministry of Water Resources, River Development and Ganga Rejuvenation Revised Guidelines for Ground Water Extraction Notified, to be Effective From 1st June 2019 Water Conservation Fee Introduced for the First Time Posted On: 13 DEC 2018 In order to comply with various directions of the Hon’ble NGT and to address various shortcomings in the existing… Read More »
ICAI Suggestions on GSTR 9 and 9C INTRODUCTION 1. The Institute of Chartered Accountants of India considers it a privilege to submit its suggestions on Reconciliation Statement and Certificate in Form GSTR 9C. We shall be pleased to discuss these suggestions provided in this communication during a meeting in person, to illustrate the points made… Read More »
GST Demand if goods or services not accounted for or there is shortage Keeping records under GST is most important task.If records of goods and services supplied and received is not kept as per provisions of GST Act , then there would be serious penalties under GST act. Video Lecture if GST Records are not… Read More »
ICSI GST Newsletter December 2018 ICSI GST Newsletter December 2018 : Download click here Related Post ICAI GST E Newsletter issued till date ICSI GST Newsletters
GST MCQs on Annual Return Q : The annual return shall be filed by the registered taxable person (other than dealers paying tax under Section 10) in form_____________ A. GSTR 9 B. GSTR 9A C. GSTR 9C D. GSTR 10 Answer A. GSTR 9 Q: Annual return shall be filed by the person registered under the composition… Read More »
Taxmann GST Audit & Annual Return Description GST Audit Report Clause-wise detailed analysis How to do various reconciliations in GSTR 9C Explanation using practical examples Action to be taken for each clause Checkpoints while doing GST audit Interlinks with Audited Annual Financial Statements GST Annual Returns Table-wise detailed discussion Practical Scenarios in tabular presentation Interlinks… Read More »
GST Offline Payments: Over the Counter 1. Can I make OTC Challan payments at any branch of the authorised banks? Yes, OTC Challan payment/s can be made at any branch of the selected authorised bank. The details of these banks are available on the GST Portal. 2. What is the maximum amount that can be… Read More »