Circular no. 146/02/2021-GST 1
F. No. CBEC-20/16/38/2020-GST
Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs
GST Policy Wing

New Delhi, dated the 23rd February, 2021

To
The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners /
Commissioners of Central Tax (All)
The Principal Directors General / Directors General (All)

Madam/Sir,
Subject: Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21 March, 2020 – Reg.

Notification No. 14/2020-Central Tax, dated 21st March 2020 had been issued which requires Dynamic QR Code on B2C invoice issued by taxpayers having aggregate turnover more than 500 crore rupees, w.e.f. 01.12.2020. Further, vide Notification No. 89/2020-
Central Tax, dated 29th November 2020, penalty has been waived for non-compliance of the provisions of Notification No.14/2020 – Central Tax for the period from 01st December, 2020 to 31st March, 2021, subject to the condition that the said person complies with the provisions of the said Notification from 01st April, 2021.

2. Various references have been received from trade and industry seeking clarification
on applicability of Dynamic Quick Response (QR) Code on B2C (Registered person to
Customer) invoices and compliance of Notification No. 14/2020-Central Tax, dated 21st
March, 2020 as amended. The issues have been examined and in order to ensure uniformity
in the implementation of the provisions of the law across the field formations, the Board, in
exercise of its powers conferred under section 168(1) of the CGST Act, 2017, hereby clarifies
the issues in the table below:

Download Click here

Price Rs 4666 Click here to Buy online

This book is a guide to Indian Accounting Standards with ‘Basis for Conclusion’, ‘Illustrative Examples’, ‘Implementation Guidance’ and ‘ITFG Guidance’.
The Present Publication, is the 5th Edition, as amended by Companies (Indian Accounting Standards) Amendment Rules 2020 (w.e.f. 24-07-2020)
The commentaries in the book provide comprehensive guidance on the following:

• What deliberations were made while forming the standards
• Comprehension of various provisions mentioned across Ind AS
• Guidance on how to implement the standards under various practical scenarios.

The coverage of the book is as follows:

• Illustrative examples for better comprehension
• Implementation Guidance indicating step-by-step on how complex provisions shall be implemented
• Basis for conclusion explaining what deliberations were made while framing the standards
• Opinions on implementation of Ind AS

This book provides guidance for professionals who are engaged in the practice involving Indian Accounting Standards (Ind AS). This book is also useful for corporate teams involved in making financial statements as well as auditors.

Price Rs 1065 Click here to buy online

• Paperback: 856 pages
• Publisher: Bharat Law House, Delhi; 2019 edition (2019)

Division I

Appointment of Auditors

Chapter 1       Appointment and Removal of Auditors

Chapter 2       Management Services and the Auditors

Chapter 3       Code of Ethics

Division II

Audit of Items of Financial Statements — Ready Reckoner

Chapter 4       Books of Accounts and Financial Statements

Chapter 5       Consolidation of Financial Statements

Chapter 6       Audit Checklist for Share Capital

Chapter 7       Audit Checklist for Reserve and Surplus

Chapter 8       Audit Checklist for Borrowings

Chapter 9       Audit Checklist for Trade Receivables

Chapter 10     Audit Checklist for Cash and Cash Equivalents

Chapter 11     Audit Checklist for Inventories

Chapter 12     Audit Checklist for Fixed Assets and Property, Plant and Equipment (PPE)

Chapter 13     Audit Checklist for Intangibles

Chapter 14     Audit Checklists for Trade Payables and Current Liabilities

Chapter 15     Audit Checklists for Loans and Advances and Other Current Assets

Chapter 16     Audit Checklists for Provisions and Contingent Liabilities

Chapter 17     Audit Checklists for Sale of Products and Rendering of Services

Chapter 18     Audit Checklists for Other Income Comprising Interest Income, Dividend Income, Gain/Loss on Sale of Investments etc.

Chapter 19     Audit Checklists for Purchases

Chapter 20     Audit Checklists for Employee Benefits Expenses

Chapter 21     Audit Checklists for Depreciation and Amortisation

Chapter 22     Audit Checklists for Other Expenses like Power and Fuel, Rent, Repair to Building, Plant and Machinery, Insurance, Travelling, Legal and Professional, Miscellaneous Expenses

Chapter 23     Audit Checklists for Taxes on Income and Minimum Alternative Tax (MAT)

Appendix 1    Financial Statements for a Company: Schedule III

Division III

Schedule III Templates

Chapter 24     Balance Sheet and Profit & Loss Formats

Chapter 25     Specimen Cash Flow Statement

Chapter 26     Practice Pointer Issues on Accounting Standards

Chapter 27     Checklists of Accounting Standards

Division IV

SA and CARO Checklist

Chapter 28     Standards on Auditing (SA) Checklists

                        SA Checklists Part I

                        SA Checklists Part II

Chapter 29     Companies (Auditor’s Report) Order, 2016 — Checklist and Specimen Reporting for Significant Matters

Division V

Audit Prog – Audit Compliance Procedures

Chapter 30     Business Client Information Checklist

Chapter 31     KYC New Client

Chapter 32     Illustrative Audit Programmes for Accounting System & Internal Control

Chapter 33     Illustrative list of Questions to Evaluate Entity Level Controls Considering Nature of Business, Size of Operation and Organisational Structure of the Entity

Division VI

Formats of Engagement and Representation
Letters, Reports

Chapter 34     Illustrative Formats on Agreeing the Terms of Audit Engagements

Chapter 35     Illustrative Format of Representation Letter

Chapter 36     Illustrative Format on an Engagement Letter for an Agreed-upon Procedures Engagement

Chapter 37     Illustrative Format on Engagement Letter for a Compilation Engagement

Chapter 38     Illustrative Format on Engagement Letter for a Review of Interim Financial Information

Chapter 39     Illustrative Format on Engagement Letter for an Engagement to Review Historical Financial Statements

Chapter 40     Illustrative Format on Independent Auditor’s Reports on Financial Statements

Chapter 41     Illustrative Format on Practitioner’s Report with an Unmodified Opinion

Chapter 42     Illustrative Format on Auditor’s Report on Emphasis of Matter Paragraph and Other Matter Paragraphs

Chapter 43     Illustrative Formats on Auditor’s Reports with Modifications to the Opinion

Chapter 44     Illustrative Formats of Auditor’s Report with Modified Opinion

Chapter 45     Illustrative Formats on Auditor’s Report on Corresponding Figures and Comparative Financial Statements

Chapter 46     Illustrative Formats on Auditor’s Reports Relating to Going Concern

Chapter 47     Illustrative Formats on Auditor’s Report Relating to Other Information

Chapter 48     Illustrative Formats on Practitioners’ Compilation Reports

Chapter 49     Illustrative Formats on Review Reports on Interim Financial Information

Chapter 50     Illustrative Formats on Practitioners’ Review Reports

Chapter 51     Illustrative Formats on Special Purpose Financial Statements

Chapter 52     Illustrative Formats on Summary Financial Statements

Chapter 53     Illustrative Format on a Report of Factual Findings in Connection with Accounts Receivable

Chapter 54     Illustrative Formats on a Single Financial Statement and a Specific Element of a Financial Statement

Chapter 55     Illustrative Format of an Unmodified Report on a Projection

Chapter 56     Illustrative Formats on Service Organization’s Assertions

Chapter 57     Illustrative Formats on Modified Service Auditor’s Assurance Reports

Chapter 58     Illustrative Formats on Service Auditor’s Assurance Reports

Chapter 59     Information Requests and Other Client Admin Letters – Letter of Weakness and Appendix

Division VII

Revised Formats of Audit Reports effective from
1^st April, 2018

Chapter 60     Companies Audit Report —Master Template

Chapter 61     Revised Format of Audit Report for Private Limited Company without IFC, CARO 2016, Cash Flow

Chapter 62     Revised Format of Audit Report for Private Limited Company with IFC, CARO 2016, Cash Flow

Chapter 63     Revised Format of Audit Report for Private Limited Company without IFC, but with CARO 2016, Cash Flow

Chapter 64     Revised Format of Audit Report for Private Limited Company without IFC, CARO 2016 but with Cash Flow

Chapter 65     Revised Format of Audit Report for Listed Limited Company

New Books on GST and Tax 

Price Rs 1945 Click here to buy online

• Publisher: bharat law house (2019)

Other New Books on GST and Tax