A Company having share capital is incorporated by subscription of shares by subscribers to Memorandum of Association.The Company can have Indian Subscribers or Foreign subscribers. In case the Indian company has Foreign subscribers, it is termed as Foreign Direct Investment.…
Transparent Taxation Platform Announced in India
The Indian Prime Minister Mr. Narendra Modi has rolled out a scheme to incentivize honest taxpayers on 13.08.2020 via video conference,entitled “Transparent Taxation – Honoring the Honest”. Recently, several initiatives have been taken by the Central Board of Direct Taxes…
How Auditors Can Test Inventory in the Coronavirus Times
As per SA 501 “Audit Evidence – Specific Consideration for Selected Items”auditor is required to conduct Physical Inventory at least once a year. Due to coronavirus pandemic auditors could not attend Physical Inventory at the year end thus posing a…
NO ITC ON PAVER BLOCK
Paver block can be defined as a stone-based road-building material in the form of blocks of solid rock commonly used for creating a pavement or hardstanding. Advance ruling was sought by applicant M/s Sundharams Private Limited u/s 97 of CGST…
Indian MSMEs: A New Outlook
MSME is abbreviated form for Micro, Small and Medium Enterprises.The Government of India devised the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 on 02nd October, 2006. As per the Act, categorization of enterprises was done into micro, small and…