Under the existing rules as per IND AS 17 (Lease), lessees account for leases either as operating leases or as finance leases, depending on complex rules and tests. These, in practice, use ‘bright-lines’ resulting in all or nothing being recognized on-balance sheet for lease transactions that are sometimes economically similar. New rules as per IND AS…
As a common practice while importing goods, the goods shall first land to custom bonded area then transfer or sale of such goods occur from that area. As a trade practice importer files an into-bond bill of entry and stores the goods in a customs bonded warehouse and thereafter, supplies such goods to another person…
A huge portion of economy is dependent on import and export businesses. For making payments outside India compliances of certain governmental authorities like RBI, FEMA, Income Tax Department etc need to be ensured.One of such compliance of is submitting the form 15CA and 15CB. As per the revised rules relating to preparation & submission of…
