Implementation & Guidance on Audit Trail A. Management’s Responsibility Proviso to Rule 3(1) of the Companies (Accounts) Rules, 20141 (hereinafter referred as “the Account Rules”) states that for the financial year commencing on or after the 1st day of April 2023, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which […]
Robotic Process Automation (RPA) Introduction: In today’s world increase in population has caused increase in demand of almost everything. To keep up with the increase in demand industries and organisations push their employees to do more and more work. Due to increase in competitors in every field organisations are trying to find way to increase their rate of work along […]
GST Calendar –Compliances for the month of March’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) April 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) April 10, 2023 GSTR-1 April 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) April 13, 2023 GSTR-6 Input Service Distributor April 13, 2023 GSTR-2B (Auto Generated Statement) April 14, 2023 GSTR-3B April […]
Amendments to Finance Bill, 2023 Finance Bill, 2023 inserted a new provision- Section 50AA for calculation of capital gains resulting from the transfer, redemption, or maturity of Market Linked Debentures (MLDs). Section 50AA also provided the capital gains from MLDs shall be deemed to be short-term capital gain. Under the amendment to Finance Bill, the scope of this section has […]
Jindal Stainless Buys $157-Mn Stake in Indonesian Firm to Secure Nickel Supply In order to guarantee a supply of nickel, a crucial component in the creation of stainless steel, India’s Jindal Stainless Ltd paid $157 million for a 49% share in New Yaking Pte. Ltd, a company with headquarters in Indonesia. In accordance with the agreement, a nickel pig iron […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of March, 2023 issued by MCA, RBI, SEBI, DIPP and others. Ministry of Corporate Affairs (MCA) The Ministry of Corporate Affairs (MCA) has notified the Companies (Indian Accounting Standards) Amendment Rules, 2023. As per the amended rules, a new para 39AG […]