Editorial

Dear Readers,

During the month of September 2025 our CEO, Mr. Raghu Marwah was in London to visit RNM UK office and to discuss cooperation with a USA headquartered accounting firm and leading private Bank. He was also in Bengaluru on an exclusive Sell Side Advisory mandate for a M&A transaction.

On the Direct Tax side, the due date for filing Tax Audit has been extended to 31 October 2025. The ICAI has also issued a revised 2025 Guidance Note on Tax Audit which highlights practical clarifications with a focus on threshold limits, timelines and compliance procedures.    

On the Indirect Tax Side, the 56th GST Council meeting recommended the consolidation of the multiple existing slabs into three broad categories merit rate at 5%, standard rate at 18% and demerit rate at 40%. The GST Appellate Tribunal has been decided to be operationalized with benches across India. 

On the Assurance Side, the NFRA has released the Series -4 of Auditor-Audit Committee Interaction Series on audit of Accounting Estimates and Judgement. This provides a good  guidance to independent members of Audit Committee to enhance transparency and quality of interaction.   

We would like to take this opportunity of wishing all our readers best wishes for Deepawali on 20 October. On this day we celebrate the spiritual triumph of good over evil and light over darkness.