Brookfield Renewable To Invest $1 Bn In Avaada Group Brookfield Renewable is investing $1 billion (about Rs 8,200 crore) in Avaada Ventures Pvt. Ltd to help finance the renewable energy company’s green hydrogen and green ammonia businesses. The renewable energy arm of Canada’s Brookfield Asset Management Inc. will make the investment via the Brookfield Global Transition Fund. Thailand’s Global Power […]
The concept of reporting with regard to the maintenance of cost records by directors and financial auditors separately was brought in specifically to ensure that there are no misreportings with regard to applicability. Recently many show cause notices were also issued to companies who had not prepared the cost records or had not filed the cost audit report though apparently […]
GST Calendar –Compliances for the month of April 2023. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2023 GSTR-1 May 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2023 GSTR-6 Input Service Distributor May 13, 2023 GSTR-2B (Auto Generated Statement) May 14, 2023 GSTR-3B […]
1. Personal income tax to GDP ratio rises to 2.94 in FY 2021-22 The Finance Minister, Smt. Nirmala Sitharaman chaired a periodic review meeting with the Central Board of Direct Taxes (CBDT). During the review meeting, the FM was apprised about the impact of various initiatives. Introducing new data sources in SFT has led to an 1118% increase in reported […]
Introduction: The purpose of this Standard on Quality Control (SQC) is to establish standards and provide guidance regarding a firm’s responsibilities for its system of quality control for audits and reviews of historical financial information, and for other assurance and related services engagements. This SQC is to be read in conjunction with the requirements of the Chartered Accountants Act, 1949, […]
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 […]