Impact of GST on Bloggers, Freelancers and Exporters of Services

A) REGISTRATION UNDER GST Export of services would be considered as inter-state supply under GST and since it is mandatory to register in case of inter-sate supply, all the exports of services would be required to register under…

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Hedging Loss on FC Forward Contract not Speculation Loss

TAX FLASH:  CIT v Friends And Friends Shipping Pvt Ltd. – Gujarat High Court S. 43(5): Loss on foreign currency forward contracts by a manufacturer/ exporter is a “hedging loss” and not a “speculation loss” FACTS OF THE…

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Checklist for Incorporation of a Company

Details of proposed company to be incorporated Proposed names of the company in order of preference. Main objects of the company. Authorized share capital of the company Details of Directors ( Provide details of 2 directors in case…

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Company Formation in India

Companies incorporated or registered in India are governed by the Companies Act 1956. Shareholders and Directors There is no need to appoint local director to incorporate a company in India. Foreign nationals can incorporate company in India and…

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Scope and Objectives of Internal Audit

As per AAS-6, Internal Control System refers to all the policies and procedures adopted by the management of the entity to assist in achieving management’s objectives ensuring the orderly conduct of the business, the accuracy and completeness of accounting…

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