Treatment of Discounts under GST
Discounts are an integral part of business. Business generally offer trade discounts to increase sales, while cash discounts are given to recover payments quickly and...
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Right Issue Procedure
The Right issue signifies the preemptive right of the existing shareholders. The current equity shareholders have the first right to subscribe to the shares if...
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AS-19 : Leases
Accounting Standard (AS) 19 Leases Objective The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosuresin relation...
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CARO-2020 : Applicability from FY 2021-22
Companies Auditors Report Order, ‘CARO’ 2020 The said order is applicable for reporting on financial statements of companies whose financial year commences on or after...
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AS-18 : Related Party Disclosures
Accounting Standard (AS) 18 Related Party Disclosures Objective The objective of this Standard is to establish requirements for disclosure of: (a) related party relationships; and...
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AS-17 : Segment Reporting
Accounting Standard (AS) 17 Segment Reporting This Accounting Standard is not mandatory for Small and Medium Sized Companies, as defined in the Notification. Such Companies...
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Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4
Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4 Instances have come to notice where taxpayers are reporting negative liability appearing in their...
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AS-16 : Borrowing Costs
Accounting Standard (AS) 16 Borrowing Costs Objective The objective of this Standard is to prescribe the accounting treatment for borrowing costs. Scope 1. This Standard...
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AS-14 : Accounting for Amalgamations
Accounting Standard (AS) 14 Accounting for Amalgamations Introduction 1. This standard deals with accounting for amalgamations and the treatment of any resultant goodwill or reserves....
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Related Party Transactions under Companies Act 2013
[Section 188 and Rule 15 of Companies (Meeting of Board and its Power) Rules, 2014]- Related Party Transactions: As per Section 2(76) of the Companies Act, 2013,...
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AS-13 : Accounting for Investments
Accounting Standard (AS) 13 Accounting for Investments Introduction 1. This Standard deals with accounting for investments in the financial statements of enterprises and related disclosure...
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AS-12 : Accounting for Government Grants
Accounting Standard (AS) 12 Accounting for Government Grants Introduction 1. This Standard deals with accounting for government grants. Government grants are sometimes called by other...