CAclubindia Articles

LEI (Legal Entity Identifier) code for Companies in India | An analysis

Ishita Ramani 11 December 2021 at 12:43

The LEI was created to help control counterparty risk by allowing the identification and linkage of parties to financial transactions. Its purpose is to make systemic risk measurement and monitoring easier and more cost-effective, as well as to assist more cost-effective compliance with regulatory reporting requirements.

Checklist of internal audit

Tanuj Chandra Saxenaa 11 December 2021 at 11:32

All internal audit projects should begin with the team clearly understanding why the project was put on the audit plan.

Section 177 of Companies act 2013: Whistle blower policy

Tanuj Chandra Saxenaa 11 December 2021 at 09:45

Companies considering the interest of all its well-wishers, who want to report genuine concerns within the organization, implements the Vigil Mechanism/Whistle Blower Policy.

Audit of Banks: Statutory Audit of Banks & LFAR

Tanuj Chandra Saxenaa 11 December 2021 at 09:28

Statutory Audit is a type of audit which is mandated by a Law or a Statute to ensure the books of accounts presented to the regulators and public are true and fair.

GST Procedure related to demands and recovery

Abhishek Raja 11 December 2021 at 08:47

The incidence of short payment and non-payment of tax, wrong availment of Input Tax Credit, etc. may be because of an inadvertent bona fide mistake (Normal Cases) or it may be a deliberate attempt (Fraud Cases) to evade the tax.

Export LC and its challenges

Reeta Sharma 11 December 2021 at 08:47

Exporting goods across borders is complex and exposes a wide range of risks of non-payment from the buyers.

Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action

CA.Mohit Gupta 10 December 2021 at 19:46

Bank Lockers- Income Tax Search and Seizure

Change of registered office of a LLP

Tanuj Chandra Saxenaa 10 December 2021 at 15:03

The partners need to check the LLP agreement, in case it provides for the procedure for shifting the registered office of the LLP. In case no procedure is prescribed, obtain consent of all partners regarding change of registered office.

An introduction to Eway Bill

Tanuj Chandra Saxenaa 10 December 2021 at 14:07

E-Way Bill is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in.