CS Ekta (Company Secretary) (309 Points)
21 August 2009Please confirm whether the following will be considered a key management personnel under AS -18:
Regards
CA Ramesh Kr Verma
(Partner)
(138 Points)
Replied 21 August 2009
both are not related party as per ASI -21.Follow the given link to read ASI-21--www.icai.org/resource_file/333asi_accstand21.pdf
Regards Ramesh Kr Verma
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 21 August 2009
agree wd rakesh sir..
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 21 August 2009
as per ASI see the following.. . A non-executive director of a company should not be considered as a keymanagement person underAS 18 by virtue of erely his being a director unless he has the authority and responsibility for planning, directing and controlling the activities of the reporting enterprise. 4. The requirements of AS 18 should not be applied in respect of a nonexecutive director even if he participates in the financial and/or operating policy decision of the enterprise, unless he falls in any of the categories in paragraph 3 of AS 18. 1
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
