Audit Program Statutory Bank Branch Audit Program: 2024-25
Detailed Statutory Bank Branch Audit Program for the Financial Year 2024-25 Based on the Guidance Note on Audit of Banks
IGST refund cannot be denied despite availing duty drawback
The Hon’ble Madras High Court of Madurai Bench in the case of M/s Modern India Products v. The Assistant Commissioner
ITC cannot be denied due to wrong address and GSTN on invoices
The Hon’ble Delhi High Court in the case of B Braun Medical India (P.) Ltd. v. Union of India
Key Income Tax Changes w.e.f 1st April 2025
This file contains key income tax changes that will be effective from 01.04.2025
BDDR and Cooperative Banks
After a close reading of the RBI circular titled “Prudential Treatment of Bad and Doubtful Debt Reserve (BDDR) by Co-operative
Royalty is not a tax but a contractual payment
The Hon’ble Chhattisgarh High Court in Mahesh Sharma v. Union of India
Tax collected at the stage of detention can be claimed as GST refund if excess tax is paid in regular returns
The Hon’ble Madras High Court in M/s Chetna Steel Tubes (P.) Ltd. v. Goods and Service Tax Network (GSTN), New
Writ Petition cannot be filed directly after issuance of intimation of tax
The Hon’ble Karnataka High Court in the case of M/s. Sri Nanjudappa Constructions v. Union of India
SCN cannot be issued without considering the reply to pre-consultation notice
The Hon’ble Bombay High Court in the case of FSM Education Pvt Ltd v. Union of India
Analysis of Kotak Consolidated Financial Statement
Analysis of Kotak Consolidated FS in Reference to AS and Best Practices