: For Finance Professionals & Students

Monthly Archives: December 2013

 The festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to all. Children enjoy the festival very joyfully.  

 All religion teaches same spiritual thoughts. All people should live and let others live happily and peacefully. To teach good thoughts is the only best gift to children in their life. When kid I liked Butter very much, but today children like was’s chocolates, cakes, ice-creams, etc.

Inter-State Vs Intra State -Sale/Purchase

Registered dealers are eligible for certain concession or exemption of tax on inter-State transactions Under the Central Sales Tax Act, 1956 (in short CST), if dealer is able to comply with certain conditions. By Submission of statutory forms like Form C, F, H, I, E-I or E-II etc. However before dealing with the procedural issues involved in obtaining or submitting these Forms it is more important to understand few concepts like what is ‘intra-State transaction’ or ‘Inter-State transaction’ because once nature of transaction is established, it would be very easy to know that whether VAT is applicable of central Sales Tax (CST) and then procedural compliance can be done easily.

If Internal Audit report is carried out fairly it becomes very crucial document for Statutory Auditors, The statutory auditor may use internal audit report in a meaningful manner and can perform his duties in a better way. Which can help to perform Statutory Auditor’s while performing their Final Audit. Internal Audit report is a very important documents and it contains various information cum insights about the company’s/entity’s operations. Generally an internal audit report contains:

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