R V K S and Associates

06/09/2023

Cost Implications of a Circular Economy
A 5 min read https://rvks.in/blogs/?p=4060
This article was written by Kajalakshmi R, audit executive at R V K S and Associates

A circular economy is a model of production and consumption, where items and products are reused whenever possible rather than discarded. Taking the cynical approach, circular economy is a fancy way of saying used products. The circular economy is a sustainable economic model that focuses on reusing...

05/09/2023

Navigating Valuation Changes in the Indian Startup Landscape: Challenges and Opportunities

5-min read: https://lnkd.in/gcJyA_pY

This article is written by Anusha Suresh, Audit Executive at R V K S and Associates

31/08/2023

GST Update : Reporting of ITC Reversal Opening Balance upto 30th November 2023

Advisory on Reporting of ITC Reversal opening Balance

1. Taxpayers are permitted to use this facility to report their ITC Reversal Balance that has not been re-claimed.

2. The taxpayer is advised to report solely those reclaimable ITC reversal balances that meet the legal criteria for re-claim and have not been previously claimed by the taxpayers.

3. Taxpayers may report their opening balance until 30th November 2023. After 30th November 2023, the option to report the opening balance will be removed, and it will be assumed that the taxpayer has no ITC Reversal Balance to report.

4. Taxpayers may amend their opening balance until 31st December 2023. Any reported balance after this date will be considered final and cannot be further amended.

5. After 31st December 2023, the updated value shall be frozen with no further attempts provided to the taxpayers to amend their ITC Reversal Balance and this ITC Reversal value will be sent to the Jurisdictional Tax Officer for review.

6. Due diligence should be done while reporting/amending the ITC reversal opening balance, because only 3-time amendment is allowed.

7. The opening balance that has been reported or amended by the taxpayers shall be credited to the "Electronic Credit Reversal and Re-claimed Statement". This statement will be used to validate the taxpayer's ITC Re-claimed amount in Table 4A(5) & 4D(1) of form GSTR-3B.

Note: Taxpayers should only utilize this functionality if they have an ITC reversal balance that is eligible for re-claim but has not yet been re-claimed.

28/08/2023

Credit Rating Agency- Role and Regulation
A 5 min read: https://lnkd.in/grHaSE5c

The article is written by K Balaji, Audit Executive at R V K S and Associates

14/08/2023

GIFT City

5-min read: https://lnkd.in/gUWaQNGc

This article is written by Haifa.F ,Audit executive at R V K S and Associates

08/08/2023

ABC Analysis

4-min read: https://lnkd.in/eyHXnvfw

This article is written by Adithya Devarajan, Audit Executive at R V K S and Associates

07/08/2023

Customer Profitability Analysis

4-min read: https://lnkd.in/g5KuMadk

This article is written by Sowmiya S, Audit Executive at R V K S and Associates.

04/08/2023

GST Notification - Small Business using e-commerce platforms need not have GST registration w.e.f 01/10/2023
1-min read: https://lnkd.in/gX4CuJeN

This notification is articulated by Sowmiya Senthilkumar, Audit Executive at R V K S and Associates

17/07/2023

The Critical Need for Supply Chain Audits: Ensuring Transparency and Sustainability

3-min read: https://rvks.in/blogs/the-critical-need-for-supply-chain-audits-ensuring-transparency-and-sustainability/

This article is written by Ajithkumar C, Audit Executive at R V K S And Associates, Chartered Accountants

Introduction  In today’s interconnected global economy, supply chains have become increasingly complex, involving numerous stakeholders, countries, and regulatory environments. While supply chains play a vital role in meeting consumer demands, they are also susceptible to various risks, including...

06/07/2023

Key Performance Indicators (KPIs) and Key Result Areas (KRAs)

3-min read: https://rvks.in/blogs/kpis-and-kras/

This article is written by Ajithkumar C, Audit Executive at R V K S And Associates.

In a competitive business landscape, organizations must set clear goals and objectives to achieve success. Key Performance Indicators (KPIs) and Key Result Areas (KRAs) play a crucial role in measuring and tracking progress toward these goals. In this article, we will explore the concept of KPIs and...

04/07/2023

First Loss Default Guarantees: Enhancing Credit Protection in Structured Finance
5-min read: https://rvks.in/blogs/fldg/

This article is written by Janet Srinidhi, Audit Executive at R V K S And Associates, Chartered Accountants

Introduction Structured finance transactions involve the pooling of assets which refers to a collection or group of assets held by an individual, organization or financial institutions often done to achieve diversification and spread risk. These transactions carry inherent credit risks, as the perfo...

01/07/2023

SALARY OF SECONDED EMPLOYEES REIMBURSED TO OVERSEAS GROUP COMPANIES IS LIABLE TO SERVICE TAX IN INDIA

5-min read: https://lnkd.in/gf4wtGum

Article written by Vinisha Devi, Audit Executive at R V K S And Associates, Chartered Accountants