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RRPM & Associates LLP, Chartered Accountants

RRPM & Associates LLP, a Chartered Accountants firm having 7 CA partners with 8 offices in SouthIndia

26/10/2026

₹50 Crore of Goodwill Written Off. What Does This Tell Us About Valuation?

When a business acquires another, the price can include more than the value of its identifiable net assets. That extra amount is goodwill, which reflects expected future benefits from the deal.

But what happens when those benefits are no longer recoverable?

A real case: Godrej Industries
Its FY 2024-25 consolidated financials disclosed that ₹50.03 crore of goodwill linked to Godrej Highview LLP was fully impaired. The goodwill sat in a cash-generating unit described as "Future sale of Real Estate units". After reviewing future cash flows, management concluded the unit was not recoverable. From acquisition through 31 March 2025, the unit contributed nil revenue and nil profit to the Group.

What can businesses learn?
→ A purchase price doesn't guarantee future value. Expected benefits may not materialise.
→ Goodwill needs ongoing scrutiny. Under Ind AS 36, it is tested for impairment against the recoverable amount of its cash-generating unit.
→ Cash-flow assumptions matter. Revenue, margins and project timelines decide whether a carrying value holds up.
→ The work continues after closing. Actual performance should be tracked against the assumptions behind the deal.

Goodwill may arise from expectations. Its continued recognition depends on recoverability.

Sound valuation and financial reporting go beyond arriving at a number. They need a critical look at the assumptions, evidence and performance behind it.

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20/10/2026

Tools blessed ✅
Team together ✅
Hearts full ✅

Ayudha Pooja vibes at RRPM & Associates LLP 🪔🌼

Grateful for our tools, our team and the year ahead. 🙏

TeamRRPM

20/10/2026

Happy Ayudha Pooja! 🪔🌼
May the divine blessings of this auspicious day shower positivity, growth and success on all our endeavours.
Grateful for our tools, that build a better tomorrow. 🙏
– Team RRPM & Associates LLP
CAFirm Audit Taxation Accounting Gobichettipalayam Erode TamilNadu

16/10/2026

GST just got a lot less intimidating.

The 57th GST Council meeting on 8 October recommended some of the most taxpayer-friendly changes since GST began:

🔹 No more arrest powers. Section 69 would be omitted entirely.
🔹 Higher prosecution threshold. It would rise from ₹1 crore to ₹5 crore.
🔹 Lower penalties. The general penalty would fall from ₹25,000 to ₹10,000.
🔹 No-show cause notices where the tax involved is under ₹10,000.
🔹 Faster refunds. Excess cash ledger balances would be refunded automatically, and 90% of zero-rated and inverted duty claims would be sanctioned provisionally.
🔹 Late fee waiver for taxpayers up to ₹5 crore turnover; if the return is filed by the end of the month, it is due.

The message is clear: the focus is shifting from enforcement to trust and ease of doing business, while still keeping deterrence against genuine fraud.

One caveat: these are council recommendations. They take effect only once circulars, notifications, and law amendments are issued.

If you run a business, now is a good time to review your refund claims, pending notices, and ITC positions.

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16/10/2026

The deal looked profitable. Until Someone Checked the Receivables.

A business reports:

₹10 crore revenue.
₹1.5 crore profit.
20% year-on-year growth.

On paper, it looks like an attractive acquisition.

But before signing the deal, a deeper review raises a few questions:

How much of the receivables are actually recoverable?
How old are the outstanding balances?
Is revenue concentrated among a few customers?
Are margins sustainable or driven by one-time factors?
Are there related-party transactions affecting profitability?
Are there undisclosed liabilities or pending disputes?
How dependent is the business on its existing promoters?

Because buying a profitable business is not the same as buying sustainable profits.

Financial statements tell you what has been recorded.

Due diligence helps you understand what you are actually acquiring.

Before an acquisition, the important question isn't just:

“How much profit does the business make?”

It is also:

“How much of that profit is sustainable, how much cash does it generate, and what risks come with it?”

In an acquisition, the numbers are only the starting point—not the entire story.

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09/10/2026

Walmart paid $16 BILLION for Flipkart. But what was it actually buying?

In 2018, Walmart bought about 77% of Flipkart for roughly $16 billion.

When it split up the price, here’s what it recorded for the whole Flipkart business 👇

📈 $13.5 billion in goodwill
🏷️ $5 billion in intangibles, mostly brand names ($4.7 billion)

Walmart said the goodwill mainly reflects expected synergies and economies of scale.

💡 So it wasn’t just paying for what showed on the balance sheet. It was paying for:

✅ The brand
✅ Customer relationships
✅ Technology
✅ Market position
✅ Future growth

Two companies can have similar financials and very different valuations, because value isn’t only about what a business owns today. It’s about what it can earn tomorrow. 🚀

A valuation isn’t just a number. It’s a conclusion built on assumptions about the future.

What do you think matters more in a deal: the assets, or the future earnings? 👇 Tell us in the comments!

📌 Save this post and share it with someone who loves business stories.

05/10/2026

RBI changed the export realisation deadline TWICE in 4 months — and most exporters never noticed

Here's the timeline most people missed

Until June 2026: 9 months to realise export proceeds

13 Jan 2026 (notified): RBI's new FEMA Export-Import Regulations, 2026 extended this to 15 months (18 for INR-invoiced exports) — a genuine relaxation

22 Sep 2026 — just 9 days before go-live: RBI quietly cut it back down to 9 months (12 for INR-settled). The 15-month window never actually kicked in ⏳

What's LAW today (from 1 Oct 2026):

Goods: 9 months from shipment date
Services: 9 months from invoice date
INR-invoiced/settled exports: 12 months
Warehouse exports: 9 months from sale date

Two more changes in the same amendment:
→ AD Banks can now independently handle pre-Oct 2026 transactions that earlier needed direct RBI approval
→ Exporters already on the Caution List (as of 30 Sep 2026) stay under existing orders — this isn't an automatic reset

Why this matters: If you updated contracts or compliance calendars based on the original 15-month window from January, they need to be revised BACK to 9 months.

📌 Save this post for your compliance calendar!

01/10/2026

Forgetting one checkbox can cost you ₹10 lakh — every single year.

Under India's Black Money Act, failing to disclose a foreign asset in Schedule FA triggers a flat ₹10 lakh penalty per year — regardless of asset value, even if all tax was already paid.

Common mistakes that trigger it:
🔸 Wrong reporting period — Schedule FA follows the calendar year (Jan-Dec), not India's financial year. Most filers miss the Jan-March window.
🔸 Wrong ITR form — Schedule FA exists only in ITR-2/ITR-3. Filing ITR-1 with foreign assets is treated as non-disclosure.
🔸 Inherited/gifted assets — Must be disclosed from the year you became legal owner.
🔸 Returning NRIs — Overseas assets must be reported starting the year you become a resident.

Relief that exists: A ₹20 lakh safe harbour (excluding immovable property) removes the penalty — but not the disclosure obligation itself.

Missed a past disclosure? FAST-DS 2026 offers a one-time window (open till 31 Dec 2026) — a flat ₹1 lakh fee if tax was already paid and only Schedule FA was missed.

Has your client's foreign asset disclosure been reviewed this year?

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29/09/2026

The Deal Looked Profitable. Until Someone Checked the Receivables.

A business reports:

₹10 crore revenue.
₹1.5 crore profit.
20% year-on-year growth.

On paper, it looks like an attractive acquisition.

But before signing the deal, a deeper review raises a few questions:

How much of the receivables are actually recoverable?
How old are the outstanding balances?
Is revenue concentrated among a few customers?
Are margins sustainable, or driven by one-time factors?
Are there related-party transactions affecting profitability?
Are there undisclosed liabilities or pending disputes?
How dependent is the business on its existing promoters?

Because buying a profitable business is not the same as buying sustainable profits.

Financial statements tell you what has been recorded.
Due diligence helps you understand what you are actually acquiring.

Before an acquisition, the important question isn't just:

"How much profit does the business make?"

It's also:

"How much of that profit is sustainable, how much cash does it generate, and what risks come with it?"

In an acquisition, the numbers are only the starting point — not the entire story.

24/09/2026

The Income Tax Audit Form 3CD reporting requirements have been updated for AY 2026-27—touching presumptive taxation, MSME payments, Section 43B, loans/deposits, and buyback receipts, along with the omission of a few clauses.

Here's what's changed:
1️⃣ Clause 12—Section 44BBC added
Now included in the reporting of income taxable on a presumptive basis.
2️⃣ Clause 19—Four deduction rows removed
References to Sections 32AC, 32AD, 35AC, and 35CCB have been dropped.
3️⃣ Clause 21—New settlement expenditure reporting
Now separately covers expenditure on settling proceedings relating to a contravention under a law notified by the central government.
4️⃣ Clause 22—MSME payment reporting overhauled
Now covers interest inadmissible under Section 23 of the MSMED Act, amounts payable to micro/small enterprises under Section 15, amounts paid within the prescribed period, and amounts remaining unpaid and inadmissible.
5️⃣ Clause 26—Aligned with current Section 43B
Includes specific reporting treatment for Section 43B(h) on payments to micro and small enterprises.
6️⃣ Clauses 28 & 29—Omitted entirely
7️⃣ Clause 31—More granular transaction reporting
Additional details are now required on the nature and mode of loans, deposits, specified advances, and repayments—including applicable transaction codes.
8️⃣ New Clause 36B—Share buyback reporting
Reporting is now required where the assessee receives an amount on buyback of shares under Section 2(22)(f), including the amount received and cost of acquisition.

For practicing CAs, this isn't a minor form update—clauses 22, 26, and 31 in particular will need closer client documentation review this audit season, especially around MSME vendor classifications and loan/deposit transaction trails.

Are your audit checklists updated for AY 2026-27 yet?
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Address

Office No 5, 2nd Floor Business Center, Sowripalayam
Coimbatore
641015

Opening Hours

Monday	10am - 7pm
Tuesday	10am - 7pm
Wednesday	10am - 7pm
Thursday	10am - 7pm
Friday	10am - 7pm
Saturday	10am - 7pm

Website

http://www.rrpm.co.in/

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