Introduction: Context and Importance of Inventory Valuation Clarifications: • MCA (Ministry of Corporate Affairs) has issued requests for detailed guidance on inventory valuation and costing under Section 148(7) of the Companies Act, 2013. • This reflects growing...

Introduction: The Supreme Court’s Landmark Ruling • The Supreme Court recently upheld that if one House of Parliament rejects a motion to remove a judge, the other House may still independently initiate and proceed with an impeachment inquiry. • This ruling came in...

Fssai- Food Safety and Standards Authority of India—Statutory body What is FSSAI? FSSAI is a statutory body under the Ministry of Health & Family Welfare, established under the Food Safety and Standards Act, 2006. Its main objective is to ensure safe, wholesome, and...

The Institute of Chartered Accountants of India (ICAI) has officially introduced the Digital Practical Training Diary (e-Diary), making it mandatory for all CA students commencing their practical training (articleship) or industrial training on or after January 1,...

GSTN issued 4 advisories in Dec 2025 clarifying key GST compliances: non-editable Table 3.2 in GSTR-3B, auto-suspension for missing bank details, smarter credit note handling in IMS, and new validations for ITC/RCM ledgers As a measure for enhanced GST compliance,...

What is ITAT? ITAT is the second appellate authority in income-tax matters. • First appeal → Commissioner of Income Tax (Appeals) [CIT(A)] • Second appeal → ITAT • Further appeal (on question of law) → High Court What is ITAT ruling? • An ITAT ruling is a decision or...

What is a Compliance Calendar? It is a strategic tool that maps out all mandatory deadlines, filings, and tasks for an organization to adhere to various laws, regulations, and internal policies, acting as a roadmap to prevent penalties, ensure smooth operations, and...