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TaxCorp · Articles Friday, 4 September 2026

Expert writing across every domain, in one place

Analysis, opinions and practice notes on Income Tax, GST, Company Law, Customs, FEMA and the profession — published as they are approved by our editors.

Article
CA, CS, CMA ·03 Sep 2026
Global Accounting and Audit Update: PCAOB Inspection Finds No Reportable Audit Deficiencies; FASB Opens Consultation on Codification Changes

This global financial reporting and audit update summarises two important international developments: a PCAOB inspection outcome involving one of the Big Four accounting firms and a new FASB proposal aimed at improving the U.S. GAAP Codification.1. PCAOB Inspection of Big Four Firm Concludes Without Adverse Audit Findi...

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CA, CS, CMA SQM 1 and AQMM V2: One Quality Agenda, Two Different Instruments

1. The central distinctionThe Institute of Chartered Accountants of India has placed audit quality at the centre of two important initiatives: the Sta...

RBI / FEMA Vicarious Liability of Ex-Officers Under FEMA 1999 for Non-Realisation of Export Proceeds — Appellate Tribunal's Ruling

IntroductionThe question of whether a former officer of a company can be held vicariously liable under the Foreign Exchange Management Act, 1999 ("FEM...

GST Nil Turnover in GST Returns Cannot by Itself Justify Cancellation of Registration: Gujarat High Court

Introduction: Registration Cancellation and Its Commercial ConsequencesGST registration is the statutory foundation upon which a person conducts busin...

GST Section 112(2) CGST Act: GSTAT's Discretion to Refuse Small-Value GST Appeals Explained

Background: Controlling Litigation on Small-Value DisputesThe GST framework contains a built-in mechanism to discourage appeals involving trivial amou...

CA, CS, CMA Ind AS 118 Exposure Draft: A New Approach to Presenting Financial Performance

Opening PerspectiveThe proposed Ind AS 118, Presentation and Disclosure in Financial Statements, is not intended to alter how an entity measures profi...

GST GST Proceedings After Death of a Sole Proprietor: Section 93 Liability, Notice Requirements and Retrospective Section 16(5) Relief

IntroductionThe death of a taxable person does not, of itself, extinguish an outstanding goods and services tax liability. The Central Goods and Servi...


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