Sa 450
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The auditor's objective is to evaluate the effect of identified misstatements on the audit and the effect of uncorrected misstatements on the financial statements. Misstatements refer to differences from the required financial reporting framework. Uncorrected misstatements are those not yet corrected by management. The auditor determines if the audit plan needs revising based on identified misstatements. All misstatements are communicated to management for correction, and the auditor considers reasons for uncorrected items. Uncorrected misstatements are communicated to those charged with governance. The auditor requests written representation from management on whether uncorrected misstatements are material. Audit documentation includes trivial thresholds, accumulated misstatements, and the materiality conclusion.
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Wct
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Wct a detailed guide
Works contract is a deemed sale which involves the transfer of property in goods (whether as goods or in any other form) involved in the execution of the works contract. The concept of taxation of goods transferred during the execution of works contract has been a matter of great litigation over the period.
I am trying to sum up the regularly followed methods and procedures while determining the taxation of works contracts in the hands of contractor.
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Rajasthan VAT Act in English Language.
THE RAJASTHAN VALUE ADDED TAX ACT, 2003
(Act No. 4 of 2003)
(Received the assent of the Governor on the 30th day of March, 2003) An Act to consolidate and amend the law relating to the levy of tax on sale or purchase of goods
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Sa 450
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