Sumit Wadhwa

Upcoming GST Council, expected rate changes and what should businesses do! With the GST Council set to deliberate on 3rd & 4th September 2025, these reforms aim to simplify compliance, boost affordability, and enhance global competitiveness. What to expect and what does this mean for businesses? 🔹 Fewer slab rates → Easier classification & reporting 🔹 Lower rates on essentials → Stimulates demand 🔹 Reduced litigation & improved cashflows 🔹 Improved competitiveness → Lower operational costs Action points for businesses: ✔ Reanalyse pricing & protect margins ✔ Upgrade systems for compliance ✔ Plan cashflows & manage inventory impact Early preparation is key. Our Deloitte alert has more details! #GST #TaxReforms #EaseOfDoingBusiness #IndiaGrowthStory #RateRationalisation #Compliance Amit Sarker Mamatha Anand Abhirath Bhat Rohit Mehta

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The Institute of Chartered Accountants of India has introduced a revised audit report format specifically tailored for non-corporate entities like partnerships, proprietorships, and small businesses. Why this matters: -The new format ensures clarity, consistency, and compliance with the latest auditing standards. -It aligns reporting with SA 700 series and improves communication with stakeholders. Key updates: -Enhanced reporting on going concern assumptions. -More structured presentation of audit opinion and responsibilities. -Simplified language for better understanding by non-corporate users. This change is especially important for CAs who handle MSME clients and unlisted firms. Better reporting builds better trust. Time to review your audit files and adapt. The format may be new, but the goal remains the same: true and fair reporting. #audit #ca #auditreports #icai

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Thank you Sripriya Kumar and The Institute of Chartered Accountants of India for recognising my contribution to the Technical Guide on Disclosure and Reporting of Key Performance Indicators (KPIs) in Offer Documents (Revised 2025). The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, require Issuer Companies to disclose Key Performance Indicators (KPIs) in the Initial Public Offer (IPO) document that are relevant for determining the basis of the Issue Price. In order to facilitate uniform approach in identification and disclosure practices of KPIs, the Industry Standards Forum (“ISF”), comprising representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, has formulated the “Industry Standards on Key Performance Indicators (“KPIs”) Disclosures in the Draft Offer Document and Offer Document (“KPI Standards”)” in consultation with SEBI. These ISF KPI Standards were issued vide circular dated February 28, 2025. The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) had issued the “Technical Guide on Disclosure and Reporting of Key Performance Indicators (KPIs) in Offer Documents” in April 2023. In view of the amendments made by the ISF KPI Standards, AASB undertook a revision of this Technical Guide. The revised edition of Technical Guide has been updated to ensure alignment with the requirements set forth by the ISF KPI Standards.  The document can be accessed through below link: https://lnkd.in/gT3yZJ2t #ICAI #CapitalMarkets #IPO #KPIs #OfferDocuments

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Ajay Sethi, Baker Tilly ASA India, in an exclusive interaction with ETCFO, highlights the urgent need for India to build a robust Top-20 audit firm ecosystem not just aim for a desi Big Four. His views reflect a larger conversation around capacity, credibility, and competition in the Indian audit space. https://lnkd.in/gHzajmgG #AuditFirms #AuditEcosystem #AuditReform

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