Practical compliance guides

GST · 14 min read

GST Stock Reconciliation: How to Match Physical Inventory with GSTR-1 and GSTR-3B

A GST departmental audit at a building materials trader in Ahmedabad found physical stock worth Rs 28 lakh more than what the stock register...

CACA Sundaram Gupta · Apr 7

Accounting & Bookkeeping · 15 min read

Ind AS 2 vs ICDS-II: How Inventory Must Be Valued for Financial Reporting and Tax

A manufacturing company in Pune reported closing stock of Rs 4.2 crore in its audited financial statements (valued under Ind AS 2). When the...

CACA Sundaram Gupta · Apr 7

Audit · 16 min read

CARO 2020 and Inventory: What Statutory Auditors Must Verify and Report

A statutory auditor of a mid-size auto component manufacturer in Pune faced a reporting dilemma during the FY 2025-26 audit. The company had...

CACA Puja Pradhan · Apr 7

Audit · 14 min read

Common Deficiencies Found in Bank Stock Audits and How Businesses Can Fix Them

A CA conducting a bank stock audit at a textile unit in Surat found 7 separate deficiencies in a single audit: Rs 12 lakh of unrecorded scra...

CACA Puja Pradhan · Apr 7

Audit · 14 min read

Stock Audit Report Format for Banks: Mandatory Components Under RBI Guidelines

A bank's credit officer in Mumbai rejected a stock audit report submitted by a CA firm because it contained only a physical count summary an...

CACA Puja Pradhan · Apr 7

Audit · 12 min read

Technology in Stock Audit: Barcodes, RFID, ERP Integration and Digital Verification

If your stock audit still involves teams of people walking warehouse aisles with clipboards and pen, you are not just losing time - you are...

CACA Sundaram Gupta · Apr 7

Audit · 12 min read

Stock Audit for Automotive Dealerships: Vehicle Stock, Spare Parts and Demo Cars

An automotive dealership's inventory is one of its largest balance sheet items - a single showroom may hold Rs 5-20 crore worth of vehicles...

CACA Sundaram Gupta · Apr 7

Audit · 11 min read

Stock Audit for Jewellery Businesses: Gold, Diamonds, Hallmarking and BIS Verification

If you run a jewellery business - whether a single showroom or a multi-city chain - your inventory is unlike any other. A single tray of rin...

CACA Sundaram Gupta · Apr 7

Audit · 11 min read

Stock Audit for Pharmaceutical Companies: Batch Tracking, Expiry Dates and Cold Chain

If you manage pharmaceutical inventory, you know that one mislabelled batch or a single cold chain breach can mean lakhs of rupees in write-...

CACA Sundaram Gupta · Apr 7

Audit · 14 min read

Stock Audit for Retail and FMCG Businesses: Perishables, Expiry and Shrinkage Control

A fast-growing FMCG retailer with 40+ outlets in Pune and Mumbai was experiencing persistent inventory mismatches - POS data showed higher s...

CACA Sundaram Gupta · Apr 7

Audit · 16 min read

Stock Audit for Manufacturing Companies: Raw Materials, WIP and Finished Goods

A stock auditor at an auto-component manufacturer in Chakan found Rs 18 lakh of unrecorded scrap across three production lines during a bank...

CACA Sundaram Gupta · Apr 7

Audit · 14 min read

Multi-Location Stock Audit: How to Audit Warehouses, Branches and Consignment Agents

A building materials distributor in Maharashtra operated from one central warehouse in Bhosari, two branch warehouses in Nashik and Kolhapur...

CACA Sundaram Gupta · Apr 7