"25 July 2017" Archive - Page 4

GST- Bird’s Eyeview

GST is a comprehensive Value Added Tax on Goods and Services. It is collected on value added at each stage of sale and purchase in the supply chain without state boundaries. The proposed GST is a destination based indirect tax that will be levied on supply of Goods and Services...

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Decoding of ‘Place of Supply of Goods’ under GST

Conceptually GST is destination/consumption based tax i.e. person consuming the service/goods shall bear the burden of such tax and that revenue shall go to the corresponding state but no provision express this concept/ philosophy. However same was inherent and more adequately embodied in the provisions of Place of supply (POS)....

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Assessing the Impact of GST on Cost- of-Living of Households

It has been about three weeks since India’s landmark GST (Goods and Service Tax) became operational on July 1, 2017. Its impact on the overall economy business, households, and the government organizations is expected to be multi -faceted, and will be felt by different sectors over differing time periods in a dynamic and non-linear patt...

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All about GST Law As applicable in India in Hindi

The Attached book on GST Explains in simple language in Hindi the provisions related to Importance of GST and Benefits, Taxes to be subsumed in GST, Migration related provisions, GST Registration, Composition Levy,  GST Return, Input Tax Credit, Payment of GST, GST Assessment, GST Refund, GST Appeal, GST Transitional Provisions and GST H...

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GST- Know about Invoice, Credit Note and Debit Note in Hindi

Attached file explains about Tax Invoice, Credit Note and Debit Note in Hindi under the New GST Regime as applicable from 1st July 2017. Book further Explains about what Tax Invoice should contain, time limit to issue Tax Invoice, How to issue Invoice, Bill of Supply, Receipt Voucher, Refund Voucher, Payment Voucher, Revised Tax Invoice, ...

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ICAI write Letter to Editors of Various publications on CA Day issues

The above referred story incorrectly portrays about incidents being reported at the venue of CA Day 2017 celebrations i.e. at Indira Gandhi Indoor Stadium on July 1, 2017. It has been mentioned that force was used by the Police to control the crowd at the venue & Chartered Accountants were shouting slogans against the Govt....

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FAQs on computation of book profit to levy MAT for Ind AS companies

Circular Number 24/2017-Income Tax 25/07/2017

Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies....

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Issues on implementation of MAT provisions for Ind AS companies

NA 25/07/2017

CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounting Standards (Ind AS) compliant companies....

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ICAI Technical Guide on ICDS

Technical Guide on Income Computation and Disclosure Standards The Ministry of Finance vide Notification No. 87/2016 dated 29.09.2016 notified ten Income Computation and Disclosure Standards (ICDSs), operationalizing a new framework for computation of taxable income by all assessees (other than individual or a HUF who is not required to g...

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Must follow rules before taking a Business loan

Timely finance is the cornerstone of running a successful and profitable business. Not having access to funds when required could become an impediment for any businessman be it an owner of a small setup or a big one. Business loans like all other loans are extended based on certain conditions being fulfilled by the applicant […]...

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