Key Points related to Offences and Penalities under GST (Section 122-138 of CGST Act): ♠ A taxable person is liable to pay the penalty of Rs. 20,000 (CGST+SGST) or an amount equivalent to tax evaded or short paid or not paid or TDS/TCS not deducted or TDS/TCS deducted but not credited into the government or […]
Article explains how to generate E-way Bill in case of single invoice having consignment in more than one vehicle or multiple vehicle. Practical issues faced by many assessees are as follows : 1. How many E-way Bills need to be generated ? 2. What other documents are required ? 3. What are the documents, transporter […]
To simplify the ECB guidelines, RBI vide notification no. RBI/2017-18/169 dated April 27, 2018 introduced a flat all-in-cost ceiling for ECBs uniform at 450 basis points over the benchmark London Interbank Offer Rate (LIBOR), doing away with different slabs for different maturities.
Basic understanding of amortising upfront fees by factoring the same into interest expense by EIR method using Goal seek formula. 1. Entity has taken loan from bank on which it has incurred transaction costs primarily in form of upfront processing fees. Further these loans have multiple changes in interest rate (as contemplated in the contract […]
