Explore the intricacies of GST Audit, including types (Mandatory, Departmental, Special), objectives, and applicability. Unveil the process, thresholds, and key insights to ensure compliance and accurate reporting.
Understanding Maximum Retail Price (MRP) under GST: Learn how MRP is calculated and the factors included in its calculation for products sold in India and Bangladesh.
Understanding the concept of set off and carry forward of loss under the Income Tax Act, 1961. Learn how to adjust losses against profits and maximize tax benefits.
Article explains Who is liable to get register in GST,What is the threshold limit for GST registration, Special category of States for GST Registration Requirement, What is aggregate turnover for GST, Who is Casual Taxable Person under GST and Who is non-resident taxable person under GST. Who is liable to get GST registration ?? Any […]
Finalization of account means check and reconciled books of accounts is correct, perfect and accurate. Normally, books of account finalize at the end of the year. But best practice is check and reconcile accounts periodically i.e. monthly or quarterly. Steps to be taken at the time of Finalization of books of account 1. Opening balances […]
Article explains Provision of GST after death of Proprietor, Who is liable for Applying GST Registration Cancellation, How to Add Legal Heir, Status of Balance Lying in the Electronic Credit Ledger and Process of Transfer of ITC. Provision after Death of Proprietor 1. Add Legal Heir 2. Apply for Cancellation 3. File Final Return GSTR […]
Article explains What is Cryptocurrency like Bitcoin, Legality of Cryptocurrency, Income From Cryptocurrency, Taxability of Income From Cryptocurrency, Whether Income Covers Under Profit and Gains of Business & profession or Capital Gain or Other Source, MCA Regulations applicable to Cryptocurrency like Bitcoins and Statements From Finance Ministry on Bitcoins. What Is Cryptocurrency? A crypto currency […]
♦ Goods Transport Agency(GTA) As per Notification No. 11/2017-Central Tax (Rate) dated 28th June, 2017,GTA means (i) any person who provides service in relation to transport of goods by road and (ii) issues consignment note, by whatever name called. Sec.23(1) CGST Act (i) Any Person engaged exclusively in non-taxable supply or (ii) Exempted supply No […]
Compliance for Private Limited Company ♥ 1st Year of Incorporation > First 30 Days Board Meeting 1st Board Meeting (BM): – Within 30 days of Incorporation Auditor’s Appointment Appoint 1st Auditor: Should be appointed within 30 Day of Incorporation in BM Form MBP 1 (Disclosure of Interest by Director) : 1st BM of Every Financial […]
All about TDS on Rent Meaning of Rent ‘Rent’ means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— 1. land; or 2. building (including factory building); or 3. land appurtenant to a building (including factory building); or […]
