Discover the significance of inventory valuation in income tax and the crucial role cost accountants play in this process. Learn about inventory valuation methods and the responsibilities of cost accountants, including choosing valuation methods, determining costs, maintaining accurate records, ensuring compliance with tax regulations, and coordinating with other departments. Stay informed to ensure accurate and compliant inventory valuation for your business.
Understand the implications of not adhering to Section 38 of GST Act 2017. Explore the consequences, including ITC reversal, penalties, interest, scrutiny, and reputational damage.
Learn about the MCA notice for non-compliance with cost records under Section 148 of the Companies Act 2013, and discover solutions for directors, including appointing a Cost Accountant, maintaining accurate records, rectifying non-compliance, seeking professional advice, and timely communication with the MCA to avoid penalties and legal consequences.
Section 148 and Section 134 of the Companies Act 2013 both deal with responsibility of directors regarding the maintenance of cost records.
Discover the crucial role of inventory management control in cost accounting. Learn how it optimizes inventory levels, reduces costs, and boosts profitability.
Discover the penal provisions for non-compliance of cost audit reports under Section 148 of the Companies Act, 2013, and ensure timely submission to avoid penalties.
Explore Cost Accounting under Section 148 of the Companies Act, 2013, its requirements, and practical challenges faced by industries in implementing cost accounting practices.
Learn the importance of cost control techniques in industries. Explore methods like budgeting, standard costing, activity-based costing, inventory management, process improvement, outsourcing, and negotiation.