In India, there are many entities receiving government grants or government assistance each year. As per Indian GAAP and Ind As there are specific treatment for accounting of Government Grants and Government Assistance. Entity has to follow the same in the preparation of financial statements according to Indian Accounting Standards or earlier GAAP whatever applicable […]
Learn about compound financial instruments and their role in accounting standards. Discover how they are classified and the impact they have on financial reporting.
Under the new taxation regime Taxpayers have to file various monthly and Quarterly Returns and Forms under the Central Goods and Service Tax Act, 2017 to comply with the provisions of the Act. Let us summarize all the returns in the one table. Forms Particulars GSTR-1 Filed by all registered taxpayers for Outward Supplies GSTR-1A […]
Duty Drawback scheme was introduced by the Ministry of Finance as a rebate for duty chargeable on any imported materials or excisable materials used in manufacture or processing of goods, manufactured in India and exported. The exported products are revenue natural. The Central Government is empowered to grant Duty Drawback under section 74 and 75 […]
Relevant Extract of Advance Ruling Order in Case of M/S EMPATHIC TRADING CENTER, Karnataka Bench The proprietor of M/s. Empathic Trading Center has field an application for advance ruling under section 97 of the CGST Act, 2017 read with Rule 104 of CGST Rule 2017 and section 97 of KGST Act, 2017 read with Rule […]
Article 279A of the constitution empowers the president to constitute a joint forum of the central and states namely, Goods and Services Tax Council. Goods and Services Tax Council is a constitutional body for making recommendations to the union and state government on issues related to Goods and Service Tax. The provisions relating to GST […]
The applicant is unregistered person and has field an application for advance ruling under section 97 of the CGST Actr 2017 read with Rule 104 of CGST Rules 2017 and section 97 of KGST Act,2017 read with rule 104 of KGST Rules 2017. The applicant is an unregistered person and in receipt of various types of […]
