"A Blogger by Passion and A future Chartered Accountant by profession. "
Charging section of the CGST act only deal with collection of CGST. As per CGST Act 2017 there shall be levied a tax called Goods and Service Tax on all the Intra state supplies of goods and services on the value determined u/s 15 of the CGST Act 2017.
A Non-Banking Financial Companies (NBFCs) are financial institutions incorporated under the companies act 2013, meant for ensuring services ranging from loans to advances, acquisition of shares/stocks/bonds/debentures/securities, which are issued by Government or local authority or other marketable securities of similar nature involved in leasing, hire-purchase and insurance business. The main objective of this type of company is […]
With the government’s commitment to strengthen MSME’s on all fronts including GST, it is expected that the current challenges would be stabilized and the industry gradually take a positive turn to fulfill the nation’s vision.
Several times it has been noticed that non-CAs has been misrepresenting themselves as ICAI member and offering certification services to numerous Authorities and Stakeholders. Such malpractices started bringing a question on the authenticity of financial documents/certification done by actual ICAI Members in practice. Considering the rise in a number of complaints received by ICAI, the […]
I believe you must have heard of Hindu Undivided Family (HUF). Most of the people think that this is a person which are created by some kind of Agreements etc. Well, if you are also one of them then it’s time to bust your myth about that. Because the fact is something far different from that. So, Let’s understand the concept in a bit detail:
Composite Supply: A Composite supply is a supply when two or more goods are sold together in combination of each other which are naturally bundled. The elements of composite supply are dependent on the ‘Principal Supply’. Section 2(30) “Composite Supply” means a supply made by a taxable person to a recipient consisting of two or more […]
SCHEDULE III ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services by an employee to the employer in the course of or in relation to his employment. 2. Services by any court or Tribunal established under any law for the time being in force.
House Rent Allowance exemption under section 10(13A) is allowed if Salaried individuals getting House Rent Allowance as part of salary and full fill below two conditions: He has taken a residential accommodation in which he resides on rent. He has not occupied such property in which he resides.
Gratuity is a monetary benefit given by employer to his employee after rendering a service of minimum of 5 years or more in his establishment. Gratuity act applies where 10 or more persons are employed or were employed on any day of the preceding 12 months.
Complain of Fruad against Companies- The government, in order to encourage better compliance of the law, has introduced the form SCP (Serious Complaint Form) for reporting the serious complaints relating to the companies. This form can be filed on the website of the ministry of corporate affairs. The form can be downloaded by following the […]
