Sponsored
    Follow Us:

Video: Composition scheme under GST good or bad?

July 11, 2017 2577 Views 0 comment Print

Composition scheme should be opted by only those manufacturers or traders who sells directly to the consumers. Composition scheme can also be opted by restaurants and their aggregate turnover exceeds Rs. 20 Lakhs and is upto Rs. 75 Lakhs.

Video: Happiest profession post GST implementation

July 11, 2017 2496 Views 0 comment Print

Any person who is in reverse charge is the happiest man or woman. There life is in good shape. They can take holidays. They can spend good time with their friends and families for 30 days in a month.

Best GST tax invoice format with explanation

July 7, 2017 46725 Views 7 comments Print

The GST tax invoice is the most important document in GST regime. This is grand father of all document. This document can be panacea of indirect tax. Govt. thinks this document shall end corruption when filed in GST Network. Computers will work overnight to match invoice with invoice. This system hopes to weed out bad eggs.

There is no law to fix MRP

July 6, 2017 4812 Views 0 comment Print

MRP simply means that price of goods cannot exceed the displayed price. GST is not levied on the basis of MRP. GST is levied on that price on which goods are actually transacted. GST is levied on invoice price. Suppose MRP of any goods is Rs. 100 and it is sold at Rs 80. GST shall be levied on Rs. 80. This is the law. Even if goods are sold at loss then also GST shall be levied on that sale price. This sale price can be questioned only on related party transaction and not otherwise.

What happens after 3 months of implementation of GST

July 3, 2017 21837 Views 2 comments Print

Friends as you all know GST has been made effective w.e.f 1-7-2017. GST has been welcomed by all and specially Chartered Accountants for a simple reason that it will create biggest opportunity of all time for them. CA’s are most enthusiastic and they should be.

Most dangerous section of GST

June 24, 2017 38736 Views 7 comments Print

Section 9(4) shall force every service provider who is providing services to business entity to get itself registered even if their turnover do not exceeds Rs. 20 Lakhs. Chartered Accountant, company secretaries and cost accountant will need immediate registration under GST on the first day of start of practice. Even supplier of goods shall come under this section purview.

Finance Act 2017: Cash transaction compliance a must w.e.f 1-4-2017 or face heavy penalty

April 6, 2017 6468 Views 0 comment Print

Section 269SST includes within its sweep all types of cash receipts from any person of whatever nature whether as donations or gifts or compensation, encashment of securities/instruments etc. A penalty equal to the amount of such receipt shall be imposed u/s 271D.

Budget 2017: Filing of return for AY 2018-19 and consequences of late filing u/s 234F

February 7, 2017 20064 Views 5 comments Print

Vide Budget 2017consequences of late filing of return has been changed drastically. It basically forces the assessee to file the return of income in time. It allows late filing of return albiet with a fees. Even the time of filing of revised return has been reduced by 1 year.

Computation of tax as per slab rate for AY 2017-18

February 3, 2017 8832 Views 1 comment Print

Finance bill 2017 has reduced the lowest slab rate to 5% from 10%. This is a welcome step. The assessee shall get maximum benefit of Rs. 12,500 across all levels of income.

MCQ Strategy : Ethical Code to cheat

December 14, 2015 1946 Views 0 comment Print

Very useful for students appearing in CA, CS, CMA, UPSC and other competitive exams. 1. Accelerate your mind before the start. … 2. Read the questions cautiously and then answer. … 3. Do not try to solve everything in one go. … 4. Take half to one minute breaks if possible. … 5. Learn as […]

Sponsored
Sponsored
Search Post by Date
February 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
2425262728