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Explore how Ind AS 113 and IFRS 13 guide fair value using market-based and income-based valuation approaches with key differences and practical examples.
Learn how to identify performance obligations under Ind AS 115 and IFRS 15 for accurate revenue recognition. Includes examples from construction, software, and telecom.
Understand the difference between Regular and Composite GST dealers, their tax rates, compliance requirements, ITC eligibility, and suitability for businesses.
Learn how Ind AS 116 & IFRS 16 define lease substitution rights. Understand when asset control determines lease recognition in financial reporting.
The Goods and Services Tax (GST) framework differentiates between Casual Taxable Persons (CTP) and Non-Resident Taxable Persons (NRTP), each with distinct compliance requirements. A CTP is an Indian entity or individual supplying taxable goods or services in a state where they do not have a fixed business presence. Conversely, an NRTP refers to a foreign […]
Section 34(2) of CGST Act allows a supplier to issue a credit note to adjust the taxable value or tax payable in case of: Post-supply discounts, ,Returns of goods, or Deficiencies in services.
Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, and extended filing deadlines.
Discover key changes and updates in the latest Income Tax Return (ITR) Forms for AY 2024-25. Explore eligibility criteria and features of each form for seamless tax filing.
Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteria for deductions like 80C, 80D, 80E, and more.
Understand the process of issuance of Show Cause Notices, orders, and payment of penalties under Sections 73 and 74 of the CGST Act 2017. Learn about timelines, penalties, and procedural intricacies in this comprehensive guide.
