Understanding E1 AND E2 Sales under CST Act 1956

Central Sales Tax Act 1956 envisages single point of taxation i.e. tax at the first point of sales. Subsequent sales during the movement of the goods from one state to another have been exempted under section 6(2) of CST Act. Before proceeding to understand which sale is exempted under section 6(2) and the conditions for exemption, one sh...

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Govt. reduces PF Administrative Charges

S.O. 323(E) and S.O. 324(E) (01/01/2014)

EPFO (Employees Provident Fund Organisation) has cut the administrative fee it charges under the ambit of its social security schemes, effective from January 1st 2015. The administrative charges have been reduced to 0.85% of basic wage from 1.10% as per a Labour Ministry Notification No. S.O. 323(E) and S.O. 324(E) both dated 02.02.2015....

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GST on sale of old and used vehicles reduced

Big Relief on Sale of Old and Used Vehicles:Government by issuing the Notification No. 8/2018 Central Tax Rate read with state Tax Notification, reduced the Rate of GST on old and used vehicle as follows:...

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Business Codes For ITR Forms For A.Y 2019-20

CBDT has changed of business codes for income tax return forms from A.Y. 2019-20. Before filing of Income tax return we must (ITR) ensure correct business sector along with correct business code has been selected. List of Business codes for ITR forms for A.Y. 2019-20 mentioned below:- Also Read- Business Codes For ITR Forms For […]...

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Posted Under: Income Tax |

Salary TDS Calculator in Excel for AY 2019-20 FY 2018-2019

Download TDS Calculator in Excel Format for Salary for Assessment Year 2019-20 (AY 2019-20 ) or Financial Year 2018-19 (FY 2018-2019  ) Also useful for computing Income Tax, Simple Excel Calculator Know about How to Use the calculator by clicking the link of YouTube Video – ...

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Posted Under: Income Tax |

Leave Encashment or Leave Salary Tax Treatment Sec 10(10AA)

Many organisation provide the facility of Leave Encashment (by whatever name called be it earned leave, sick leave etc) either 1) during the period of employment or 2) at the time of retirement (including separation on account of resignation, retrenchment, VRS etc other than termination) of the employee or 3) at the time of Termination [&...

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Posted Under: Income Tax | ,

Input tax credit not allowed under GST u/s 17(5) of CGST Act (Blocked credit)

The GST Act is still going from lot of changes with respect to its provisions and different rates of taxes. One of the important aspects of GST is on which supplies is the input tax credit not available or is prohibited....

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Reverse and Partial Reverse Mechanism Chart from 01.04.2015

Reverse and Partial Reverse Mechanism Chart with effect from 01.04.2015 and The extent of service tax payable thereon by the person who provides the service and any other person liable for paying service tax for the taxable services ...

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Difference in IND AS and Existing AS

Indian Accounting Standards, (abbreviated as Ind AS) are a set of accounting standards notified by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards (IFRS). These accounting standards are formulated by Accounting Standards Board of Institute of Chartered Accountants of India....

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Posted Under: CA, CS, CMA |

Secretarial Audit under Companies Act, 2013

‘Secretarial Audit’ has introduced by recently enacted Companies Act, 2013. It is compliance audit, by independent practicing company secretary. The purpose is to detect the non-compliances by companies under Companies Act 2013 and other allied corporate Laws as applicable to the companies....

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