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E-Commerce Business and GST

April 14, 2022 3957 Views 0 comment Print

Unlock the potential of your E-Commerce business with GST. Learn about the impact of tax legislations on the growth and revenue of the e-commerce sector.

Format of Form for performance evaluation of Directors

April 14, 2022 11712 Views 0 comment Print

COMPANY NAME BOARD AND COMMITTEE EVALUATION 1 (one) – Strongly Disagree to 5 (Five) strongly Agree scale BOARD EVALUATION 1. STRUCTURE AND COMPOSITION OF BOARD  Particulars RATINGS  1-2-3-4-5 a. Composition of the Board is right mix of executive & non-executives directors   b. The Board has Members who have the right mix of capabilities, experience […]

Liquor License Fee Not Liable to GST

April 13, 2022 23712 Views 0 comment Print

Understanding the tax implications of liquor license fees under GST. Find out if liquor license fees are liable to GST and how it impacts businesses.

Ready to Eat’ Popcorn Sold In Retail Packages Attracts 18% GST: AAR

April 13, 2022 2430 Views 0 comment Print

Understanding the impact of GST on ready-to-eat popcorn sold in retail packages. Learn about the classification and taxation of this popular snack.

Annual updation/modification of IEC is now mandatory

April 13, 2022 93624 Views 5 comments Print

IEC(Import Export Code) is a mandatory identification document for carrying out any import/export activity in the Country. A business cannot make any import/export supply until and unless IEC has been obtained except under expressly provided exemptions. Earlier after making an application for IEC, a separate identification number used to be issued by the department. But […]

Accounting software must provide an audit trail feature by 1st April 2023

April 13, 2022 8499 Views 0 comment Print

By April 1, 2023, It is mandated that accounting software must provide an audit trail feature The government’s notification on the audit trail Companies have been granted a year to adopt the Ministry of Corporate Affairs’ most recent accounting software upgrade, which allows them to use the audit trail (edit log) feature. According to a […]

Atal Innovation Mission

April 13, 2022 3108 Views 0 comment Print

In the year 2016, ‘Atal Innovation Mission’ was set up by NITI [National Institution of Transforming India] Aayog. It is a Government of India initiative. Basically, it is developed with an aim to promote a culture of entrepreneurship as well as innovation across the country at various schools; research institutions; MSME; universities; etc. The current […]

Aadhaar for Direct Benefit Transfer (DBT)

April 13, 2022 2445 Views 0 comment Print

Q.1 How would I know that DBT funds have come to my account? Ans. If you have availed SMS alerts facility from the concerned bank where your DBT account is opened, then the bank will send out SMS alerts when you get DBT funds in account. Alternatively, you can also check your account balance using […]

Impact of Waiver of Loan or Liability on Depreciation Claim

April 13, 2022 4284 Views 0 comment Print

ISSUE FOR CONSIDERATION When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition, an issue that arises with respect to waiver of loan or part of the purchase price is whether the depreciation […]

Operational creditor includes a purchaser of goods & services: SC

April 13, 2022 972 Views 0 comment Print

Apex Court, in the case of Consolidated Construction Consortium Limited vs. Hitro Energy Solutions Private Limited, was seized of the following legal questions: 1. Whether the Appellant is an Operational Creditor under the Code even though it was a ‘purchaser’; 2. Whether the Respondent took over the debt from the Proprietary Concern; and 3. Whether the application under Section 9 of the Code is barred by limitation.

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