Article explains Areas in which Partnership agreements can be formed, Benefits of getting the partnership firm Registered, Requirements for Partnership Firm Registration and Documents required for Partnership Firm Registrations. A Partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, […]
The Goods and Service Tax Network (GSTN) has notified the impending changes in GSTR-1 Table-12 on GST Portal. The government has notified that from 1st April onwards, it will become mandatory to report minimum 4 digit or 6 digits of HSN (Harmonized System of Nomenclature) Code in Table-12 of GSTR-1 and in Tax Invoice. This […]
Quoting of HSN on Tax Invoices With effect from April 1, 2021 A. Quoting of HSN Classification on Invoices (With effect from April 1, 2021) – Notif. No Date Summary of Notification 78/2020 – Central Tax and 6/2020 – Integrated Tax 15-10-2020 HSN classification on Invoices (with effect from 01/04/2021) a. HSN at 6 digits for […]
CSR Policy – A statement containing the approach and direction given by the board of a company, taking into account the recommendations of its CSR Committee, and includes guiding principles for selection, implementation and monitoring of activities as well as formulation of the annual action plan;
Below attached file provides analysis of Section 206C(1H) of Income Tax Act,1961. Kindly go through the analysis and provide your valuable insights. In Case PAN not furnished then 1% rate applicable. This Provision shall not apply in case when Buyer is liable to deduct TDS on goods purchased by him. Here Seller shall mean : […]
INTEGRATED REPORTING The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession and NGO’s. Together this coalition share information about value creation, preservation or erosion is the next step in the evolution of corporate reporting. <IR> has three key foundations: 1. Value Creation for the organization […]
Foreword: This is the first part of a 2-part write-up, that shall explore the RCM taxation of Ocean freight. This part -1 shall deal with CIF contracts, in which the freight component is unknown to an importer, followed by FOB. Part -1 – CIF Contracts of Import of goods, RCM on. Presently, ocean freight is […]
In view of beginning of a new financial year from 01st April, 2021; there are certain provisions in GST Act which have been made mandatory by CBIC and which should be kept in mind in order to avoid any trouble later. ♦ Central Board of Indirect Taxes and Customs (CBIC), in the Notification No. 05/2021 […]
Arbitration provides an efficient and alternative mechanism for quick dispute resolution. It is one of the important aspects of Alternate Dispute Resolution Process. It is now days one of the most preferred course of dispute resolution process because it involves mediation and conciliation process and encourage parties to solve their disputes out of court and […]
Nidhi means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings among its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for the regulation of such class of Companies
