The alco-beverage industry continues to be excessively regulated in India, even after over 70 years of independence. Such over regulation is not just in manufacture but also in sales and consumption. While we have no national economic policy on the same, simply because alco-beverage is state regulated, every state has its liquor or state excise […]
In today’s economic climate, it is common for chartered accountants to venture into a private practice. This is among the best ways to establish yourself in any market and grow as a professional. However, running a business is an expensive undertaking, no matter if you’re located in metropolitan cities or not. Whether you’re looking to […]
A lot of legal considerations have to be kept in kind before finalizing books of accounts for the auditor to give a reasonable assurance that the financial statements of the client give a true and fair view. One of such legal considerations involve compliance with GST Act. In this article we shall learn the GST considerations with respect to balance sheet items w.r.t what all needs to be ensured and verified by the auditor.
Important Changes with effect from 01-04-2021 in GST 1. E-Invoicing A. A notified class of registered persons must prepare invoice by uploading specified particulars of the invoice on the Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN) The invoice copy containing inter alia, the IRN with QR Code issued by the notified […]
The Hon’ble Rajasthan High Court in Jodhpur Vidyut Vitran Nigam Ltd. v. UOI & ors. [D.B. Civil Writ Petition No. 9397/2018, decided on February 5, 2021] quashed Para 4(1) of Circular No. 34/8/2018-GST dated March 1, 2018 (Impugned Circular) which clarifies that following activities provided by DISCOMS to consumers are taxable: i. Application fee for […]
APPLICABILITY CORPORATE SOCIAL RESPONSIBILITY As per Section 135 (1) following companies in immediately preceding Financial Year: > Having net-worth of Rs. 500 Crores or; > Having Turnover of Rs. 1000 Crores or; > Having net profit of Rs. 5 Crores shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more […]
A partnership firm is an association of people who join together for a business purpose and to share the profits. All partnership firms are regulated by the Partnership Act, 1932. In this article, we are sharing the procedure for registering a partnership firm in Haryana.
कुछ विनम्र व्यवहारिक प्रश्न जो समस्या भी है 1. क्या जीएसटी में रिटर्न रिवाइज नहीं होगा इस घोषणा के साथ भारत मे जीएसटी लाया गया था ? क्या कानून किसी रिटर्न के रिवाइज करने के करदाता के अधिकार को रोकता है ? क्या जीएसटी रिटर्न भरते समय डीलर से गलती नहीं हो सकती है ? […]
Article explains Basic concept of Stock Market Trading and its impact on taxation, Taxation for Investing in Stock market – Equity Trading as Business and as Investment, Taxation for Investing in Stock market – F&O Trading as Non Speculation Business, How to compute turnover limit in F&O, Expenses which can be claimed against F&O turnover, […]
The greed and avarice of the human being have been geneses of the gambling and betting in the society and their presence may be noted worldwide without knowing geographical boundaries. In ancient times, the number of precedents in the epics are found to show the practice of gambling and betting in vogue despite considering the […]
