Meaning of appointment: Appointment includes re-appointment. Term: Term means a period of five consecutive years Transition Period: Three years from the commencement of Companies Act, 2013 and rules there under applicable for companies which would otherwise had been complying with rotation rules in erstwhile act. Cooling Period: Five years from the date on which the […]
Introduction As we all aware now a day’s Modi government has significantly encourage digital and cashless economy through: 1.1 Providing a online platform for various government services; 1.2 Demonetization, which extremely turns our economy towards cashless; 1.3 By giving incentives and disincentives under various laws for digital transaction; 1.4 By reducing the bank charges of […]
The CGST Act, 2017 read with respective State GST Act(s), has been enacted with one of its main objectives being to ensure a continuous flow of input tax credit at each stage of value addition. In this regards, certain relevant provisions of the said Act have been produced below for reference.
Article clears Confusion related to Exemption from GST in following two circumstances- -Goods, where consideration charged for the transportation of goods ON A CONSIGNMENT TRANSPORTED IN A SINGLE CARRIAGE does not exceed Rs.1500/- -Goods, where consideration charged for transportation of ALL SUCH GOODS FOR A SINGLE CONSIGNEE does not exceed Rs.750/- Extract of Notification No. […]
FASTag is a digital system which has been developed by the National Payments Corporation of India (NPCI). It is based on National Electronic Toll Collection (NETC) programme. Due to the recent mandatory implementation, the word ‘FASTag’ has become more familiar within the general public at large. Implementation of ‘FASTag’ is a huge step towards Digital […]
Income Tax Updates for the Month of November 2019 (Notifications, Circulars and other amendments) 1. Tax deducted u/s 194M (TDS by Individual/HUF) to be deposited within 30 days from the end of the month in which tax deducted CBDT Notification No.98/2019-Income Tax dated 18-Nov-2019 a) Sec 194M: Applicable w.e.f 01-Sep-2019 An Individual/HUF (for whom Sec […]
What should be the correct procedure to adopt when a prospective client tells you that he wants to change his auditor and wants you to take up his work? Is NOC (no objection certificate) required from previous auditor?
Any new reform, particularly a tax reform, is bound to have initial resistance. However tax paying businessmen were so frustrated by multiple taxes and compliances under earlier laws that they welcome GST wholehearted hoping it will solve all their problems and GST will be easy to understand and implement. The government also trumpeted GST from […]
The chapter IV of the CGST Act determines the time of supply of goods or supply of services. Tax Liability arises from the date of time of supply. Time of Supply determines the point of time: 1. the time when the liability to pay tax arises; 2. the rate of tax applicable with reference to […]
This article is attempt to give more clarity about the Gratuity Benefits, Factors increasing the quantum of Gratuity Benefits Exponentially and Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More
