FCA Dinesh Kumar Section 42 and 43 of Model GST Law deal with maintenance and keeping of accounts and records, these are important section to know that what now Govt. wants from a business man with respect to book keeping. This article will help you to clear your question w.r.t Accounts and Records under Model […]
The GST regime in India shall be a turnaround for the whole indirect tax schema in the country. The revamped taxation policies, altered levies and revised compliance methodologies shall affect businesses and commerce of all levels and categories. However, one the most significant and majorly impacted segment shall be the E – Commerce industry.
Appendix I in Income Tax Rules, 1962 in respect of rates at which depreciation is admissible provides depreciation on computers including computer software @ 60%. Recently, in Dinamalar vs. The ITO [T.C.A.No.624 of 2016, Decided on 02.09.2016], the assessee in respect of the claim of depreciation on computers and computer peripherals, claimed depreciation on the items, viz.
Before understanding the Input tax credit under GST Law it is essential to understand the changes made in earlier Law i.e. CENVAT under Rule ,2004 to the new law. After giving the due consideration, it is clear from the given table below that except few minor changes, Capital Goods under Rule 2(a) and Section 2[20] are same.
GST Council is yet to decide on GST rate structure. Since, the last meeting which concluded on 19th October,2016 could not result a consensus amongst states on various reasons.
It’s 26 Marks..!!! The result came out and it was the first attempt of CA Final Examination. I was so scared since the starting of final preparation as I had not that much time to do something special preparation for my least favourite subject ISCA. I genuinely wanted just 40 Marks to pass out the group. And I got 26.
Article discusses Basic features and Objectives of EOU Scheme; Incentives /Facilities available to EOUs,Setting up an EOU;Minimum Investment Criteria; Concept of Unit Approval Committee (UAC); Procedure for approval of an EOU; Sector Specific Requirement for approval as an EOU.
While filling the required details in Form No. 3 CD for assessees, who are subject to Compulsory Audit under various sections, the correct details could not be furnished if the assessee has got income from more than one business and separate books are maintained for such businesses.
Advocate Anandaday Misshra On 18th October 2016, the Central Government has proposed various rate slabs in GST Council. It must be noted that the GST Council is meeting from 17th – 19th October 2016 to finalise GST rate slabs, Cess & concessions along with compensation to various states. GST Rate Slabs – The proposed GST rates are as […]
Union Government has finally unveiled the Model Goods and Service Tax Law (MGL) for comments from Public and interested parties on 14th of June, 2016. It is single most important tax reform since 1947 and has been subject to so many restraints and hesitation from state governments over the loss of power to levy and collect indirect taxes and also the concerns over the loss of tax revenue for the state.
