‘Gratuity’ in simple term is a reward given by the employer to his employee at the time of his retirement / resignation / termination / death. Present article contains the answer to the basic gratuity related questions like what is the eligibility criteria of gratuity, what is the gratuity calculation formula and what is the […]
With the soon emerging payment of last installment of advance tax for the current financial year 2018-2019, which is due on 15th March for all the assessee (other than 44AD and 44ADA assessee) and 31st March for assessee who are paying tax under section 44AD and 44ADA, let understand the entire concept of advance tax […]
Article explains Meaning of Input Tax, What is eligible ITC in GST, Conditions to claim credit, What is Blocked Credit under GST, Items on which credit not allowed in GST, Who can claim refund in GST and Amendment Notification with respect to the provisions of the Input Tax Credit. I. Introduction & Meaning of Input […]
Article explains Meaning of Input Tax Credit, What is Input Tax Credit under GST, Example of Input Tax Credit in GST, Relevance of the concept of the Input Tax Credit in the business parlance, Input Tax Credit Rules under GST, Amendment Notification in regards to the provisions of Input Tax. I. What is Input Tax […]
The GST Council in its 32nd meeting held on 10th Jan 2019, interalia, had took following decision which are made effective from 1st April, 2019 by way of relevant notifications. Decision incude Higher Exemption Threshold Limit for Supplier of Goods, GSTR 3B Return System further extended till June 2019, GSTR 1 Return System further extended […]
Govt increases Gratuity exemption limit u/s Section 10(10)(iii) to ₹ 20 lakhs from existing Rs. 10 Lakh vide Notification No. 16/2019 dated 8th March, 2019.
CBIC issues 9 notification/ Circulars on 07th March 2019 to give effect to Latest GST Council meeting decisions with effect from 01.04.2019 which includes increase in GST Composition Limit, Increase in GST Registration Limit, Due of GSTe 1 and GSTR 3B etc. S. No. Title Notification No. Date 1 GST Composition Scheme limit enhanced to […]
According to statistics by the Institute of Chartered Accountants of India (ICAI), over 50% of chartered accountants who were surveyed feel that technologies like big data and artificial intelligence are going to change the course of the profession in the coming years. However, one in every two also shared that the costs involved in procuring […]
FCA Neeraj Bhagat Liaison offices (LOs) are a popular option for foreign investors exploring the Indian market for the first time, and unsure of how the country’s liberalizing FDI caps will affect their business. In contrast to other business structures, LOs allow foreign companies to establish a light footprint in India while keeping their financial, […]
Analysis of recent decision of Supreme Court on Employee Provident Fund Contribution Recent decision of the Supreme Court has tried to settle the long drawn litigation about the allowances which need to be considered for the purpose of contribution under the Employee Provident Fund Scheme. Let us discuss the law and the implications of the […]
