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GSTR-9 & GSTR-9C Prep: Checkpoints For Exceptional Transactions

TaxationDecember 8, 20238Views 0Likes 0Comments

Overview: Embark on a simplified journey to grasp exceptional transactions in GSTR-9 & GSTR-9C through our essential checkpoints. These straightforward points act as your guide, helping you breeze through last-minute details and streamline your filing process effortlessly. Tailored to simplify the complexities associated with exceptional transactions, providing easy-to-follow insights for effective handling. Dive into our…

GSTR-9 & GSTR-9C Prep: The Pre-requisites

TaxationDecember 8, 202310Views 0Likes 0Comments

Overview: Prepare to conquer the complexities of GSTR-9 & GSTR-9C by mastering the essential pre-requisites. This bite-sized video overview offers a concise roadmap for effective preparation. Start by organizing your invoices and supporting documents, laying the groundwork for a seamless filing experience. Ensure your transactions align with GST regulations to sidestep compliance challenges. Streamline your…

Equalisation Levy- A Brief Analysis

TaxationNovember 29, 202311Views 0Likes 0Comments

Table of Contents What is Equalisation Levy? Applicability Charge of Equalisation LevySection 165: Charge of Equalisation Levy on Specified Services Section 165A: Charge of Equalisation Levy on E-Commerce Supply and Services Collection and RecoverySection 166: Collection and Recovery of Equalisation Levy on Specified Services Section 166A: Collection and Recovery of Equalisation Levy on E-Commerce Supply…

Navigating International Taxes: Understanding The Foreign Tax Credit

TaxationNovember 14, 202311Views 0Likes 0Comments

Table of Contents Introduction Concept of Double TaxationJurisdictional Double Taxation Economic Double Taxation Need of elimination of Double Taxation Methods for Eliminating Double Taxation Methods of Claiming Foreign Tax Credit.Exemption Method Credit Method Indian Tax Laws on Foreign Tax Credit Conclusion Introduction Foreign Tax Credit is a tax credit for foreign government’s income taxes…

Decoding Unexplained Income: Tax Implications

TaxationSeptember 20, 202312Views 0Likes 0Comments

Table of Contents What is Unexplained Income? Sections Covering Concept of Unexplained IncomeSection 68 Section 69 Section 69A Section 69B Section 69C Section 69D Applicability of Section 115BBE Penal Provisions Conclusion What is Unexplained Income? When an assessee does not have any explanation for the source/generation or nature of income being assessed, that income is…

India’s 50th GST Council Meeting: Key Outcomes Shaping Business Landscape

TaxationJuly 24, 20239Views 0Likes 0Comments

Table of Contents Introduction Changes in Tax Rates Exemptions in Healthcare Sector Streamlining ITC Distribution Strengthening GST Implementation Implications for Gaming and Gambling Industry Trade Facilitation Measures Conclusion Introduction India's 50th GST Council Meeting, held in July 2023, witnessed significant developments and key decisions that have far-reaching implications for…

The ICAI restricts UDIN revocation to 48 hours

Latest News / Regulatory updatesJune 25, 202314Views 0Likes 0Comments

The Council of Institute of Chartered Accountants of India (ICAI) has announced that, effective from midnight of 23rd June 2023, the revocation of Unique Document Identification Numbers (UDINs) can be done within 48 hours of their generation. This update allow members to revoke UDINs if desired, but only within the specified time frame. Authorities, regulators,…

Company And LLP Formation in India

Legal ComplianceJune 21, 202311Views 0Likes 0Comments

Table of Contents Introduction Residential Status FEMA vs Income Tax Act,1961 Why should one establish a business in India? How to set up a business in India whether a resident/ non-resident? Types of Business entities and their legal requirements Criteria for setting up business in India as a liaison office, branch office, and project office. Procedure…

Aspects of Audit: Its importance and limitations; the advantages and limitations of the different types of audits

FinanceMarch 22, 202312Views 0Likes 0Comments

Table of Contents Introduction Importance of Auditing Limitation of Audit Advantages and Limitations of Different Types of Audits Management Audit Performance Audit Secretarial Audit Transfer Pricing Audit Information System Audit Forensic Audit CSR Audit Operational Audit Cost Audit Internal Audit Statutory Audit…

Understanding Refund under GST

TaxationMarch 14, 202310Views 0Likes 0Comments

Table of Contents Introduction Who can claim refund of GST? Time Limit for claiming GST Refund Situations leading to refund claim of GST Cases where unutilized ITC can be claimed Refund on Supplies made by Casual Taxable Person (CTP) or Non-Resident Taxable Person (NRTP) Refund on Supplies made to Special…

Overview of Standards on Auditing (SAs)

FinanceMarch 7, 202322Views 0Likes 0Comments

Table of Contents Introduction Objectives of the Auditing Standard Role of International Auditing and Assurance Standards Board Role of Auditing and Assurance Standard Board Classification of the SAs Conclusion Introduction As we know that checking and verification of financial information by an authorized auditor is known as auditing which assures the reliability and authenticity of the…

Audit: History, Meaning, Scope, Objective and Types

FinanceFebruary 23, 202320Views 0Likes 0Comments

Table of Contents Introduction History and Evolution of Auditing Meaning of Auditing Scope of Audit Objectives of Auditing Types of Audits Introduction As it is well known that business organizations began to grow during the industrial revolution, not just in India but globally, and because of globalization, business organizations started increasing the scale…

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