deferred revenue expenditure

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ST return for April to June to be submitted by 15th August


TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION i GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No 18 2017 Service Tax New Delhi the 22nd June 2017 1 Ashadha 1939 Saka G S R E In exercise of the powe

Cost Inflation indexes notified with Base Year as 2001-02


MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECTTAXES NOTIFICATION NO 44 2017 New Delhi the 5th June 2017 INCOME TAX S O 1790 E Inexercise of the powers conferred by clause v of theExplanationtosection 48of the Income tax Act 1961 43 of 1961 the Central Government hereby specifies t

GST will be implemented from 1st July reiterates Govt


Dr Hasmukh Adhia Revenue Secretary reiterates that the Goods and Services Tax GST would be implemented from July1 2017 States that GST would help in creating lot of jobs for young generation Dr Hasmukh Adhia Revenue Secretary Ministry of Finance Government of India categorically stated that the Good

Ministry of Finance Key Initiatives in the last three years


Department of Expenditure Ministry of Finance takes Key Initiatives in the last three years General Financial Rules 2017 released Central Sector and Centrally Sponsored Schemes rationalized Over Rs 1 lakh crore paid through Public Financial Management System PFMS in various Social Sector Schemes und

GST enrolment window to reopen for 15 days from 1st June


Revenue Secretary Dr Hasmukh Adhia holds detailed review of IT Preparedness for the roll out of Goods and Services Tax GST from July 01 2017 60 5 lakh taxpayers out of 84 lakh enrolled as of now Registration to be reopened for 15 days from 01st June 2017 Out of 62 937 tax officials 24 668 tax offici

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Experts Opinions

Can it be recorded as deferred revenue expenditure?


Dear Sir Madam An entity has reimbursed the expenditure of laying of Electricity Wires and such other related expenses to the State Government amounting Rs 14 Lakhs Since ownership of wires lies with State Government in this case and hence entity cannot able to show it as Fixed Asset as per AS 10 th

head of expenditure


my client expend of Rs One lakh on printing and designing of his annual report which head it should be booked Whether in printing and stationery or any other appropriate head

Income tax expenditure


Hi Team Good Afternoon I m New one to this portal group I want ask one query regarding income tax can we less personnel expenses in income tax individual head like electricity bill fuel charges water bill gas bill etc

Tds on capital expenditure.


Hi What happens when i don t deduct TDS on capital expenditure Are there any penalties involved Please quote with the relevant section number Thanks in advance

As 9 revenue recognition


Hi Experts There is a company which is providing software development services to its customers under a long term contract and that company is raising invoices on the basis of man hours spent and hourly rates for the project on monthly basis to its customers Can any one explain how it is comply with

Discussion

Revenue recognition

Please share the concept of revenue recognition under GST

Deferred tax calculation

in case of deferred tax calculation the company has grant as deferred income Whether deferred income is deducted from depreciation calculated as per companies act

Royalty payment in nature of capital expenditure

SUPREME COURT OF INDIA CIVIL APPEAL NO 4918 OF 2017 Honda Siel Cars India Ltd Vs Commissioner of Income Tax Ghaziabad Agreement between two companies was to set up a joint venture company with aim and objective to establish a unit for manufacture of automobiles and part thereof this technical collab

capital and revenue expenditure

amount spent on overhauling of second hand machine purchased should be treated as capital or revenue expenditure

Revenue recognised

we have recognised revenue for Fy 2015 16 on a service contract for 5 Lakhs but due to certian issues the customer claiming deficiency of service agreed to pay only 3 Lakhs we issued a credit note for 2 Lakhs in FY 2016 17 in the financial statements of 2016 17 March 17 is it appropriate to reverse

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Acquisition of Fixed Assets and their Deferred Tax Impacts


Accounting and Taxation treatment of Interest on borrowings Foreign exchange fluctuations related to acquisition of Fixed Assets and their Deferred Tax Impacts In this discussion we would understand the accounting and taxation treatment of interest on funds borrowed for acquisition of capital assets


Principal Vs Agent - Revenue (Gross or Net?) as per Ind-AS/ IFRS


Many times Goods and Services are being sold rendered by using different kind of arrangements entities based on terms and conditions which could change Revenue Recognition criteria in its entirety and a careful assessment is always required because if any incorrect assessment is done it could have a


GST rollout deferred to 1st July,2017


16 01 2017 is a significant milestone and breakthrough for GST in India The Centre and the states reached a consensus on the dual control issues on Monday i e 16 01 2017 preparing ground for the rollout of the biggest tax reform from 1 July as said Finance Minister Arun Jaitley The states would do 5


ST burden can be passed on by agreement but revenue cannot be asked to wait for recovery of tax dues


Delhi Transport Corporation Vs Commissioner Service Tax TS 411 SC 2016 ST Recently the Honble Supreme Court has dismissed the review petition filed by the Delhi Transport Corporation the Petitioner or DTC against ruling of the Honble High Court of Delhi in the case of Delhi Transport Corporation Vs


GST Council mulls four rate slabs and 14% revenue growth assumed for States


The objective is that the rate structure should not lead to any further retail inflation The Centre and the States should have adequate revenue and it should also put the least possible burden on the taxpay Shri Arun Jaitley Honble Finance Minister Moving swiftly on the road to formalising the bigge


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Updated on : 6/24/2017 1:34:14 AM


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