The pandemic has brought the focus on the importance of cost management of resources. In this article, we have answered queries which a company can have with regard to cost records applicability, or cost audit.
Merely having a University/Educational Institution is not sufficient for applicability of Notification No. 45/2017 - Central Tax (Rate) and 47/2017 - Integrated Tax (Rate), for applicability of concessional tax rate of 5%.
The most well-engineered fraud which is being committed by the miscreants is the fraudulent availment and transfer of ITC by way of creating fictitious firms, the cases of which have almost reached the ceiling by now.
GST software automates the return generation and provides single login for all the GSTINs and offers extensive support which is reduced to the return filing time.
An E-Way Bill is required for the movement of goods. It helps to identify the movement of goods at every state and thus helps prevent tax evasion (If the bill is not accounted for either by the seller or buyer).
Pursuant to the GST Council recommendations in their 44th meeting held on 12th June 2021, CBIC has issued notifications relaxing the GST rate on goods being used in COVID-19 relief and management.
To lower the burden of compliance for small businesses, a composition scheme has been introduced under GST law where the assessee has to pay tax at a minimum rate based on their turnover.
This document discusses the relief available against order passed by Appellate Authority for Advance Ruling (AAAR) through a study of Constitution of India and varied judgements in this regard.
The 44th GST Council met on 12th June 2021 to reduce the GST rates on the specified items being used in Covid-19 relief and management like hand sanitisers, face masks, gloves, PPE Kits, temperature scanners etc.
Buying and selling of cryptocurrencies will be considered under the category of supply of goods. Other related facilitating transactions will be counted under services and these would include supply, transfer, storage, and accounting etc.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
SMJ global advisors pvt ltd
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B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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Shyam Joshi & Associates
Pune
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