CAclubindia Articles

Exemption for small scale units (SSI) under central excise

Posted by CA Gagandeep Singh Kochar 26 April 2021 18968 Views

Meaning of Small Scale Exemption.Under the provisions of the Central Excise Act a Small Scale Industry is one whose aggregate value of Turnover does not exceed Rs. One Hundred and Fifty Lakhs made on or after the 1st day of April

Is it justified to collect service tax on penalty charged?

Posted by Akarsh Tekriwal 11 September 2015 59127 Views

Telecom companies and Banks are charging service tax on late payment charges, Penalties, Penal interests, etc. If you credit card bill has a late payment charge of Rs.1000 on which Rs.140 will be charged as service tax. Service tax is to be charged

How to tackle with income tax notices

Posted by naveen 10 September 2015 34197 Views

Many of my family members & friends are receiving notices from Income tax department; usually any communication from the Income Tax department, especially receiving a notice from them, can send shivers down anyone's spine. A majority of the n

Understanding of various IT Assessments

Posted by CA Chinmay Gangwal 10 September 2015 22768 Views

What is meant by Assessment? Assessment defined as �Assessment Includes Re- Assessment and checking return of income for confirming its correctness�.

Life is short, do what you want

Posted by Nimish Goel 10 September 2015 21232 Views

As I write this blog post, my father is admitted in the hospital diagnosed with �triple vessel disease�. The doctors say all the three arteries in his heart are blocked and because the heart is not functioning properly, they cannot do an

Cash discount under Excise valuation - SC Judgement and its analysis

Posted by Yash Goyal 08 September 2015 29026 Views

Dear All,In this article, I have discussed a recent judgement of the Supreme court and also shared my views / confusion in regards to the same. Request the readers to express their valuable views in this regard. Introduction:It is a common industry p

There is rate change 'Return Utility' - No more utility

Posted by Pradeep Jain 08 September 2015 10231 Views

Introduction:-“Online” - the most used word in modern world; whether it is a “person” or a “procedure”, everyone and everything is online now. Compliance procedures of most of the legal provisions have become onlin

Dreams turning to reality

Posted by Sanat Biswal 08 September 2015 16370 Views

Phase-1(CPT)1.Preparation daysI had earlier mentioned in my previous post that I had joined CA amidst so much difficulties and confusion about what to do next in life.It w

One life changing decision

Posted by Sanat Biswal 08 September 2015 21271 Views

CA!!! ARE YOU REALLY SERIOUS??? Yes..it was exactly what I heard when I asked about CA.It was an extremely tough period for me to decide which path to choose given the circumstances.I had been a decent student all throughout

Can we visualise an Indian Multinational Firm of Chartered Accountants?

Posted by Mahavir Kapshe 07 September 2015 12761 Views

Whether needed ?It is need of the society to have �ONE STOP SOLUTIONS� with expert level, quality services equipped with international exposure and technology to help businesses, add to ease of doing business, provide inputs to the Busine