CAclubindia Articles

Taxability of Goods Transport Agency

Manikanta Raju CA,CWA,(CS) 18 December 2009 at 18:54

IntroductionGTA -“This taxable service means any person who provides service in relation to transport of goods by road and issues consignment note by whatever name called”Goods Carriage –any motor vehicle constructed or adapted for

EOU and its audit procedure

Manikanta Raju CA,CWA,(CS) 18 December 2009 at 18:54

Brief introduction of Export Oriented Unit (EOU):Units undertaking to export their entire production of goods and services (except permissible sales in the DTA), may be set up under the Export Oriented Unit (EOU) for manufacture of goods, including r

A Primer on Proposed Tax System on Goods and Services

CA Pradip Shah 18 December 2009 at 18:53

A Primer on Proposed Tax System on Goods and ServicesPart-I: Basic Concept and FrameworkBy CA. Pradip R Shahe-mail: pradip@pradiprshah.com Introduction:With the release of the First Discussion Paper (FDP) by the Empowered Committee (EC) on the propo

A breif note on IT scrutiny

Manikanta Raju CA,CWA,(CS) 18 December 2009 at 18:53

The below mentioned article broadly covers all important aspects relating to scrutiny proceedings carried out u/s 143(2)/(3) of the Income Act 1961. What is a scrutiny? It is not possible to the Income Tax Department to make regular assessment of al

The Big 5 Cost Reduction Tactics

Prashant 17 December 2009 at 13:54

As we near the end of 2009 which has been a very difficult year for employers and employees alike, I am taking this opportunity to list the Five Most Commonly Used Cost Reduction Tactics for 2008 and 2009. Many businesses have applied more than one

Clarifications to issues some of the issues relating to TDS:

CA Anand Sarda 17 December 2009 at 13:51

Clarifications to issues some of the issues relating to TDS: 1) Whether capitalization of interest payable attracts TDS U/S 194A?A) Yes, Capitalization of interest payable attracts the provisions of TDS. TDS is to be made on interest payment regardl

Cheap money is here to stay

Equitymaster 17 December 2009 at 13:51

It is that time of the year again when the US central bank takes a call on what yield most asset classes around the world should trade at. And it appears near certain that the status quo is going to be maintained. The Fed is expected to announce its

Accounting & Taxation Impacts of Cert. Emission Reductions

CA. Rishabh Mittal 17 December 2009 at 13:50

ACCOUNTING ASPECTSICAI has already issued Guidance Note on Accounting for Self Generated CER’s & it is made effective from 01st July, 2009. It mainly focuses on recognition of CER’s in financial statements. Here, we’ll discuss

A Study on GST`

CA Ayush Agarwal 17 December 2009 at 13:49

Hey All Members, I am Trying to Present a Brief Study on GST which will Be applicable From 01/14/2010BackgroundThe effort to introduce the new tax regime was reflected, for the first time, in 2006-2007 Union Budget Speech. The then Finance Minister M

Financing of exports by banks (Packing Credit)

CA.Parsun Garg 16 December 2009 at 13:57

Financing of exports by banks: Advances by commercial banks for export financing are in the form of:a) Pre-shipment finance i .e. before shipment of goods : This usually, takes the form of packing credit facility, which is an advance extended by bank