CAclubindia Articles

MSME: Classification & Role in the Country as of 2023

Aisha 22 September 2023 at 13:32

MSME stands for Micro, Small, and Medium Enterprises, which categorizes businesses based on their size and investment levels. Micro is the smallest, Small is a bit bigger, and Medium is larger.

Section 74 of CGST Act 2017: Tax Discrepancy Due to Fraud and Misstatements

Niyati 22 September 2023 at 12:34

Section 74 of the CGST Act 2017 deals with the determination of tax discrepancies, such as unpaid or underpaid taxes, erroneous refunds, or wrongly claimed input tax credit.

Practical Application of GST on Gaming & Gambling vide Rule 31B & Rule 31C: Explanation with examples

Vivek Jalan 22 September 2023 at 09:10

Rule 31B of The CGST Rules inserted vide Not No 45/2023, provides for determining the Value of supply in case of online gaming including online money gaming

Peer Review of Practicing Company Secretaries (PCS)

Affluence Advisory 22 September 2023 at 09:10

Peer Review is a process used for examining the work performed by one's equals (peers) and understanding the systems, practices, and procedures followed by the Practice Unit, and giving suggestions, if any, for further improvement.

FAQs released for filing Form 10B/10BB (AY 2023-24)

CA Ruby Bansal 22 September 2023 at 09:02

Income Tax Department releases FAQs for filing Form 10B and 10BB

Understanding Tax Evasion and Tax Avoidance

Naveen Kumar 21 September 2023 at 08:54

Tax avoidance and tax evasion are both related to the non-payment or reduction of taxes, but they differ in legality and intention.

Taxes on Slot Machine Winnings: Everything You Need to Know

Ayush 20 September 2023 at 11:43

Picture this: You're at your favourite casino, the reels are spinning, the lights are flashing, and then it happens—a winning combination. The slot ma

Understanding GST Summons: Your Rights, Duties and Validity

Abhishek Raja 20 September 2023 at 08:53

In this article, we will delve into the concept of GST summons, including what they are, how they work within the legal framework, and what your rights and duties are when you receive a summons. We will also discuss the validity of summonses and the importance of understanding how they function in the GST system.

Revenue Vs Capital Expenditure & Depreciation on Capital Expenditure: The argument continues

Vivek Jalan 20 September 2023 at 08:53

By terminating the services of a vendor, an assessee may intend to save the expense that it would have had to incur in the relevant previous year as well as for few more years going ahead. However, it cannot be said that this saving is an enduring benefit or has resulted in creating an asset.