CAclubindia Articles

Section 19 of CGST Act 2017: Taking ITC in respect of inputs and capital goods sent for job work

Harsh Kaushik 25 April 2023 at 17:35

Section 19 of the CGST ACT 2017 talks about the availability of input tax credit by the principal in respect of goods sent to the job worker.

Deductions in the new tax regime as per Union Budget 2023-24

Pranab Banerjee 25 April 2023 at 12:52

This article will help you understand some of the exemptions and deductions that are valid under the new tax regime.

Depreciation Rates as per Income Tax Act for FY 2023-24

Mitali 25 April 2023 at 11:57

Under the Income Tax Act, depreciation is allowed as a deductible expense for assets used in business or profession, subject to certain conditions and limitations. The amount of depreciation that can be claimed depends on the asset's useful life, which is determined by the Income Tax Rules.

Crucial Difference Between Bona Fide Non-Compliance and Mala Fide Non-Compliance

Abhishek Raja 25 April 2023 at 09:48

Section 129 of Indian GST Laws: The Crucial Difference Between Bona Fide Non-Compliance and Mala Fide Non-Compliance and How it Affects the Action Taken by the Proper Officer?

Hail! Principles Of Natural Justice!

T.R.Radhakrishnan 25 April 2023 at 09:41

The judgment raises a pertinent point whether it is time to review of the bank recovery Acts to judge how the principles of natural justice is being implemented and make changes, if necessary, as has been done in the aforesaid judgment.

Deductions available under Old vs. New regime of Income Tax

CA. Brijesh Baranwal 25 April 2023 at 08:51

This article covers the deductions available in Old Vs. New tax regime, in brief, should help in making the required choice. This is applicable from 01.04.2023 i.e. for FY 2023-2024 or say AY 2024-2025.

An Overview of IND AS 41

CA Sanat Pyne 25 April 2023 at 08:47

IND AS 41 is a standard issued by the Institute of Chartered Accountants of India (ICAI) that provides guidance on the accounting treatment for agricultural activity. The objective of IND AS 41 is to ensure that the financial statements of entities engaged in agriculture provide relevant and reliable information about their agricultural activities.

How to Claim Refund of GST on Cancelled Flat or Real Estate Property by an Unregistered Dealer

Meghna Jitesh Telisara 25 April 2023 at 08:47

An unregistered buyer who decides to cancel the agreement to purchase a flat can claim GST refund paid by him from the builder or the government depending upon the timeline of the cancellation of such agreement.

Lessons for auditors on professional conduct

Rashmi 24 April 2023 at 14:10

The National Financial Reporting Authority (NFRA) in India has imposed a penalty of ₹300,000 on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company.

Companies need to file MSME payment data before 30th April 2023

CA Umesh Sharma 24 April 2023 at 14:10

Every year, all company taxpayers need to file form MSME-1 by a notification dated 2nd November 2018 but it holds a huge significance this year as the payments would be disallowed by the Income Act authorities if payment is not made within 45 days.