CAclubindia Articles

TDS and TCS on purchase and sale of goods

CA. Arpan Jain 18 June 2021 at 09:47

TDS u/s 194Q, which was introduced via Finance 2021 has a stark similarity to Section 206C (1H) which was introduced in Finance Act 2020. Let us understand the difference between the two.

Ultimate Revelation Of The GST Software Industry

Aftab Vasiwala 18 June 2021 at 09:47

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.

MSME Relaxation: Extension of Validity of UAMs till 31st Dec 2021

CS Lalit Rajput 18 June 2021 at 09:47

This will help EM Part-II and UAMs certificate holders to avail benefits of the provisions under various existing schemes and incentives including Priority Sector Lending benefits of MSME.

Recent Changes in the Companies Act w.r.t Board Meetings

Karthik Potharaju 17 June 2021 at 16:53

The recent amendment of Companies (Meeting of Board and Its Powers) Amendment rules, 2021 is the right move by MCA which will further ease the conduction of board meetings through VC & OAVM.

Formal Education Vs Self Education

CMA Mrudula M 17 June 2021 at 16:48

Formal education provides us with the fundamentals of entering the professional life however, to sustain our presence and even excel - one must rely on enhancing skills through self-education.

An Analysis of TDS u/s 194Q

CA Sudhir Halakhandi 17 June 2021 at 14:26

TDS at the rate of 0.1% is to be deducted on the amount exceeding Rs. 50 lakhs in any one FY from one seller from whom the buyer has purchased goods worth more than Rs. 50 lakhs.

Did you know all about e-way bill concept and related provision under GST?

CAJayprakash Pandey 17 June 2021 at 11:51

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).

What is Cost Inflation Index?

Neethi V. Kannanth 17 June 2021 at 10:13

Cost Inflation Index means an index, having regard to seventy-five percent of average rise in the Consumer Price Index (urban) for the immediately preceding PY to such PY.

GST Rate reduction related to Covid related goods

Rohit Kumar Singh 17 June 2021 at 10:13

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.

An insight into Composition Levy: Sec 10 of CGST Act 2017

Vaibhav Singh 17 June 2021 at 10:12

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.