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Amendment in Indirect tax for IPC exams
Basic Concepts of Service Tax Amendments by Finance Act, 2015: 1. (i) Service tax rate enhanced from 12% to 14% and(ii) Levy of education cesses on taxable services ceased to have effect [Section 66B]Thus, the new service tax rate has come into effec
All you need to know about Quantitative Easing and Tapering
In the recent times, Quantitative Easing policy of the US Federal Reserve has gained a lot of attention from businesses, investors and stock markets the world over. This has generated curiosity in the minds of many as to what it actually
Indian Economic Turbulence - A Comparative View
Finance Minister Pranab Mukherjee on Wednesday, 23rd May 2012, assured Parliament that India's growth story remained intact despite Euro zone crisis and Greece turmoil. Mr. Mukherjee attributed the downward trend in the share markets to the glob
REVENUE RECOGNITION
Revenue Recognition Principle Revenues are recognized when (a) realized or realizable and (b) earned. [SFAC No. 5, Para. 83] Revenues --> not recognized un
Whether Form 'C' should be made available to an assessee even after GST?
Introduction: On July 1, 2017, India ushered the Goods and Service Tax, the country�s biggest indirect tax reform since Independence and now GST has compl
What is GST Annual Return or GST Audit?
As per Rule 80 of the CGST Rules, 2017, every registered person liable to file annual return for every financial year is required to file the same on or before the 31st of December of the next financial year.
Taking up a career as a Company Secretary
A qualified CS can either be employed by a company or can start his/her own practice. A company secretary starting his/her own practice requires a Certificate from The Institute of Company Secretary India (ICSI). Students who manage to complete the
Scrapping the Apex Court decision on Scrap
Introduction: - The Central Excise duty is leviable on the process of "manufacture". Any process that brings a new article into existence with different name, character and use is known as manufacturing activity. For levying duty on any article it mu
Guide to ITR-1 for the AY 2018-19
Almost after 55days of commencement of FY, Income Tax department made ITR forms available for filing Income Tax Returns for
Government notifies new income tax return forms for FY 2015-16
In briefThe Central Board of Direct Taxes has notified Income-tax return forms applicable for the financial year (FY) 2015-16 (assessment year 2016-17). There are no major changes in the forms compared to last year. The key amendments in the forms pe
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