moneyandlaws [As per discussions in the 16th GST Council Meeting held on 11th June, 2017] Sub section (1) of section 10 read with sub-section (2) of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person, whose aggregate turnover in the preceding financial year did … Read more
Tax payment under this scheme is an option available to the taxable person. This scheme would be available only to certain eligible taxable persons (conditions / criteria discussed). The taxable person should make an application exercising his option to pay tax under this scheme. There are three possibilities in which such option can be exercised
“GST return” means any return prescribed or otherwise required to be furnished by or under the GST Act or rules made thereunder. The term ‘return’ is used in this law, as under other taxation laws, to refer to a document by which details of transactions are furnished to the relevant tax department.
Executive Director is a person who is employed by the Company while non Executive Director is not employed by the Company. Requirement of composition of Board of Directors for listed company is provided in SEBI(LODR), 2015. Non-Executive Director is an Independent Director. Whereas Nominee director is not an Independent Director.
The Goods and Services Tax (GST) Council fixed tax rates on 1211 items which is summarized below:-
1) No Tax Goods and Services
2) 5% Goods and Services
3) 12% Goods and Services
4) 18% Goods and Services
5) 28% Goods and Services
Some important terms- Central Tax- CGST State Tax- SGST Union territory Tax- UTGST Integrated Tax- IGST (Parliament would have exclusive power to levy GST on inter-State trade or commerce (including imports) in goods or services. (i) GST would be applicable on “supply” of goods or services as against the present concept of tax on the … Read more
GST Updates Hasmukh Adhia said, “Yes, for the services sector the standard rate may move to 18%” but the good thing is that upper limit of income has been increased from 10 lakh to 20 lakh for paying service tax. It means those who are earning above Rs 20 lakh will be required to pay … Read more
TO DOWNLOAD CLICK ON THE LINK GIVEN BELOW:- Draft AOA for Private Limited Company *(Adoption of new set of Articles of Association vide Special Resolution passed at Extra–Ordinary General Meeting of the Company held on _______(Date) THE COMPANIES ACT COMPANY LIMITED BY ARTICLES OF ASSOCIATION OF “XYZ PRIVATE LIMITED” PRELIMINARY … Read more
Some Important Section under “Profits and Gains from Business/Profession” head Click on the link to download pdf file Moneyandlaws Section Summarized Provision 43(6) Money Payable means the sale price, in case of sale, or the insurance, salvage or compensation money payable in respect of the asset. 36(1)(iii) The amount of interest paid in respect … Read more
You can download through link give below:- ICAI Newsletter- MAY 2017 or copy and paste the URL in your browser http://resource.cdn.icai.org/44982stnewsletter-apr17.pdf CA student preparing for CA Final May 2017 Exam must read this journal issued by ICAI. All the very Best for Exam…