There was urgent need to provide relief measures to the stressed out taxpayer community. The Government has on 3rd of April 2020 issued 7 Notifications announcing a series of concessions in the matter of compliances and tax payments by the taxpayers. All these 7 Notifications (Nos. 30/2020 to 36/2020-Central Tax) have come in a cluster. Here is an attempt to explain the implications of these Notifications to the taxpayers....
GST Impact on MSME, GST Burden on Medium Small & Minor enterprises 1) Basic Exemption Limit: Under Excise law, the SSI’s enjoy the basic exemption limit up to ? 1.5 crore which itself has been continuing since long time even though inflation has led to increase in prices of various goods/ services over a period of time. Further, under GST, the basic exemption limit has been proposed to be reduced to a very low threshold limit of 20 lakhs....
What is Education? Central Goods and Services Tax Act, 2017 nowhere defines the meaning of Education. The Supreme Court in its decision to “Loka Shikshana Trust vs. Commissioner of Income Tax” has defined Education as the “Process of training and developing knowledge, skill and character of students by normal schooling.” It is necessary that the role of any school or educational institution extends to teach good character and other skills and not restrict by providing only the technical education....
Another fundamental concept under the VAT/CST regime was the taxability of goods sold in the course of import and High Sea Sales. As per Section 5(2) of the Central Sales Tax Act (CST Act), a sale in the course of import was deemed to have taken place when such sale either occasions the import of goods into the territory of India or such sale is effected by transfer of documents of title to the goods before such goods have crossed the customs frontiers of India....
The historic Goods and Services Tax (GST) regime would have already been rolled out, with effect from July 1st 2017. Our Prime Minister said recently on the GST preparedness that it is indeed a turning point in the country’s economy and unprecedented moment in the country’s history. The implementation of this biggest tax reform since independence in the spirit of One Nation, One Market, One Tax will benefit our national economy....
The historic Goods and Services Tax (GST) regime would have already been rolled out, with effect from 1st July 2017. Our Prime Minister said recently on the GST preparedness that it is indeed a turning point in the country’s economy and unprecedented moment in the country’s history. The implementation of this biggest tax reform since independence in the spirit of One Nation, One Market, One Tax will benefit our national economy....
The historic Goods and Services Tax (GST) regime would have already been rolled out, with effect from July 1st 2017. Our Prime Minister said recently on the GST preparedness that it is indeed a turning point in the country’s economy and unprecedented moment in the country’s history. The implementation of this biggest tax reform since independence in the spirit of One Nation, One Market, One Tax will benefit our national economy....
The historic Goods and Services Tax (GST) regime would have already been rolled out, with effect from 1st July 2017. Our Prime Minister said recently on the GST preparedness that it is indeed a turning point in the country’s economy and unprecedented moment in the country’s history. The implementation of this biggest tax reform since independence in the spirit of One Nation, One Market, One Tax will benefit our national economy....
He released his own album, called “Trap House,” on which the song “Icy” was sung by fellow rapper Young Jeezy. Although he gained fame after rapping only, he became a prominent figure in the hip-hop subgenre of trap music because of his personality. He is a renowned figure in the hip-hop genre of trap music, thanks to his Atlanta-based peers, T.I. and Young Jeezy. Gucci Mane Net Worth After releasing his second album, “Hard to Kill,” he did a lot of independent work and studio recording over the next few years....
A History of Gambling in Africa Like any other continent, Africa has a rich history of traditional gaming and betting on the outcome of games. Among the games played in times long past, there are board games, such as Mancala, which involved moving objects across the course of a board, and Dara, an ancient guessing game with sticks that is similar to guessing the number of sweets in a jar. When Europeans came to the country, they introduced many of the commonplace games in online gambling in Africa and the world today....
I bet you haven’t even ever thought of a show solely based on such an unusual topic. We are talking about Netflix’s new original ‘ How to be a cowboy‘ and now let’s dig right in to know more about the scene. In the Netflix original series How to Be a Cowboy, Dale Brisby and his gang of cowboys will introduce us all to being a cowboy on their Radiator Ranch....
ACCA exam To crack the test, you have to ensure that you have a good study plan in place which can be achieved through an effective strategy. Below are some important pointers that can help you cover the ACCA syllabus and perform well in your exams: If you plan a strategic approach for ACCA exam with a structured and thoughtful study plan in place, then you will be able to direct your efforts in an established pattern....
ICSI is the main authority responsible for conducting CS Exams and ICSI release CS Admit Card for CS Professional and CS Executive exams. In this article, you may find complete information regarding ICSI Admit Card August 2021. The Institute of Company Secretary Of India (ICSI) Issued E-Admit Card for CS Professional and CS Executive June 2021 Exams (Held in August 2021), You may Download CS Admit Card August 2021 by Using the Below direct links…...
IGST In Hindi – What is IGST, Integrated GST in Hindi (आई.जी.एस.टी.) आई.जी.एस.टी. दो राज्यों के मध्य होने वाले व्यापार पर निगरानी रखने के लिए एक आई.जी.एस.टी. मॉडल भी तैयार कर प्रस्त्तावित किया गया है जिसकी चर्चा हम आगे कर रहे है लेकिन यह ध्यान रखे कि यह केन्द्रीय बिक्री कर के स्थान पर लगने वाला कोई नया कर (एस.जी.एस.टी. एवं सी.जी.एस.टी. के अतिरिक्त तीसरा कर) नहीं है बल्कि एक ऐसा तंत्र है जिसके जरिये दो राज्यों के बीच हुए व्यापार पर नजर रखी जा सके एवं यह भी सुनिश्चित किया जा सके कि कर का एक हिस्सा उस राज्य को मिले जहाँ अंतिम उपभोक्ता निवास करता है और दूसरा हिस्सा केंद्र सरकार को ....
Imports in GST Duties at the time of import: In the GST regime, IGST and GST Compensation cess will be levied on imports by virtue of subsections (7) &(9) of Section 3 of the Customs Tariff Act, 1975. Barring a few commodities such as pan masala, certain petroleum products which attract levy of CVD, majority of imports would attract levy of IGST. Further, a few products such as aerated waters, tobacco products, motor vehicles etc, would also attract levy of GST Compensation Cess, over and above IGST....
Ind AS 103 does not apply to the following: the formation of a joint arrangementthe acquisition of an asset or group of assets that is not a business as defined acquisition by an investment entity (Though IFRS 3, Business Combination scopes out the accounting for combination of entities or business under common control but Ind AS 103 has included this in Appendix C). Acquisition Method Business combinations are accounted for using the acquisition method, i....
assets that meet the criteria to be classified as held for sale to be measured at the lower of carrying amount and fair value less costs to sell, and depreciation on such assets to cease;assets that meet the criteria to be classified as held for sale to be presented separately in the balance sheet; andthe results of discontinued operations to be presented separately in the statement of profit and The Ind AS 105: adopts the classification ‘held for sale’....
(a) use in the production or supply of goods or services or for administrative purposes; or(b) sale in the ordinary course of business. List of other IndAS Ind AS 40 Investment Property Objective Objective of this standard is to prescribe the accounting treatment for investment property and related disclosure requirement. The critical areas that deserve special attention are : Exercising judgment in the determination of whether or not a property qualifies to be classified and accounted for as Investment propertyReclassification of assets, into and out of the category of investment propertyExtensive disclosures...
Now, the social media platform has released an upgrade targeted at reducing abusive message surges, allowing you to resume sharing greed baits in harmony; here is a breakdown regarding all of it. Instagram announces new feature ‘Limits’ Instagram CEO Adam Mosseri mentioned Limits in a video update to the Instagram community last month, and the business just acknowledged it was testing the new anti-harassment feature. When users are subjected to a barrage of harassment, the tool intends to give them an easy method to shut down their accounts temporarily....
Wmlink/2step on a Walmart Wmlink/2 step on a Walmart is a two-step process users have to open and can access only 2- step verification from the premises of Walmart. It will efficiently work in the case if users want to try it from home. It will not take too much time to finish the process of 2SV once users have put the location in Walmart. Users have to enter Wmlink/2 step verification in the address bar to carry the process....
