Supply chain financing, as the name suggests, refers to business funding available to aide the supply chain process of business. It is a technology-based business and financing processes that link the various parties in a transaction—buyer, seller, and financing institution— in order to lower financing costs and improve business efficiency. The primary function of supply chain finance is to provide short-term credit that optimizes working … Continue reading Supply Chain Finance: All You Need to Know About It
The ICAI (Institute of Chartered Accountants of India) along with the Professional Development Committee has made the overall process of registering a CA firm quite simple and seamless. With the instant process, the registration process will take only 24 hours. If you are looking for solutions on how to register CA firm for yourself, you can head to the official website of the Professional Development … Continue reading How To Register A CA Firm In India?
CA Articleship is a three-year practical training for students to work on certain real-time assignments for real employers. What work is done in CA Articleship? 1. Taxation A) Direct Taxes Deductions Return filing Scrutiny Tax Planning B) Indirect Taxes Indirect Tax Planning Return filing for GST Fighting case based on a person’s business 2. Law A) Companies Act: Incorporation ROC Work AGM and other compliances … Continue reading Here is How to Find the Best Firm for Your CA Articleship?
A CA firm like most firm needs to operate in a professional manner, to be successful. Most charted accounts ponder on how they can grow their CA firm. Here are a few steps you could follow: Expand your Network As a CA practitioner, many times workflows through your own network. Exchange your cards across social gatherings, business meetings, and seminars and more. Connect with people, … Continue reading Important Tips to Grow CA Firm and Its practice in 2019
Experts feel that the recent changes declared in the 32nd GST Council meet would complicate tax structure but spell convenience for small and mid-sized enterprises (SMEs). During its meet, the Council raised the minimum threshold limit for GST registration from Rs. 10 lakh to Rs. 20 lakh for hilly and north eastern states, while for others it was raised to Rs. 40 lakh from Rs. … Continue reading Changes in GST could Complicate Tax System but Boost SMEs
A trade circular titled “43T of 2017” by the Maharashtra Government notified all business to display their GSTIN in front of their principal places and additional places or face a penalty of Rs. 25,000. The Commissioner of Sales Tax, Rajiv Jalota issued this circular and said that businesses have to show their GST Identification Number in bold lettering to make it visible for all venders/customers. … Continue reading Mandates On GSTIN Display Penalty On Non-Compliance By Maharashtra Government
In India, the Income-tax Act entails the rules and regulations to follow, for computation of tax. The Act establishes different tax slabs for calculating the taxes for a person based on different categories. Every year the slab rates are finalized in the Union Budget. Depending upon the income earned by a person the slab rates vary, and so does the tax. Tax Slabs The tax … Continue reading Here are Steps for Calculating Income Tax
Did you know that there is nothing permanent in this world other than taxes and death? There even is an old saying about the same. However, a few months back BJP MP Subramanian Swamy pitched for abolition of Income Tax to ease the burden on the middle class and promote higher economic growth in the country. As a result you won’t need to pay any … Continue reading Here’s Why the Income Tax System in India Should not be Abolished
Goods and Services Tax (GST) has been one of the major reforms in India. This tax has levied many indirect taxes on various Micro, Small and Medium Enterprises (MSMEs) by State and Centre Government, including VAT, service tax and excise. However, there are both pros and cons of implying GST on MSMEs: Pros: The major advantage of GST benefits according to 2019 Interim Budget is … Continue reading What are the Pros and Cons of GST for MSMEs in Indian Budget 2019?
While the advantages of GST in India are still being debated, the GST Council in its 32nd meet has proposed some major changes. The Council has increased the Goods and services tax exemption limit from the current Rs. 20 lakh to Rs. 40 lakh for other states, while doubling the exemption limit to Rs. 20 lakh from Rs. 10 lakh for hilly and north eastern … Continue reading What are the Advantages of GST in India After New GST Exemption Limit?