Category: Finance

Finance

Important Tips to Grow CA Firm and Its practice in 2019

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

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Finance

Changes in GST could Complicate Tax System but Boost SMEs

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

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Finance

Mandates On GSTIN Display Penalty On Non-Compliance By Maharashtra Government

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

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Finance

Here are Steps for Calculating Income Tax

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

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Finance

Here’s Why the Income Tax System in India Should not be Abolished

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

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Finance

What are the Pros and Cons of GST for MSMEs in Indian Budget 2019?

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?

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Finance

What are the Advantages of GST in India After New GST Exemption Limit?

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?

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Finance

Managing Work Capital Cycle of a company

Working capital of a business venture is the ongoing liquidity of it that can be availed and used for funding daily operations. Basically, it is the amount of cash that the company has at hand for executing a process that takes place regularly. For running a smooth sailing business working capital is essential as it is profoundly related to the financial well-being of the enterprise. … Continue reading Managing Work Capital Cycle of a company

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Finance

Pros and Cons of GST for Startups

The Goods and Service Tax (GST) came into effect on June 30, 2017 amidst numerous controversies. While on one hand, economists said that GST would bring nothing else than inflation, others claimed that it will make the economy healthier than ever. Now, irrespective of the claims and actual consequences, the business sector has been widely affected in both negative and positive ways. Let’s take the … Continue reading Pros and Cons of GST for Startups

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Finance

Know the role of chartered accountant in Indian Business Economy?

Chartered Accountants are specialists who handle account related activities for the business. In India, CA has high demand whose primary role is to provide an insight into the companies and help them to sustain and initiate the finance. They help in tax planning, forecasting, budget mapping, bookkeeping and capital management along with various other important financial activities. With so many roles to play, the importance … Continue reading Know the role of chartered accountant in Indian Business Economy?

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