GST is a combination of Central and State Taxes and it was introduced to bring one tax system in India, a concept developed by Bharatiya Janta Party (BJP) under the rule of Shri Narendra Modi, the Prime Minister of India. Here in this article, we go through What is GST? Different GST Tax Slabs and GST [...]
As soon as a business is started, it becomes a juristic person in front of the law. It has its own name and property. It is a separate legal entity which is distinct from its members who incorporate it. On formation, All the business entity doing business in India are required to filled business return [...]
Tax is an exercise undertaken to minimize tax liability through the best use of all available allowances, deductions, exclusions, exemptions etc., to reduce income and/or capital gain. Tax Planning Tax management involves compliances of law regularly and timely as well as the arrangement of the affairs of the business in such manner that it reduces [...]
Every dealer who immediately before the appointed day, holds a valid or effective certificate of registration or license under any of the earlier laws and is liable to pay tax if his turnover of sales and purchase in the said year has exceeded rupees one lakh is liable to pay tax in accordance with the [...]
In the context of saving Tax, there are three commonly used practices - Tax Evasion Tax Avoidance Tax Planning Now let us understand what actually is the above three practices. Tax Evasion It refers to a situation where a person tries to reduce his tax liability by deliberately suppressing the income or by inflating the [...]
Value Added Tax in India is a state multi point tax on value addition which is collected at different stages of sales with a provision for set-off for tax paid at the previous stage. i.e. tax paid on inputs. It is to be levied as a proportion of the value added (i.e. sales-purchase) which equivalent [...]
Goods and service tax much-awaited indirect tax reforms in the Indian history. GST simply refers to “single taxation” system. The main aim of GST is to abolish indirect taxes and only levy tax on Goods and services. Any person who is providing or supplying goods and services are liable to pay GST. 16 years in [...]
After months of work and dedication are now finally moving to our new office at Badnera and we are pleased to inform you that October 21, 2014 is set as the official opening date. Stay tuned for not just new office photos, pictures, images but also Chartered Accountant News, CA Services at our blog.