Enhancing quality of life, standard of living, and sustainability: a holistic perspective
In today's fast-paced world, the generation of the information age is driven by a desire for more than mere survival. We yearn for fulfilling lives, characterized by comfort, happiness, and a sustainable environment. The concepts of quality of life, standard of living, and sustainability resonate deeply with us. In this blog, we will delve into these aspects, exploring their meaning, interconnections, and how we can enhance them for a more holistic existence that aligns with our aspirations.
Read MoreThe saas revolution: empowering businesses through software as a service
SaaS stands for Software as a Service. SaaS companies are businesses that provide software applications and services to customers through a subscription model. Instead of purchasing and installing software directly on their computers or servers, customers access and use the software over the internet. SaaS companies typically host the software on their own servers and handle tasks such as maintenance, updates, security, and data storage. Customers can access the software through web browsers or
Read MoreThe value chain: understanding the key activities that drive business success
Value Chain: In the world of business, success is often driven by the ability to create value for customers. Behind the scenes, a complex series of activities takes place to deliver products or services and satisfy customer needs. This process is known as the value chain. In this article, we will explore the key activities within the value chain and understand their importance in driving business success.
Read MoreThe importance and contribution of cma professionals in the indian economy
Introduction: CMA (Cost and Management Accountants) professionals hold a significant position in the Indian economy, making vital contributions across diverse sectors. Their expertise in financial planning, cost management, strategic decision-making, compliance, and governance plays a crucial role in driving economic growth and stability. In this blog post, we will delve into the importance and substantial contribution of CMA professionals in shaping the Indian economy.
Read MoreA taxing tale: navigating the fiscal skies
A Taxing Tale: Navigating the Fiscal Skies In India, tax complications arise, As we navigate through fiscal skies, At every step, tax seems to appear, evied upon us, year after year. From the moment we earn our first pay, Income tax takes its rightful way, Our hard-earned money, it claims a share, To fund the nation's welfare and care.
Read MoreAbout section 8 company
A Section 8 Company is licensed under section 8 of companies Act 2013 as a Non-Profit Organization (NPO) formed with the objective to promote social welfare, charitable activities, religion, environmental protection, arts, science, commerce, sports, education, research, etc. and meeting objectives of the organization towards the society at large.
Read MoreWhat is a private limited company
A private limited company is a business entity in "private" ownership. Members’ contribution constitute the registered capital in a Private Limited Company and the liability of the members is limited to the amount of their registered capital which is amount of shares held by them. Shares of a Private Limited Company cannot be publically traded.
Read MoreChanges in gst law effective from january 1st 2022
Blocking of GSTR-1 for non-filing of GSTR 3B:- GSTR-1 return filing facility will be blocked on failing of submitting GSTR 3B for two previous periods. GST Provision related to Input Tax Credit to the recipient:- The provisions of Section 16 of the CGST Act has been amended wherein clause 16(2) (aa) inserted. As per this provision, the details of the purchase invoice or debit note referred to in clause (a) should be furnished by the supplier in the statement of outward supplies (i.e. GSTR...
Read MoreSummary of key decisions in 43rd gst council meeting
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance & States/ UTs. The GST Council has made the following recommendations relating to changes in GST rates on supply of goods and services and cha...
Read MoreGstn: downloading document-wise details of table 8a of form gstr-9
1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help the taxpayer in reconciling the values appearing in Table 8A of Form GSTR 9, thus facilitate filling the Form GSTR 9.
Read MoreNon payment of gst on services provided to the employees without consideration
Where the taxable person provides Canteen Services, Uniform, Accommodation/Housing and Conveyance Services to their employees free of charge. Free Canteen Services:- The company provides the canteen services to the employees as per company policy as part of perquisites which is emanating from contractual obligations or as per statutory requirement under factories Act 1948 which specify that factory wherein more than two hundred and fifty workers are ordinarily employed, a canteen or canteens sh
Read MoreNon payment of gst on services provided to the employees with nominal consideration
Where the taxable person provides Canteen Services and Conveyance services to their employees by charging a nominal consideration.
Read More
Sblc or corporate guarantee provided by parent company to indian subsidiary - gst perspective
The guarantor, who is a parent company agreeing to perform the legal obligation by taking over the payments of the loan if the subsidiary is unable to perform its obligation The lender, who is a banking company to whom the debt is owed The debtor, the subsidiary company receiving the money and who is responsible to pay back the loan. The act of providing a corporate guarantee is the service provided by the parent company to its subsidiary hence qualifies as an import of services and l
Read More
Budgetary control in an organisation: an in-depth analysis
Budgetary control is a system for establishing the best estimate budget for each function of an organisation by management in terms of expenditure and revenue. The purpose is to know the variance between actual and budgeted results with an objective to control various costs within a particular period. The budget enables the evaluation of an organisation’s financial efficiency and planning. The shape and structure of budgetary control system, to a great extent, is determined by the size and
Read More
Provisions regarding tcs applicable from 1st october, 2020
Provisions regarding TCS applicable from 1st April, 2020: TCS (Tax collection at source) is covered under Section 206(C) of Income Tax Act’1961. Tax collected at source (TCS) is a tax which is collected by a seller from it’s buyer for a transaction covered under TCS provision. Following are the list of existing applicable rate of TCS under section 206 (C) in which no changes is proposed Vide Finance Bill 2020 ('FB 2020'),
Read More