CMA or Certified Management Accountant is the exam conducted by the ICAI. The exams are being conducted every year in June and December. According to the newly released guidelines by ICAI, the exam pattern of CMA for 2021 has been amended. Continue reading “Change in Exam Pattern For CMA India – Offline to Online”
Elective Subjects in CA Finals – Which Elective Subject Should a Student Choose
The CA Final Elective paper was introduced by ICAI in 2018. This states that in 6th paper, CA aspirants can select a subject of their choice among the six given choices. The purpose behind this change was to bring a qualitative reform in the education system. Continue reading “Elective Subjects in CA Finals – Which Elective Subject Should a Student Choose”
Which Subject is More Difficult in CA Intermediate? – Everything you Need to Know
As we all know that opinions on the question about the most difficult subject in CA Intermediate may vary from person to person which is quite obvious. Since every student has its own qualities and skills, the subject interest changes from one individual to another.
Continue reading “Which Subject is More Difficult in CA Intermediate? – Everything you Need to Know”
Best Faculty for CA Final Direct Tax – Bhawar Borna Sir – Crack the Exam in First Attempt Score Exemption
Are you too in your Finals of CA and wishing to clear it in first attempt? Are you worried about your grades in Direct Tax? If yes, then the duration of reading this information can be the life changing point for you. The CA finals can be considered as the most crucial period for any CA aspirant. The stress in this period is very general.
Continue reading “Best Faculty for CA Final Direct Tax – Bhawar Borna Sir – Crack the Exam in First Attempt Score Exemption”
New GST return mechanism – Challenges ahead
GST and Taxation for MSMEs: The Goods and Services Tax (GST), was introduced as a single, straightforward tax system to replace multiple indirect taxes. The GST has served as an efficient tax system by bringing in more transparency and streamlining the tax filing process for both the government and the taxpayers. In order to simplify the compliance procedure further for GST-registered businesses, the 31st GST Council meeting proposed a new return system. Continue reading “New GST return mechanism – Challenges ahead”
Whether GST payable on director’s remuneration? Recent AAR on the same is disputable…!
Services by employee to employer is outside the ambit of taxable event and not chargeable to GST: Schedule-III of the Central Goods and Services Tax Act, 2017 provides that services by an employee to the employer in the course of or in relation to his employment shall not be treated as supply, and thus no GST would be applicable.
Standard Operating Procedure (SOP) for Non filers of Returns – Latest Circular 20/06/04/2019
Notice in GSTR – 3A for non filers of returns: Section 46 of the CGST Act read with rule 68 of the CGST Rules, 2017 requires issuance of a notice in FORM GSTR-3A to a registered person who fails to furnish return under section 39 or section 44 or section 45 (hereinafter referred to as the “defaulter”) requiring him to furnish such return within fifteen days. Continue reading “Standard Operating Procedure (SOP) for Non filers of Returns – Latest Circular 20/06/04/2019”
Mind Map on Supply u/s 7 of CGST Act
Find below the Section 7(1)(a) of the CGST Act contemplates various forms of supply such as sale, transfer, barter, exchange, license, rental, lease or disposal.
Pure Agent under GST and exclusion of expenditure incurred as pure agent from computation of GST
Introduction:
A pure agent is one who while making a supply to the recipient, also receives and incurs expenditure on some other supply on behalf of the recipient and claims reimbursement (as actual, without adding it to the value of his own supply) for such supplies from the recipient of the main supply. While the relationship between them (provider of service and recipient of service) in respect of the main service is on a principal to principal basis, the relationship between them in respect of other ancillary services is that of a pure agent. Continue reading “Pure Agent under GST and exclusion of expenditure incurred as pure agent from computation of GST”
Will Petroleum products come into the ambit of GST?
Introduction:
Petroleum products have become an indispensable part of our day-to-day life, and we can’t imagine our life without it. But the petroleum prices are sky rocketing. This hike directly or indirectly affects all the major sectors like transportation, textiles, auto, FMCG etc., from 16th June 2017 Government implemented daily revision of fuel cost, which put a burden on consumers. Earlier, the prices were fixed twice in a month, but now the change in price happens at 6 a.m. every morning. Continue reading “Will Petroleum products come into the ambit of GST?”
