Introduction ISO stands for International Organization for Standardization. It is an Independent, non-government international organization with a membership of 165 national standards bodies which develop standards to ensure the quality, safety and efficiency of products and services. With ISO Standards, the consumers can have confidence that the products are safe, reliable and of good quality. …
Month: June 2021
Conversion of Partnership firm into Private Limited – Why, Pre- requisites, Taxation Benefits & Impact and Procedure
Why: Most of the business started as sole proprietorship or partnership firm due to its easy & lesser compliance and low cost. Although, once the business grows enough in terms of revenue, profit, operation area, number of employees, it would become obvious to convert the same into private limited company considering under mentioned: Separate Legal …
Audit: Items/Income other than Sales/Service Receipt – GST Implication
There are many items which has different treatment in Income tax v/s treatment under GST Laws. So while auditing we should careful about the same. As per charging section of GST act, GST shall be levied on supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption. Supply …