If you’re venturing into starting a replacement business, you’re presumably to listen to the terms accounting. Accounting are often a difficult task and a stressful task, especially for start-ups. What is accounting? The process of keeping a record of your business’s financial transactions is termed as accounting. the method of Accounting includes a series of …
Who Needs to Register for GST in India
A ‘taxable person’ under GST, may be a one that carries on any business at anywhere in India and who is registered or required to be registered under the GST Act. a person who engages in economic activity including trade and commerce is treated as a taxable person. ‘Person’ here includes individuals, HUF, company, firm, …
Payroll Outsourcing – An Ultimate Guide
A payroll may be a financial record of salaries paid to an employee as wages, bonus or deduction. it’s given for the work done during a specific period of your time . Payroll processing involves tedious routine work. Outsourcing this process allows you to specialise in growing your business. Save cost, specialise in core tasks …
Circumstances When Goods can be Detained Under GST
Any transportation or movements of goods valuing more than Rupees 50,000 by a listed person must be convoyed by an e-way bill. The proper officer has the power sanctioned by the Centre Government or State Government to interrupt goods in transit. The person in charge of a vehicle loading goods more than Rupees 50,000 is …
Announcements by FM in Wake of COVID-19
India is facing an enormous decline in government revenues and growth of the income as coronavirus hits economic activities of the country as an entire . A fall in investor sentiment impacts privatization plans, government, and industry. to enhance the economy, few steps were required to be taken thus the Indian government announced many reforms …
Payroll Services in India – Introduction
Your search for the best payroll consultants in Delhi ends right here! SCBC is a premium agency offering payroll services in Delhi. One of the most important processes in any organisation is processing salary for employees. This process is more than just crediting salary in the employees’ accounts. The admin or the HR needs to …
ACCOUNTING AND BOOKKEEPING SERVICES IN INDIA
Accounting and bookkeeping services in India are often taken as same services in business. tons of minds would be within the dilemma of “Isn’t a bookkeeper an accountant?”. Well, there’s an enormous difference in both terms. So, what’s the difference between a bookkeeping service and accounting service? Difference between Bookkeeper and Accountant So the major …
GST Refund Applicability, Time Limit & Procedure
GST is an indirect tax which ultimately becomes the revenue of government when the product/service is consumed by the end consumer. Government allows the GST Refund to promote the exports and to make Indian exporters competent to the global market. So, except some exceptional circumstances GST refund is applicable on the exports. Any eligible GST …
GST Audit – Applicability & Scope
GST is a trust based indirect tax in which assesse himself calculates and discharge his tax liability. So to check the veracity of tax liability assessed by assesse and compliances with GST Act and rules, Section 65, 66 and 35(5) of CGST act provides for GST Audit by Tax Authorities, Special GST Audit and Turnover …
Cash Transaction – Limit & Consequences of Non-Compliance under Income Tax Act
Cash transaction leaves no trail of the payer that causes tax evasion & black money. It affects the Indian economy by dual aspect one is revenue deficit to government and another one is unaccounted money that cannot flow in the economy. Both of these problems terribly effects the development of a country. That’s why government …