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Tax on Exempted Goods in Composition Scheme

In this blog, we will be discussing payment of Tax on Exempted Goods in Composition Scheme under section 10 of GST Act 2017. Do read the complete blog for complete information. GST Composition Scheme Turnover Limit 2021-22 A taxpayer whose aggregate turnover* is up to Rs 1.5 crore can opt for Composition Scheme.  In case of …

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OYO denied Reports of Bankruptcy

What the Founder of OYO, Ritesh Agarwal said OYO denied reports of the company filing for bankruptcyIn a tweet, Agarwal said: “There is a PDF and text message circulating that claims Oyo has filed for bankruptcy. This is absolutely untrue and inaccurate.” Oyo founder Ritesh Agarwal on Wednesday denied reports of the company filing for bankruptcy. …

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Features and Motives of Fake Invoices

gst, covid relief

Potential Motives of using Fake Invoices An illustrative motive of generating and using a fake invoice is as follows: Evasion of GST on sales by: a) Availing undue ITC b) Saving GST (cash) by payment of tax liability using undue ITC c) Clandestine supply without invoices and without payment of taxes Converting excess ITC into …

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International Perspective on GST/VAT | About GST

taxes, tax consultant, tax return

VAT and GST are used interchangeably as the latter denotes comprehensiveness of VAT by coverage of goods and services. France was the first country to implement VAT, in 1954. Presently, more than 160 countries have implemented GST / VAT in some form or the other. The most popular form of VAT is where taxes paid …

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What is Regulatory Cost?

insurance, damage, repair

Meaning of Regulatory Cost Regulatory Cost is the expenses incurred by a person for maintaining compliance or regulatory documentation or for taking approvals, including any filing fees. Regulatory costs arise due to changes made in policies and procedures by the regulators (i.e. SEBI, RBI, IRDA, Central & State Government, etc.). It also includes the withdrawal …

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Are Bulls taking charge of Bears? | Stock Market Analysis

Introduction On Friday NIFTY closes 182.40 points up and 1.27% above the previous closing price. This raises the question: Are bears losing their grip or on Friday we saw a small correction? On Friday market opens on a positive side with 127-point gains and then closes after gaining 181 points. In the early hours of …

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What is the Mission, Vision & Objectives of a Company?

vision, mission, goal

Management’s Job is not to see the company as it is, but as it can become The Vision Introduction to Vision While making the strategical business strategy, the management of the company should address the issue the path that the company should take. Analyzing the changes in the PMCT (Product-Market-Customer-technology) will improve the current market …

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