Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard (ICDS) IV relating to revenue recognition Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” and not for the purpose of maintenance of books… Read More »
Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard III relating to construction contracts Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” and not for the purpose of maintenance of books of… Read More »
Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard II relating to valuation of inventories Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of Business or profession” or “Income from other sources” and not for the purpose of maintenance of books… Read More »
Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 A. Income Computation and Disclosure Standard I relating to accounting policies Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” and not for the purpose of maintenance of books… Read More »
Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard -ICDS- X relating to provisions, contingent liabilities and contingent assets Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” and not for the purpose… Read More »
Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) ICAI issued Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) Download Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)
GST Registration Process Download Other GST PPT Education Guide on Goods & Service Tax (GST) S. No. Title of the Post 1. Goods and Services Tax (GST): An Overview 2 Levy of GST & Exemption from Tax 3. GST Registration 4. Meaning and Scope of Supply 5 Time of Supply 6 Valuation in GST… Read More »
The IT Strategy for GST Empowered Group on IT Infrastructure on GST headed by Shri Nandan Nilekani Preface The broad IT plan for enabling GST was presented to the Government of India and the Empowered Committee of State Finance Ministers under the Chairmanship of Dr. Asim Dasgupta on July 21, 2010. This document is a… Read More »
1. GST applicable on ‘supply’ In GST regime, all ‘supply’ such as sale, transfer, barter, lease, import of services etc of goods and/ or services made for a consideration will attract CGST (to be levied by Centre) and SGST (to be levied by State). As GST will be applicable on ‘supply’ the erstwhile taxable events… Read More »
GST System Architecture Principles GST system is a Government program built as a critical national IT infrastructure and needs to sustain openness in the long run and a program of this scale has never been attempted before. GST system shall be built on the following core principles: 2.1 Platform Approach GST system will be built… Read More »