Daily Archives: May 16, 2018

Invoice for Free Sample of goods

By | May 16, 2018

Invoicing of Free Sample of Goods How should free sample of goods be supplied? By raising performa invoice or delivery challan or Bill of Supply or Tax invoice under section 31 of CGST Act with Rs.0.01 value. Note: We receive free sample goods from our supplier and the same is supplied to customers as free… Read More »

Category: GST

No GST if free Services provided by Banks ?

By | May 16, 2018

Free banking services out of GST net: Financial Ministry official Free banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry official said. The Department of Financial Services had approached its revenue counterpart to clear the confusion over the levy of Goods… Read More »

Category: GST

Income Tax Penalty : Free Study Material

By | May 16, 2018

Income Tax Penalty : Free Study Material Here is the Free study material on Income Tax Penalty provisions Various Penalties under Income Tax Act [FA 2018] Income Tax Commissioner power to reduce or waive Penalty Income Tax penalty under New Section 270A Income Tax Act Analysis with Examples section 270A of Income Tax -200% Penalty… Read More »

India and Brunei Darussalam Agreement for Exchange of Tax Information

By | May 16, 2018

Ministry of Finance Cabinet approves signing and ratification of Agreement between India and Brunei Darussalam for the Exchange of Information and Assistance in Collection with respect to Taxes Posted On: 16 MAY 2018 3:39PM by PIB Delhi The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has has approved the signing and ratification of… Read More »

How to do accounting of gratuity due to increased ceiling ? ICAI FAQ

By | May 16, 2018

ICAI FAQ on accounting treatment of increase in liability due to enhancement of the gratuity ceiling The Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) has issued the following FAQ on accounting treatment of increase in liability on account of enhancement of the gratuity ceiling from Rs. 10 lakhs to… Read More »