Chartered India https://charteredindia.com Sun, 24 Feb 2019 12:32:28 +0000 en hourly 1 https://wordpress.org/?v=5.1.1 Leave Encashment – Tax Treatment for Government & Private Sector Employees https://charteredindia.com/leave-encashment-income-tax/ https://charteredindia.com/leave-encashment-income-tax/#respond Sat, 23 Feb 2019 19:36:15 +0000 https://charteredindia.com/?p=9647 Employees in service are allowed different types of leaves such as official holidays, medical leaves, casual leaves etc. Many employees may not utilize all the leaves and it remains unutilized at the end of the year. There are some types of unutilized leaves can be carried forward to the next year whereas some types of ... Read more

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Meaning of Assessee [Section 2(7)]: Who is Liable to Pay Income Tax? https://charteredindia.com/assessee-meaning-income-tax/ https://charteredindia.com/assessee-meaning-income-tax/#comments Sat, 09 Feb 2019 05:37:49 +0000 https://charteredindia.com/?p=9464 The term “assessee” is important in Income Tax as it defines the person who will be liable to pay income tax under different circumstances. The “Assessee” may be any person who is liable to pay taxes on the income earned by him or pay taxes on behalf of any other person. Who is Liable to ... Read more

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GST Returns : Types, Due Date, Forms and Salient Features [With Infographics] https://charteredindia.com/gst-returns-basics/ https://charteredindia.com/gst-returns-basics/#comments Thu, 10 Jan 2019 10:34:58 +0000 http://thegstindia.com/?p=90 GST Returns Filing Requirements For Regular Taxpayers [Infographics]   GST Return: Type of Return, Due Date, and Forms Return Due Date Form Outward Supplies   10th of next month   GSTR -1   Inward Supplies   15th of next month   GSTR-2   Summary return for all taxable persons except specified herein under   20th ... Read more

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How to Record GST Transactions in Accounts – Journal Entries https://charteredindia.com/gst-accounting-entries/ https://charteredindia.com/gst-accounting-entries/#comments Thu, 10 Jan 2019 07:28:56 +0000 https://thegstindia.com/?p=8441 Accounting Treatment Under GST GST will not only subsume the existing indirect taxes such as Service Tax, VAT, Excise, CST etc. but also simplify business and accounting processes. Initially, there may be certain transitional issues but in long term, it will ensure more transparency in business reporting and compliance. In the GST regime, a taxpayer ... Read more

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All About Accounts and Records to be Maintained Under GST Law https://charteredindia.com/account-records/ https://charteredindia.com/account-records/#comments Thu, 10 Jan 2019 05:31:05 +0000 http://thegstindia.com/?p=100 Under the Goods and Services Tax law, the taxpayer is required to maintain certain documents, accounts, and records in respect manufacturing, trading or provision of services. In this article, we will discuss all the aspects related to maintenance of Accounts and Record under GST. Types of Accounts and Records Required GST The registered taxpayer should ... Read more

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GST Practitioner : Eligibility, Functions, Enrollment and Filing of Returns https://charteredindia.com/gst-practitioner/ https://charteredindia.com/gst-practitioner/#comments Thu, 10 Jan 2019 04:19:45 +0000 https://thegstindia.com/?p=8251 The Goods and Services Tax law provides for the appointment of GST tax practitioners (tax return preparer) to file GST returns on behalf of taxpayers. The taxpayer can authorize any tax practitioner approved by the Government to perform GST filing activities on behalf of the taxpayer. In this article, we will discuss the functions of tax ... Read more

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What Is GST and How Does It Work – Detailed Guide With Infographics https://charteredindia.com/gst-meaning/ https://charteredindia.com/gst-meaning/#comments Thu, 10 Jan 2019 03:12:27 +0000 http://thegstindia.com/?p=10 GST Implementation in India and Its Impact GST is proposed to be implemented with effect from 1st July 2017. Implementation of Goods and Services Tax (GST) in India is one of the biggest reforms in the field of taxation. It is estimated that implementation of GST will boost the GDP by 1.5% to 2%. GST will ... Read more

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All about E-Way Bill under GST (Procedure for Transportation of Goods) https://charteredindia.com/e-way-bill-transportation-goods/ https://charteredindia.com/e-way-bill-transportation-goods/#comments Thu, 10 Jan 2019 01:46:43 +0000 https://thegstindia.com/?p=8312 Update: E-way Bill will be applicable from 1st February on transportation of all goods having value more than Rs. 50000 In the earlier VAT regime, the States have various check-posts on borders and highways to monitor the movement of goods. The officer can verify the goods and relevant documents to ensure that proper duties have ... Read more

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GST on Export of Goods and Services https://charteredindia.com/gst-export-goods-services/ https://charteredindia.com/gst-export-goods-services/#comments Wed, 09 Jan 2019 18:04:44 +0000 https://thegstindia.com/?p=8324 The export of goods and services is very important for every country, therefore the Government ensures that the exports are made duty free. The Government provides various incentives to promote exports and also provides the refund of duties paid on inputs and input services used for the manufacture of exported goods. Treatment of Exports Under GST  ... Read more

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GST on Import of Goods and Services https://charteredindia.com/gst-on-import/ https://charteredindia.com/gst-on-import/#comments Tue, 08 Jan 2019 04:03:05 +0000 http://thegstindia.com/?p=23 How Imports are treated under Current Tax Regime In the current tax regime, the import of goods and services are taxable under Custom, Excise, and Services Tax Laws. Import duties such as Custom Duty, Countervailing duty (CVD equivalent to Excise Duty) and Special Additional duty (SAD equivalent to VAT) are levied on import of goods and ... Read more

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