The main objective of any economy is development and trade plays an important role in achieving the objective of development. Imports are potential weapons for the development of an economy therefore, lawmakers had placed their specific sight on Imports. Considering…
In the modern era, the role of IT and automation in almost every walk of life has become indisputably massive. The commercially oriented enterprises are always at the forefront of adopting new and sophisticated technologies to introduce just that innovation…
Refund of ITC on Input Services Within GST, the term “Inverted Tax Structure” represents the situation when the GST rate paid on inward supplies (or purchases) is higher than the GST rate paid on outward supplies (or sales). According to…
Why Internal Audit of Logistic Area is Necessary? In Modern World, The Logistics area serves as the backbone of the companies and has a significant impact on the company’s business strategy which directly affects its operation and operational costs. Additionally,…
Procurement of services like an advocate, auditor, etc. by the head office on behalf of all entities is a common practice nowadays. Entities of a company in different states are considered as a distinct entity under GST, is well known…
If you are not adequately managing your inventory or not managing at all, your business will suffer as a result. There are so many benefits of inventory management, which can help both your customer and employees. Benefits of Inventory Management:…
In the recent scenario, the role of government officials is no longer restricted to passing laws rather making everyone adhere to these laws is a new challenge faced by them. Some Taxpayers are intentionally or unintentionally getting themselves engaged in…
Managing and Maintaining the Fixed Asset Register is a very crucial part of all types of organizations. It helps the organization know the total number of assets they have. Many times we have found that the small business is not…
Since the implementation of GST, it has been clear that health care services provided by an authorised medical practitioner or para medics through a clinical establishment are exempt vide Notification No. 12/2017-Central tax (Rate) dated 28-06-2017. But there have been…
A standard operating procedure (SOPs) is a set of step-by-step guidelines gathered by an organization to support its employees to carry out regular operations. SOPs Objective is to achieve consistency of productivity, value output, and performance while reducing failure to…