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GST Applicability on Import

GST Applicability on Import

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…

adminFebruary 25, 2021February 25, 2021 GST E-Invoice, GST Services No Comments
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Why System Controls Are Important

Why System Controls Are Important

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…

adminFebruary 25, 2021February 25, 2021 Audit Services No Comments
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The Tale of Two Contrasting Decisions

The Tale of Two Contrasting Decisions

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…

adminFebruary 24, 2021February 24, 2021 GST E-Invoice, GST Services No Comments
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INTERNAL AUDIT OF LOGISTIC AREA

INTERNAL AUDIT OF LOGISTIC AREA

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,…

adminFebruary 24, 2021February 24, 2021 Audit Services No Comments
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Insight on Input Service Distributor Mechanism

Insight on Input Service Distributor Mechanism

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…

adminFebruary 23, 2021February 24, 2021 GST E-Invoice, GST Services No Comments
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Importance of Inventory Management

Importance of Inventory Management

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:…

adminFebruary 23, 2021February 24, 2021 Audit Services No Comments
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GROUNDWORK OF DEMAND MECHANISM IN GST

GROUNDWORK OF DEMAND MECHANISM IN GST

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…

adminFebruary 22, 2021February 22, 2021 GST E-Invoice, GST Services No Comments
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Importance of Fixed Asset Register and Timely Physical Verification

Importance of Fixed Asset Register and Timely Physical Verification

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…

adminFebruary 22, 2021February 22, 2021 Audit Services No Comments
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ELIGIBILITY OF ITC ON MEDICINES

ELIGIBILITY OF ITC ON MEDICINES

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…

adminFebruary 20, 2021February 20, 2021 GST E-Invoice, GST Services No Comments
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Relevance of Standard Operating Procedures in an organization

Relevance of Standard Operating Procedures in an organization

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…

adminFebruary 20, 2021February 20, 2021 Audit Services No Comments
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Recent Posts

  • GST Applicability on Import
  • Why System Controls Are Important
  • The Tale of Two Contrasting Decisions
  • INTERNAL AUDIT OF LOGISTIC AREA
  • Insight on Input Service Distributor Mechanism

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