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…
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…
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…
Can Supplier’s shadow be used by Recipient For AAR
Ever since the enactment of GST, there are many contentious areas that still need clarification. It includes areas like taxpayers have no certainty over the tax liability which may arise in the future or applicability of various provisions of law…
Importance Of Vendor Evaluation
A vendor is a faction in the supply chain that makes goods and services accessible to organizations or consumers. The phrase “vendor” is habitually used to explain the entity that is paid for goods and services. Normally, vendor evaluation is…
The Direct Tax Vivad se Vishwas Act, 2020
India has a very complicated tax structure and even more complicated dispute resolution system. The system gives a tax-payer opportunity to go against the tax department for any grievance via appeals at various levels starting from Commissioner (Appeals) to the…
Need For Inventory Management
Inventory for an organization are assets-held for sale in ordinary course of business (finished goods), in process of production (work in progress) and raw material & other supplies. Inventory management is the process of tracking and controlling business’s inventory. It…
Requisite To Implement The Standard Operating Procedure (SOP)
What is Standard Operating Procedure (SOP)? Standard operating procedure can be defined as a detailed documented procedure which guide to every person of an organization to perform assigned activity step by step to ensure uniform and quality output. In an…