Difference Between Debit Note And Credit Note: Under GST
Posted Date : 16-Oct-2023 , 07:02:50 pm | Posted By
Law Legends
Topic covers:
1.What is Debit Note and Credit Note?
2.Debit Note and Credit Note in GST
Definition
Reason to issue Debit note and Credit Note
Time limit to issue
3.Reflection in GST return
4.Format of Debit note and credit note
5.Difference between debit note and credit note
6.FAQs
Aft...
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Category : GST |
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What are the ethical issues in accounting & finance faced by accountants?
Posted Date : 14-Oct-2023 , 01:29:46 pm | Posted By
Ishita Ramani
Introduction
Ethics are the moral principles that guide our actions and decisions, and they play a pivotal role in the field of accounting. Accounting professionals hold a position of trust in society, as they are responsible for managing financial information that impacts stakeholders&rsqu...
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Category : Corporate Law |
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0 | Hits : 663 |
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MVAT Audit Report in Form e-704
Posted Date : 12-Oct-2023 , 02:51:28 pm | Posted By
Ishita Ramani
Introduction
Regular audits are essential to ensure compliance and transparency in taxation. The new VAT Audit Form — 704 has brought out many major changes that are important for companies operating under the Sales Tax Act. The Maharashtra Value Added Tax Rules introduced this comple...
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Category : VAT |
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0 | Hits : 754 |
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All You Need To Know About Form 10BD
Posted Date : 10-Oct-2023 , 01:06:28 pm | Posted By
Ishita Ramani
Introduction
In the realm of income tax laws, both donors and recipients play crucial roles in ensuring compliance and transparency. To facilitate this process, the Income Tax Act introduces Form 10BD, a document that holds significance for both parties involved. Every charitable organizati...
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Category : Corporate Law |
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0 | Hits : 565 |
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What are the remuneration given to LLP Partners?
Posted Date : 07-Oct-2023 , 12:20:41 pm | Posted By
Ishita Ramani
Introduction
Rewards and return to a partner are the most important factors for every LLP partner. The return is sought irrespective of whether the partner is investing in the LLP or offering his skills to it. When you register your Limited Liability Partnership, this factor should not be o...
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Category : Corporate Law |
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0 | Hits : 521 |
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What are the exceptions for copyright protection?
Posted Date : 05-Oct-2023 , 05:03:02 pm | Posted By
Ishita Ramani
Introduction
Copyright protection is to make sure that the rights of artists, composers, authors, etc. are protected by rewarding them with exclusive rights over the work as per the Copyright Law. The copyright law has imposed some limitations and exceptions in order to maintain the balance...
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Category : Corporate Law |
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0 | Hits : 518 |
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Process to Increase Authorized Share Capital
Posted Date : 29-Sep-2023 , 03:08:18 pm | Posted By
Ishita Ramani
Introduction
Every company eventually needs more money to run it. This fund might be required both immediately and later. A short-term requirement can be satisfied by loans and advances. However, in the long run, it will demand more money. This can be done for a Private Limited Company by i...
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Category : Corporate Law |
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0 | Hits : 623 |
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Type of Directors in a Company in India
Posted Date : 27-Sep-2023 , 12:19:38 pm | Posted By
Ishita Ramani
Introduction
This blog provides information on the various types of Directors in a private limited company, and the different types of Directors in the Companies Act, 2013. Directors are in charge of overseeing, controlling, and directing a company’s operations. He or she has many dut...
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Category : Corporate Law |
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0 | Hits : 651 |
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Post registration compliances for a Private Limited Company
Posted Date : 23-Sep-2023 , 03:17:44 pm | Posted By
Ishita Ramani
Introduction
A business must satisfy various compliance-related requirements upon the establishment to continue operating as per the Companies Act, 2013. The Directors and the Company suffer fines and penalties for non-compliance. Therefore, those who incorporate a business must be aware of...
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Category : Corporate Law |
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0 | Hits : 681 |
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How should small companies manage GST compliance?
Posted Date : 14-Sep-2023 , 12:40:45 pm | Posted By
Ishita Ramani
Introduction
The foundation of the Indian economy, small and medium-sized enterprises play an essential part in export, GDP, job creation, and inclusive growth. They might think that the GST has substantially raised the cost of compliance. The nation’s most important tax reform since ...
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Category : GST |
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0 | Hits : 933 |
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Roles of Directors & Shareholders in GST Cancelation
Posted Date : 11-Sep-2023 , 04:51:37 pm | Posted By
Ishita Ramani
Introduction
India’s Goods and Services Tax (GST) is an indirect tax system that went into effect on July 1, 2017, with the goal of simplifying the complicated taxation system in the nation. It has taken the place of different indirect taxes like excise duty, VAT, and service tax. It ...
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Category : Corporate Law |
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0 | Hits : 965 |
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What is the process of filing a Letter of Undertaking (LUT) under Goods & Service Tax (GST)?
Posted Date : 08-Sep-2023 , 05:28:55 pm | Posted By
Ishita Ramani
Introduction
All registered taxpayers who wish to export goods or services without paying IGST (Integrated Goods and Service Tax) must submit a Letter of Undertaking (LUT) in GST RFD-11 form through the GST website. This article is going to focus on “What is a Letter of Undertaking un...
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Category : GST |
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0 | Hits : 888 |
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Share Transfer Process in Private Limited Company
Posted Date : 05-Sep-2023 , 04:48:17 pm | Posted By
Ishita Ramani
Introduction
In a Private Limited Company, the shareholders are involved in deciding who owns the business. You must transfer the shares if you want to bring in new investors or change ownership during the course of your business. Today, we will look at the process of transferring shares in...
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Category : Income Tax |
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0 | Hits : 949 |
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Change in the Registered Address of the Company
Posted Date : 02-Sep-2023 , 02:26:34 pm | Posted By
Ishita Ramani
Change in the Registered Address of the Company
Introduction
A business will choose to engage in all business-related activities in the jurisdiction in which it has been registered. The registered office of a company can be its corporate headquarters, a manufacturing facility, a br...
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Category : Corporate Law |
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0 | Hits : 729 |
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Indian Government lost Rs 1 lakh crore in taxes in FY'21 due to corporate tax cut
Posted Date : 01-Sep-2023 , 07:21:43 pm | Posted By
CA. Dr. Gaurav Bhambri
The government lost a little over Rs 1 lakh crore in 2020-21 on account of a cut in corporate taxes, Minister of State for Finance Pankaj Chaudhary said on Tuesday. In September 2019, the government announced a cut in base corporate tax for then existing companies to 22 per cent from 30 per cent; an...
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Category : Corporate Law |
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Concept of Combined Supply and Impact of change in Rate of Tax
Posted Date : 01-Sep-2023 , 10:03:03 am | Posted By
Sunil Jain
Concept of Combined Supply & Impact of Change in Rate of Tax
By- CA Sunil P. Jain & CA Ayush S. Jain, Indore
Many a times more than one supply is made together. It may be a case of Goods & Goods (mobile with charger) or Goods & Services (e.g. AC sold with transportation & f...
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Category : GST |
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0 | Hits : 516 |
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What is Corporate Identification Number (CIN)?
Posted Date : 31-Aug-2023 , 02:54:56 pm | Posted By
Ishita Ramani
Introduction
This blog includes information on the corporate identification number (CIN), covering information on the CIN for companies, what it is, how to check it, and other related information. The Registrar of Companies (ROC) assigns each company incorporated in India with a unique iden...
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Category : Corporate Law |
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0 | Hits : 461 |
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Exploring Form 60 and Form 61: Benefits, Issues, and Considerations in Indian Financial Transactions
Posted Date : 29-Aug-2023 , 09:34:14 pm | Posted By
NIKITA AGARWAL
Exploring Form 60 and Form 61: Benefits, Issues, and Considerations in Indian Financial Transactions
Form 60 and Form 61 are used in India for certain financial transactions. Form 60 is used when an individual does not have a Permanent Account Number (PAN) and is carrying out specified transaction...
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Category : Income Tax |
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0 | Hits : 539 |
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First Auditor: Process to Appoint the Auditor
Posted Date : 28-Aug-2023 , 05:30:49 pm | Posted By
Ishita Ramani
Introduction
Every entity in charge of the business is required to perform an audit everyday, every week, every month, every six months, and every year. The Company must carry out an audit to evaluate its financial stability and to confirm that it is in compliance with all applicable laws, ...
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Category : Corporate Law |
Comments :
0 | Hits : 368 |
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GST Rates on Sporting Goods and Toys
Posted Date : 25-Aug-2023 , 04:44:17 pm | Posted By
Ishita Ramani
Introduction
India has a fixed GST (Goods and Service Tax) rate that is broken down into five tax rate slabs: 0%, 5%, 12%, 18%, and 28%. The GST rate for toys and sporting goods is 12%, 18%, or 28%. Let’s explore the GST on toys and sporting goods in more detail. Let’s quickly r...
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Category : Corporate Law |
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0 | Hits : 484 |
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