Articles by CA Sanat Pyne

Understanding IND AS 1: Presentation of Financial Statements

CA Sanat Pyne 06 April 2023 at 08:52

The Indian Accounting Standards (IND AS) were introduced in India in 2015, to bring greater transparency and consistency to financial reporting. One of the key standards is IND AS 1 - Presentation of Financial Statements.

FAQs on IND AS 1

CA Sanat Pyne 05 April 2023 at 15:10

IND AS 1 is the Indian Accounting Standard that sets out the rules for the presentation of financial statements.

Implementation of Audit Trail software

CA Sanat Pyne 03 April 2023 at 08:45

An Audit Trail is a chronological record of all the events or transactions that have occurred within a particular system or process. It is used to track changes to data and document who made those changes, when they were made, and why.

Section 194IA: Understanding TDS on Immovable Property

CA Sanat Pyne 01 April 2023 at 09:00

Section 194IA of the Income Tax Act governs the TDS deduction on the transfer of immovable property. In this article, the author will discuss the provisions and implications of this section in detail.

Blocked Credit under GST

CA Sanat Pyne 31 March 2023 at 08:58

Blocked credit refers to the input tax credit that cannot be claimed by a taxpayer under the GST regime. Input tax credit is the tax paid on inputs, i.e., goods and services that are used in the course of business, which can be set off against the output tax liability of the taxpayer.

Job work process under GST

CA Sanat Pyne 23 March 2023 at 14:36

Job work is a process where a principal manufacturer or supplier (referred to as "principal" from herein) sends raw materials or semi-finished goods to a third-party manufacturer or service provider (referred to as "job worker") to process, assemble, or complete a particular job or work.

All about GTA under GST

CA Sanat Pyne 21 March 2023 at 08:49

In this article, we will discuss the definition of GTA, its scope under GST and the compliance requirements for businesses that fall under the category of GTA.

Export under GST

CA Sanat Pyne 18 March 2023 at 06:56

Under GST, the term "Export" refers to the supply of goods or services that are sent outside the territory of India. This means that any supply of goods or services that leaves India's boundaries can be considered an export.

Advance Tax Payment

CA Sanat Pyne 03 March 2023 at 08:57

Advance tax is a tax that needs to be paid in advance on estimated income, in contrast to the regular tax paid at the end of the financial year. In this article, we will cover the basics of advance tax, including the procedure for calculating and paying it.