CAclubindia Articles
Towards GST - 122 nd Constitutional Amendment Bill - An analysis
By CA Pritam MahureThe 122nd Constitutional Amendment Bill (hereafter referred as CAB) was introduced in Parliament on 19th Dec,2014. In the past, to amend the Constitution, 115th CAB was introduced by the UPA Government in March 2011. However, this
History of Maritime Shipping
1. Shipping history at a glanceFrom time immemorial, people wanted to involve with trading activities at sea. As such when people had started to contemplate carriage of goods and merchandise from one country to another, from one region to another, an
Goods & Service Tax via Dual GST & GST Council Era - Part I
Goods & Service Tax (GST) is a regime of Uniform Tax. A regime in which multiple indirect taxes will be the talk of past and indirect taxes will be subsumed in GST. A. Taxes to be Subsumed in GST The following taxes will be subsumed under GST :
Proposed GST- The Game Changer for professionals- Opportunity
GST is a consumption based levy. Destination principle would be applicable in normal course of business to business [B2B] other than for few services and business to consumer.[ B2C] GST is proposed to be in place by April 2016- maybe a bit optimitsti
Sec. 36(1)(iii) and principle of commercial expediency
Section 36(1)(iii)- Principle of Commercial expediency As per Sec 36(1)(iii), Deduction shall be allowed for The amount of interest paid in respect of capital borrowed for the purposes of business or professionFor the purpose of claim
Contribution - the concept I love most
By Contribution, I am referring to Sales minus Variable Cost. In my four decades of working in Industry, I had applied this concept in many organizations, with great gains. For me today, it is perhaps the most important concept in Management Accounti
Third report of TARC
THIRD REPORT OF TAXADMINISTRATION REFORMCOMMISSION (TARC) The Government had constituted Tax Administration Reform Commission (the TARC) headed by Dr. Parthasarathi Shome, on August, 2013, to suggest core reforms to the tax administrati
Plastic money strengths
PLASTIC MONEY STRENGTHS 1. Introduction: We are all well aware of the couplet defining the strengths of traditional money: Money has functions four, Medium, measure, Standard & Store. Society moved from barter system to common medium of exchan
Judiciary appointed, Government disappointed "CA/CMA"
Controversial and debated issue of whether board (CBEC) has power to conduct service tax audit of assessee has gone into various folds recently, but now it has got finality.Department has initiated and conducted Service Tax Audit of many assessees. H
Facilitating GST Law - An Analysis
The GST Constitution Amendment Bill, (No. 192 of 2014) Facilitating GST Law (An Analysis) One of the major Indirect tax reforms that the country is now on road to witness is the incarnation of a single GST law instead of multipl
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