Under the GST Regime, assessees are required to obtain registration under the GST Act based on their aggregate turnover. All taxpayers (suppliers of goods and services) are granted a threshold exemption. If the total turnover exceeds this threshold limit, registration under GST is mandatory. Concept of Interest Income Interest income is the amount you earn […]
Central Bank of India (CBI) is the largest government-owned public sector banking company. It was the first commercial bank in India, which provides personalised business banking solutions. This bank has played an important role in establishing the regulated banking sector in India as it offers a vast network of current account banking services and products
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 2nd February, 2024 S.O. 446(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 396 of the Companies Act, 2013 (18 of 2013), the Central Government hereby establishes a Central Processing Centre at Indian Institute of Corporate Affairs, Plot No. 6,7,8, Sector 5,
Applicability of Accounting Standards to Companies other than those following Indian Accounting Standards (Ind AS)1 (I) Accounting Standards applicable in their entirety to companies AS 1 Disclosures of Accounting Policies AS 2 Valuation of Inventories (revised 2016) AS 3 Cash Flow Statements AS 4 Contingencies and Events Occurring After the Balance Sheet Date (revised 2016)
ANNOUNCEMENTS OF THE COUNCIL REGARDING STATUS OF VARIOUS DOCUMENTS ISSUED BY THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Contents I. Clarification regarding Authority Attached to Documents Issued by the Institute 607 II. Accounting Standards 1, 7, 8, 9 and 10 Made Mandatory 611 III. Applicability of Mandatory Accounting Standards to Non-corporate Enterprises 619 IV. Accounting
Provisions, Contingent Liabilities and Contingent Assets Objective The objective of this Standard is to ensure that appropriate recognition criteria and measurement bases are applied to provisions and contingent liabilities and that sufficient information is disclosed in the notes to the financial statements to enable users to understand their nature, timing and amount. The objective of this Standard is also
Impairment of Assets Objective The objective of this Standard is to prescribe the procedures that an enterprise applies to ensure that its assets are carried at no mo re than their recoverable amount. An asset is carried at more than its recoverable amount if its carrying amount exceeds the amount to be recovered through use or sale of
Reporting and analyzing financial metrics is necessary to understand your business’s financial health. Gross revenue represents the total amount of revenue earned from all your income sources and is a useful tool for calculating sales, predicting business growth and attracting lenders or investors.Gross revenue, also known as gross income, is the sum of all money generated
The residents of India’s capital may now avail the gamut of services and certificates provided by the Government through digital means, thanks to the launch of the e-District portal. eDistrict Delhi is a Delhi Government initiative that facilitates the online delivery of services to the citizens in a time-bound and hassle-free manner. The e-District Delhi
Amounts gained in exchange for time off that an employee did not use are referred to as “leave encashment.” An employee has the option to cash in accrued leave during their retirement. It is completed either as part of maintaining service or after quitting a job. Every organization has a different leave encashment policy. Some
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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