Pramit Pratim Ghosh

One of the fundamental accounting assumptions associated with the preparation and presentation of financial statements is the accrual basis of accounting.

Accounting rate of return (ARR) is commonly known as a simple rate of return which focuses on the project’s net income rather than its cash flow. It is one of the oldest evaluation techniques.

Management of your creditors/suppliers or trade payables as we call is just as important as managing your debtors or trade receivables. Trade payables are one of the major sources of cash outflows.

The full form of CGST under GST law is Central Goods and Service Tax. It is called as CGST Act 2017.

SGST is one of the tax components of GST in India. SGST Act expands to State Goods and Service Tax.

The IGST full form under GST law is Integrated Goods and Service Tax. It is called as IGST Act 2017.

In order to clearly understand the concepts of debit and credit note in GST we have to let go of our understanding of debit note under erstwhile laws and begin with a new slate.

In simple words, these are different names for same tax. Only difference is that tax levying authority and place of sale is different on the basis of which are the names.

The game of GST was introduced to bring down inflation in the economy. Both these taxes are levied on the value of sale or supply of goods. But still, there are lots of differences between VAT and GST

There are possibilities that tax payers tend to have complaints with the new habitat of changed GST taxation environment. And the Council has planned for the same.

Both registered businesses and unregistered transporters must complete e-way bill registration on the e-way bill portal to be able to generate e-way bills.

To generate e-way bill, one must create an account on e-way bill portal using the GSTIN. Post successful creation of e-way bill portal account, the first step in generating an e-way bill is to log in.