AS 1 / IND AS 1: DISCLOSURE OF ACCOUNTING POLICIES AS 1 deal with the disclosure of significant accounting policies followed in the preparation and presentation of financial statements. It states that an enterprise needs to disclose significant accounting policies followed by it to prepare and present its financial statements. …
Are you Still confused about Applicability of GST Rate on Solar Power Generation System ? – Let’s Read this Blog CASE STUDY – SOLAR POWER GENERATING SYSTEM A solar power generation system, generally, has been understood to include a solar panel/module (array), controller, batteries, inverters and lighting load. The electric …
Let’s understand the concept with one case study CASE 14: M/S TP AJMER DISTRIBUTION LTD (AAAR – RAJASTHAN) Applicant : TPADL (Company) Engaged in the business of distribution of Electricity in Ajmer City. Question : Company Receives Non – Tariff Charges whether taxable or Not ? Facts : Company is …
In India, the MSME Act has introduced a 45-days payment rule for Micro & Small Enterprises. So, if you are a Micro or Small enterprise, and you have sold goods or provided services to a Buyer, the Buyer must make payments for the goods or services within a maximum period …
In this article, we shall explore the understanding on improving the business processes. Since it is a multi-dimensional subject and we need to touch upon multiple aspects, the article may go little lengthy or else I will break into few chapters. Here we will broadly explore all such aspects and …
As we all know that currently Department is working on many Business/Departmental Audits for Various Previous Financial Years. And we all know this fact that Financial Statements are plying a very important role in GST Audit. Rather one can say that GST Audit Must be started with the Analysis of …
THE FUTURE OF FINANCES IS HERE! CHATGPT TAKES ACCOUNTING BY STORM! We have arrived in 2023 with a bang – a big, artificially intelligent bang! The ChatGPT bandwagon is growing fast, so if you haven’t jumped on it yet, now is the time. This hot new AI sensation is taking …