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  • 07-Apr-2020

GST Rates For Mobile Phones, Matchsticks, MRO Services Notified

The Central Board of Indirect Taxes and Customs (CBIC) notified new goods and services tax (GST) rates for mobile phones, matchsticks and maintenance and repair operation services for aircraft. Mobile phones will be charged 18% GST from April 1, compared to 12% earlier, while all kinds of mat...

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What Is Bank Reconciliation

What is Bank Reconciliation A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to ascertain the differences between the two, and to book changes to...

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How To Link PAN With Aadhaar

The Supreme Court (SC) has allowed linking of PAN with Aadhaar while reading out its verdict on the constitutional validity of Aadhaar. The apex court also said that quoting Aadhaar number is a mandatory to file income tax return (ITR) and for applying for a new PAN. As per the Central Board of D...

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How To Know Which Income Tax Slab You Fall In?

While doing your tax planning for FY2019-20, it is important to know which tax slab your income falls in. The slab rate in which your income will fall is the rate at which your last rupee of income will be taxed. As your income level increases, income at different levels or in different bands wil...

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Invoicing Under GST

As a GST registered dealer, you are required to provide GST Invoices, also known as bills to your clients. 1. What is a GST Invoice? An invoice or a bill is a list of goods sent or services provided, along with the amount due for payment. 2. Who should issue GST Invoice? If you are a GST...

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