Material Costs

Material Costs (a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference. (b) The material receipt shall be valued at purchase price including duties and taxes, freight inwards, insurance, Read more about Material Costs[…]

GST – Tax Payment Procedure

*How Tax will be Paid Under GST* *Step-1*: Calculate tax payable in cash *Step-2*: Generate CPIN number in FORM GST PMT-4 on common portal by entering the detail of amount of Tax (CGST, IGST & SGST), Interest, fees, and Penalty etc payable. Generated challan shall have 14 digit CPIN number (Common portal identification Number) This Read more about GST – Tax Payment Procedure[…]

Overview of Companies (Cost Records and Audit) Amendment Rules, 2016.

Annexure to the Cost Audit Report PART – A 1. General Information 2. General Details of Cost Auditor 3. Cost Accounting Policy. 4. PRODUCT/SERVICE DETAILS (for the company as a whole) PART-B (For Manufacturing Sector) 1. QUANTITATIVE INFORMATION (for each product with CETA heading separately) 2. ABRIDGED COST STATEMENT (for each product with CETA heading Read more about Overview of Companies (Cost Records and Audit) Amendment Rules, 2016.[…]

Income Declaration Scheme, 2016

The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter IX of the Finance Act, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare the undisclosed income and pay tax, surcharge and penalty totaling in all 45% of such undisclosed Read more about Income Declaration Scheme, 2016[…]