Atmiya consultancy

03/02/2023

26/09/2021

We are Providing All types
Accouting Solution in Surat (Gujarat) area, Pls contact for Part time Accouting Work for your Business
Contact :8000792791

08/07/2017

Some points for better understanding of GST.

All payments above Rs. 5000 per day, are under RCM in GST:

If we are dealing with unregistered suppliers and making payments above Rs. 5000, we have to pay GST under RCM under section 9(4) of CGST ACT.

List of some items on which RCM will not apply:
Salary and wages ( no casual labour)
Electricity and water
Interest
Car fuel ( out from GST)
Government charges.

List of some items on which RCM will apply :
Accounting Charges
Rent and lease charges
Commission and Brokerage
Printing and stationery
Repairs and Maintenance
Office expenses
Computer repairs charges
Legal Fees
Consultancy charges
Professional charges
Audit Fees
Labour charges
Fright and transportation
Gifts
Business promotion expenses
Advertisement
And all other expenses which are not covered with specific exemption.

01/02/2017

BUDGET 2017 AT GLANCE

Base Year for Capital Gain shifted to 2001 from 1981

MAT credit can be carried forward to 15 yrs

Companies whose annual turnover is below 50 crore : Income tax @ 25%

Tax @ 6% u/s 44AD for Non Cash Transaction

Allowability of Cash expenditure per day is reduced to 10K from 20K

Maximum cash donation receivable by political party from one source at Rs 2,000

44AA: limit of turover increased from 10Lakh to 25Lakhs, Limit of profit from 1.2 Lakhs profit to 2.5 lakhs

Individual Tax:
2.5 lakshs to 5 Lakhs Tax @ 5%

Rebate of 2500 only till 3.5 Lakhs Income

To levy surcharge of 10% on income between Rs 50 lakh-1 crore