Conditions for eligibility of GST Tax credit under Section 16 GST Input tax credit has been further classified into Eligible and Blocked Credits. Blocked Credits are dealt with under Section 17(5) while Section 16 deals with GST Input tax credit eligibility and conditions. Before we proceed onto Blocked and Eligible credit, let us first understand…
Interest on delayed GST Payment The legal position Recently, the GST Council has held its 39th meeting in which it has approved that the interest on GST late payment shall be payable on liability paid belatedly in cash component only, and this shall be made applicable w.e.f. Jul’2017 i.e. retrospective effect. However, it shall be…
CA Articleship in a medium-sized CA firm The blog is all about what I learned in CA Articleship in a medium-sized firm. When I embarked on my journey of Articleship in a medium-sized firm. I used to ponder often what I am learning is up to the industry practices as there was no standard to…
GST Interest calculation, interest on reversal & refunds How to calculate interest on the late payment of GST? Interest applies to the late payment of GST. Section 50 of the Central Goods and Service Act 2017 states the following provisions. (1) Every person who is liable to pay tax in accordance with the provisions of…
ICAI next CA Articleship exam – Registration, Results, and updates Refer latest exam dates from Pttest.icai website. The students who have appeared in the earlier test(s) and wish to improve their performance/ grade can re-appear in this test. Similarly, the students who have registered for the earlier test(s) but could not appear due to some…
Ultimate guide on becoming Chartered Accountant in India In this article, we have covered the entire journey of how to complete a CA course – the challenges faced, tips and tricks required to crack exams, fee structure, Articleship struggles, and ultimately attempting CA final exams. Chartered Accountancy is one of the most challenging courses in…
CA Articleship Exam (Practical Training exam) at pttest.icai Latest update on CA Articleship exam Refer latest exam dates from Pttest.icai website. The students who have appeared in the earlier test(s) and wish to improve their performance/ grade can re-appear in this test. Similarly, the students who have registered for the earlier test(s) but could not…
