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What Should Be Included in Value as per Section 15 of CGST Act?
Correct valuation is at the core of GST compliance. Under Section 15 of CGST Act, tax is charged on the “value of supply.” If the value is wrong, the tax…
How to Avoid Interest Penalties Under Section 50 of CGST Act?
The interest in GST is automatic. Once tax is paid late or short paid, liability arises under section 50 of CGST act. It does not require a notice. For the…
Why Should Businesses Calculate Average Inventory Regularly?
Inventory has a direct impact on profit, cash flow, and tax reporting directly from it. When you Calculate Average Inventory consistently, you are able to get a realistic picture of…
Why Sales Order Processing is Important for Accurate Billing and Delivery?
Every sale starts with a promise to provide the right product to the right price and time. That promise is fulfilled through Sales Order Processing. It links together the sales,…
How Often Should the Accounts Payable Turnover Ratio Be Analysed?
The Accounts Payable Turnover Ratio is one of the most useful financial indicators for Indian businesses. It reveals the speed of payment of a company to its suppliers in a…
What Happens If TDS Is Not Deducted Under Section 194DA of Income Tax Act?
Life insurance earnings are often regarded as tax free by the policyholder. However this is not always true. The section 194da of Income tax act deals with Tax Deducted at…
GST Withdrawal Rule 14A: What Changed and Why It Matters in 2026?
The GST withdrawal rule 14A is one of the serious compliance checkpoints in 2026. Recent amendments have been brought in for handling the withdrawal of applications by authorities in GST…
How Does General Reserve Accounting Work in Corporate Finance?
Corporate profits do not always go straight to dividends or spending on expansion. This is where general reserve accounting plays an important part. A part is often kept within the…
How Sec 194R of Income Tax Act Affects Marketing and Sales Promotions?
The introduction of Sec 194R of Income Tax Act has brought a change in the way that businesses deal with marketing incentives and promotional schemes in India. This provision is…
What are Common Mistakes in Recording Assets in Accounting?
Accurate recording of assets in accounting is very important for any business in India. Assets represent resources owned by a business which are used to create an economic benefit in…