Posts

Top Reasons to Hire a Chartered Accountant for Your Business

Image
As a business owner, managing your finances and ensuring compliance with tax laws can be a daunting task. Hiring a chartered accountant for your business can alleviate this burden and provide numerous benefits. In this blog, we will discuss the top reasons why you should hire a chartered accountant for your business. 1. Financial Expertise and Guidance Chartered accountants are experts in financial matters. They possess a wealth of knowledge and experience in accounting, taxation, auditing, and financial reporting. By hiring a chartered accountant , you can benefit from their expertise and guidance in managing your finances effectively. 2. Time Savings Managing your finances and ensuring compliance with tax laws can be time-consuming. Hiring a chartered accountant can free up your time to focus on other aspects of your business. This can lead to increased productivity and business growth. 3. Compliance with Tax Laws Chartered accountants are well-versed in tax laws and regulations
Post a Comment
Read more

RCM Under Real Estate Sector

Image
RCM Under Real Estate Sector A reverse charge is a tax mechanism by which the supplier of goods or services (i.e., the vendor) will be held accountable for collecting the applicable taxes from their customers, instead of vice versa. In the Indian context, reverse charge refers to a situation when one entity has to pay tax on behalf of another. The Reverse Charge Mechanism RCM on real estate was introduced by the Finance Act 2017 and came into effect on 1st June 2018 with an objective to reduce tax avoidance in Real Estate Industry and improve compliance. The objective of RCM is to bring routine transactions within the scope of GST and make all related entities jointly accountable. With this new law, now buyers will have to take responsibility for paying taxes on new constructions, rather than suppliers such as vendors or contractors. What is Reverse Charge Mechanism RCM Real Estate ? The real estate sector is one of the major sectors for generating black money and for avoiding taxes i
Post a Comment
Read more

What is GST Registration services?

Image
What is GST registration? The best way to think of GST registration is that it is an indirect tax that is applied to the sale and supply of goods and services in India. The tax is levied on the value of the goods and services at each stage of the production and distribution process. The GST is a single tax that is levied on the supply of goods and services and is payable by the businesses that supply them. The GST is a destination-based tax, which means that the tax is levied on the value of the goods and services at the place of consumption. The tax is collected by the government of the state in which the goods and services are consumed. Why GST is Important in India? GST registration is an important tax reform in India that will have a positive impact on the economy of India. It is a consumption-based tax that will be levied on the sale of goods and services. The main aim of GST is to remove the cascading effect of tax on the production of goods and services. It is expected that
Post a Comment
Location: Mumbai, Maharashtra, India
Read more

Why LLP Formation & Registration Required?

Image
What do we understand by LLP Registration in Mumbai? It is to be noted that Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. Very first idea behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. In today’s economy, LLP is considered as one of the easiest types of business to incorporate and manage in India. Also with an easy incorporation process and simple compliance formalities, LLPs are preferred by Professionals, Micro and Small businesses that are family-owned or closely-held. What is the difference between a Private Limited Company and a LLP? The difference can be drawn considering the following important aspects: - Cost: The cost for the incorporation of a private limited company or an LLP is the same. - Features: Both LLP and Private Limited Company offers more of the less the same features
Post a Comment
Location: Mumbra, Thane, Maharashtra, India
Read more

GST Consultant in Mumbai

Image
GST Consultants and Planning in Mumbai Goods and Services Tax  is the greatest indirect taxation reform in India that will affect the manner business is performed at the pan-India level. It is definitely going to displace nearly all those present in-direct taxation or levies such as Excise Duty, services Tax, VAT, Entry Tax, etc. Its influence will change across various varieties of companies. We, as GST CONSULTANTS Put Together, examine to get a smooth transition out of Your Pre GST era to Post GST. Our GST consultancy creates an appraisal GST compliant. Our pros Supply GST advisory products and services along with GST consulting solutions for your company beginning from bookkeeping,  GST Registration , prep of GST return, admissions in GST abide by around for GST tax-refund, Pan card, E-waybills, electronic Signature. Bashmakh & Co  Composed of taxation specialists with years of expertise using VAT, Services Tax, Entry Tax, along with other Tax legislation in India. Learn More: 
9 comments
Read more

What is Statutory Audit?

Image
  A statutory audit is an audit that is recommended by diverse rules like the Reserve Bank of India, Income Tax, Companies Act, and so on. A Chartered Accountant needs to direct numerous audits according to the diverse statute requirement. Statutory Audit of banks is obligatory. The Procedure of Statutory Audit The Statutory Auditors ought to guarantee that the audit report given by them complies with the necessities of Revised SA 700 – Producing an Opinion and making a report on financial statements, SA 705 – Modifications to the assessment in the Independent Auditor's Report, and SA 706 – Emphasis of issue passages and other issue sections in the Independent Auditor's Report. These days, every single statutory examiner is given a time allotment wherein they need to embrace the audit of the branches that are distributed to them. An auditor ought to quickly acknowledge the appointment and send a conventional communication to the branch, and all other data that he would requir
Post a Comment
Location: Thane, Maharashtra, India
Read more