The CFO’s role has always ranged from guardian of the financial health of an organization to a professional creating value. The world is changing fast. Technological innovation is creating new choices for customers and new opportunities for a wider range of industry entrants. The combination of the ‘push’ of technology, the ‘pull’ of the customer… Continue reading CFO Insights – What’s in your Pocket?
Author: Bhaskara Consulting Group
Lower GST Rates For Real Estate – a Boon or a Bane?
The Goods and Services Tax Council, in its 34th meeting discussed the operational details for implementation of the recommendations made by the Council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable house. Here is a detailed analysis of the… Continue reading Lower GST Rates For Real Estate – a Boon or a Bane?
Accounting and Book-keeping – Cost Centre or Profit Centre
“Save on cost center and spend on profit center” is the underlying mantra of every business. In general sense, “cost center” means a department which does not produce directly but incurs costs to the business. On the other hand, a profit center is a part of a business that is responsible for revenues and costs.… Continue reading Accounting and Book-keeping – Cost Centre or Profit Centre
What is EPF & the impact of Supreme Court ruling
INTRODUCTION: The Employee Provident Fund Scheme (“the EPF Scheme”) is the main scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 and covers every establishment in which 20 or more persons are employed. However, certain organisations are covered, even if they employ less than 20 persons each. Once the establishment gets covered under… Continue reading What is EPF & the impact of Supreme Court ruling
Government’s ‘Angel’ move – Angel Tax on Startups eased
The Department for Promotion of Industry and Internal Trade (DPIIT) issued a notification on February 19, 2019 giving a major tax relief to the start-ups which have received funding from Angel investors and has, thus, become an angel for the Indian start-up ecosystem. Here is a detailed analysis on the issue of Angel Tax: A)… Continue reading Government’s ‘Angel’ move – Angel Tax on Startups eased
Prosecution Notice under TDS
Background In past couple of months, it was reported that the Government of India (GoI) is likely to miss fiscal deficit targets due to revenue shortfall from taxes. The direct tax collection for F.Y. 2018-19 was projected at 11.5 Lakhs, which is likely to be missed. Against this backdrop, the income tax officers have been… Continue reading Prosecution Notice under TDS
GST Tax Credit Adjustment – Cashflow nightmare for MSMEs
The GST (Amendment) Act, 2018 was recently brought into effect from 1st February 2019. Out of the amendments made, the introduction of Section 49A is particularly noteworthy, as the newly introduced section has changed the dynamics of set-off of Input Tax credit against the output liability. This will create cashflow crunch and lead to demand for… Continue reading GST Tax Credit Adjustment – Cashflow nightmare for MSMEs
Decoding Rebate u/s 87A post interim budget for the F.Y. 2019-20
In the interim budget of F.Y. 2019-20, it is proposed to increase maximum amount of rebate from Rs. 2,500/- to Rs.12,500/- to resident individuals having net total income upto Rs. 5 lac. Effectively, a resident individual having net total income of Rs. 5,00,000/- shall not be liable for any tax. Following example will help you understand… Continue reading Decoding Rebate u/s 87A post interim budget for the F.Y. 2019-20
Simplified! – GST under Reverse Charge (RCM) on purchases from unregistered dealers (URD)
The Central Board of Indirect Tax and Customs (CBIC) has issued a Notification No 01/2019 – Central Tax (Rate) dated 29th January, 2019 to be effective from 1st February, 2019. The said notification has created a lot of confusion amongst the taxpayers regarding the applicability or otherwise, of the much controversial RCM on URD purchases.… Continue reading Simplified! – GST under Reverse Charge (RCM) on purchases from unregistered dealers (URD)
REIT – Source of Funds for Real Estate Developers
REIT – A win-win for investors and developers Real Estate Investment Trust (REIT) is a concept modeled on the lines of Mutual Funds. It is a progressive instrument to mobilize savings of people and invest the same into development of Real Estate. REIT offers unique opportunity to retail investors to earn higher rate of returns… Continue reading REIT – Source of Funds for Real Estate Developers