The money you earn is partly spent and the rest saved for meeting future expenses. Instead of keeping the savings idle you may like to use savings in order to get return on it in the future. This is called Investment. One needs to invest to  earn return on your idle resources  generate a specified sum of money for a specific goal in life  make a provision for an uncertain future. When to Start Investing The sooner one starts investing the better. By investing early you allow your investments more time to grow, increases your income, by accumulating the principal and the interest or dividend earned on it, year after year. year after year. The three golden rules for all investors are:  1.Invest early  2.Invest regularly  3.Invest for long term and not short term Where to Invest One may invest in:  Physical assetslike real estate, gold/jewellery, commodities etc   Financial assetssuch as fixed deposits with banks, small saving instruments with post offi

Penalty for Late Filing of GST Return GST return filing  is mandatory for all persons having GST registration irrespective of turnover or profit. Hence, even persons having no business activity or turnover is a month but having GST registration are required to file GST returns. Regular taxpayers are required to file monthly GST returns, dealers registered under Composition Scheme are required to file quarterly GST returns and non-resident taxable persons are required to file one return every month. In this article, we look at the penalty for late filing of GST return.

Mutual Funds are one of the most suitable investment instruments for investors. Here we bust some misconceptions that have led the investors to remain skeptical about them. To give a fair and real understanding about the instrument, here are some facts about Mutual Funds: 1. Myth: “You need to be an expert to invest in funds” Fact : Mutual Funds are managed by Fund Managers. You can either have an active fund where they actively buy and sell stocks or a passive fund that follows an index. The fund mangers do all the research and analysis about which securities to buy or sell. Further, online and offline advisors can easily help you choose the right Mutual Funds that work within your risk constraints to meet your goals. Yes, you have to be a diligent on who you choose as an advisor but it is easy to find a good one.  Ask two simple questions  – do you pay the advisor directly? and has the advisor successfully managed money before? If the answer is “Yes” to both the questions,

Dishonour of cheque for insufficiency , etc., of funds in the account. —Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made with that bank, such person shall be deemed to have committed an offence and shall, without prejudice to any other provisions of this Act, be punished with imprisonment for   [a term which may be extended to two years], or with fine which may extend to twice the amount of the cheque, or with both: Provided that nothing contained in this section shall apply unless— the cheque has been presented to the bank within a period of six months from the date on w

http://www.mca.gov.in/Ministry/pdf/RegisteredValues_19102017.pdf

The basic features of the returns mechanism in GST include electronic filing of returns, uploading of invoice level information and auto-population of information relating to Input Tax Credit (ITC) from returns of supplier to that of recipient, invoice-level information matching and autoreversal of Input Tax Credit in case of mismatch. The returns mechanism is designed to assist the taxpayer to file returns and avail ITC.  Under GST, a regular taxpayer needs to furnish monthly returns and one annual return. There are separate returns for a taxpayer registered under the composition scheme, nonresident taxpayer, taxpayer registered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/ TCS) and a person granted Unique Identification Number. It is important to note that a taxpayer is NOT required to file all types of returns. In fact, taxpayers are required to file returns depending on the activities they undertake.  All the returns are to be filed onl

Under GST, the ‘Supply’ is a fundamental concept and all the provisions of GST revolves around it. Under Supply, there are three key elements namely time of supply, place of supply and value of supply. These three elements together determine the chargeability of taxes on supply. In this article we will be covering the concept of ‘Place Of Supply’ ‘Place of Supply’ under GST is an important factor as it defines whether the transaction will be counted as intra-state(i.e within the same state) or inter-state(i.e. between two states) and accordingly the changeability of tax, i.e levy of SGST, CGST & IGST will be determined. While determining the levy of taxes based on Place of Supply, two things are considered namely: Location of Supplier:  It is the registered place of business of the supplier Place Of Supply:   It is the registered place of business of the recipient Let’s understand this with the help of two examples! Determining Place of Supply for Intra-State Supply

A waybill is a document issued by a  carrier  giving details and instructions relating to the  shipment  of a  consignment  of  goods . Typically it will show the names of the  consignor  and  consignee , the point of origin of the consignment, its destination, and  route . Accordingly, it’s an official shipping document that travels with a shipment, identifies its consignor, consignee, origin and destination, describes the goods, and shows their weight and freight. The Central Government vide Notification No. 27 /2017 – Central Tax dated 30.08.2017 has amended the CGST Rules, 2017, to incorporate the provisions of e-way bill. Detailed analysis of the provisions of e-way bill in question answer form are as follows: 1.  When the provisions of e way bill applicable in India? Ans.   E way bill provisions shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. Accordingly, these provisions shall be applicable from a future