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GOODS AND SERVICE TAX IN INDIA (GST) Goods and Service Tax is a comprehensive tax levy on manufacture, sale and consumption of goods and service at a national level under which no distinction is made between goods and services for levying of tax. It will mostly substitute all indirect taxes levied on goods and services by the Central and State…
DISADVANTAGES OF GST There are various benefits of GST in India. However, a tax reform of such magnitude comes with its teething problems. The following are the disadvantages of GST : IT INFRASTRUCTURE Since GST is an IT-driven law, it cannot be sure whether all the states in India are currently equipped with infrastructure and…
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ADVANTAGES OF GST IN INDIA The Goods and Services Tax was introduced with the primary objective of boosting India’s economy. Besides simplifying the indirect taxation system, GST has helped in clearing away the hidden costs on commodities/services, thus benefitting the end users. Some major advantages of GST in India are as follows: EASIER CLASSIFICATION The…
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FEATURES OF GST In this article you will study about the Features of GST. Make good notes of it. Goods and Service Tax (GST) is a comprehensive tax levy on manufacture, sale and consumption of goods and service at a national level under which no distinction is made between goods and services for levying of tax. It will…
HISTORY OF GST IN INDIA (GOODS AND SERVICE TAX) In this Article you will study about History of GST in India. Study and make proper notes. Goods and Service Tax (GST) is a comprehensive tax levy on manufacture, sale and consumption of goods and service at a national level under which no distinction is made between goods and…
ZERO BASE BUDGETING PROCESS Zero base budgeting process is process wherein each cost element for the period is clearly justified, in terms of cost benefits. The management analyses and prioritizes the activities, depending on the determinants like alignment with the organizational objectives, fund availability, etc. Hence, all the activities are reassessed every time the budget is prepared….
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ZERO BASE BUDGETING Zero base budgeting is that form of budgeting wherein each cost element for the period is clearly justified, in terms of cost benefits. The management analyses and prioritizes the activities, depending on the determinants like alignment with the organizational objectives, fund availability, etc. Hence, all the activities are reassessed every time the budget is…
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BUDGETARY CONTROL Budgetary control is the process by which budgets are prepared for the future period and are compared with the actual performance for finding out variances, if any. The comparison of budgeted figures with actual figures will help the management to find out variances and take corrective actions without any delay. ACCORDING TO INSTITUTE OF…
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BUDGETARY CONTROL Budgetary control is the process by which budgets are prepared for the future period and are compared with the actual performance for finding out variances, if any. The comparison of budgeted figures with actual figures will help the management to find out variances and take corrective actions without any delay. ACCORDING TO INSTITUTE OF…
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BUDGET IN ACCOUNTING Budget means a quantitative statement, prepared before a particular period to serve as an estimate of future receipts and disbursements. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “Budget is a plan quantified in monetary terms prepared and approved prior to a defined period of time, usually showing planned income to be…