Input & input services

“Input & input services” definition has been amended and therefore input used or intended to be used in the course or furtherance of business will be eligible for credit even if not used for outward supply. This will avoid litigation.Input service used or intended to be used in the course or furtherance of business will be eligible for credit even if not used for outward supply. This will avoid litigation.



Comments

Post a Comment

Popular posts from this blog

Valuation of Assets and liabilities

Image
Valuation of Assets and liabilities AS–14 requires valuation at carrying value in the case of pooling method. In the case of purchase method either carrying value or fair value may be used. Contingent liabilities are not fair valued. Under AS–21, AS–23, and AS–28, goodwill is determined based on book values rather than fair values. Ind AS 103 requires the acquired identifiable assets, liabilities and non-controlling interest to be recognised at fair value under acquisition method.Even contingent liabilities are fair valued.
Read more

Gujarat Secondary and Higher Secondary Education Board

Image
The Gujarat Secondary and Higher Secondary Education Board (GSHSEB) was constituted in 1972, following the enactment of the Gujarat Secondary Education Act 1972. Its Chairman and Deputy Chairman are appointed by the State Government. It has 16 ex officio members, and 44 other members drawn from academic organizations, legislative bodies and civil society. Various Committees with specific responsibilities function under the Board, such as the Executive Committee, Examination Committee, Finance Committee, Education Committee, and Magazine Advisory Committee.
Read more