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Organised retailers do not expect the Goods and Services Tax (GST) to impact their sales despite general fears that it could disrupt businesses, and hope to be fully ready for the uniform tax regime in the next few weeks. “As GST will be rolled out from July 1, we have to be prepared. It will
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Finance minister Arun Jaitley presented the Union Budget 2017 in Parliament on Wednesday. The biggest highlight in the 2017 budget was the slashing of income tax by half for individual tax payers, ban on cash transactions over Rs. 3 lakhs and reduction in holding period to 2 years for capital gains. In this article, we
Learn MoreCost accounting involves the techniques for: 1. determining the costs of products, processes, projects, etc. in order to report the correct amounts on the financial statements, and 2. assisting management in making decisions and in the planning and control of an organization. For example, cost accounting is used to compute the unit cost of a
Learn MoreAccounting is a vast and dynamic profession and is constantly adapting itself to the specific and varying needs of its users. Over the past few decades, accountancy has branched out into different types of accounting to cater for the diversity of needs. Financial Accounting, or financial reporting, is the process of producing information for external
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