Monday, 20 February 2017

Live IPL Auction 2017, Bengaluru: Pune Break Bank For Stokes, Bangalore Spend Big On Tymal Mills

Live-IPL-Auction-2017-Bengaluru
Live-IPL-Auction-2017-Bengalur

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Sunday, 19 February 2017

{Live} VIVO IPL Player Auction 2017 Date, Time and Player list with Base Price

VIVO IPL Player Auction 2017

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GST news| GST council approves state Draft bill

 GST-council-approves-state-Draft-bill

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GST news: Centre will cover state revenue loss from GST rollout for 5 years

 Centre-will-cover-state-revenue-loss-from-GST-rollout-for-5-years

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Role of CMAs in the GST |Cost and management accountant role in GST

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Cost management accountant role in GST

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Saturday, 18 February 2017

Penalty for late payment of service tax and return for the FY 2016-2017

 
In This article we are going to cover Interest on late payment of service tax penalty on late payment of service tax interest on late payment of service tax for fy 2016-17 service tax interest rate 2016-17 service tax interest rate for fy 2016-17
ayment interest calculation 2016-17 service tax interest calculator fy 2016-17 due date of payment of service tax
 

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Penalty for late payment of service tax

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Due Dates for Service Tax Payment & Return Filing| Service Tax Return Filing Due Date

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 Service Tax Return Filing Due Date

Hello guys here you going to see about Due Dates for Service Tax Payment & Return Filing.service tax payment due date for private limited company service tax payment due date 2016-17 service tax payment due date 2017-18 service tax return due date interest on late payment of service tax penalty for late filing of service tax return


 Due Dates for Service Tax Payment & Return Filing:Due dates for service tax payments vary according to the entity's business structure. Individuals, owners and partnerships must make payment on a quarterly basis, while limited liability companies, sole proprietorships and limited liability companies must make a monthly payment. The tax rate for services is currently 15% and all payments collected can be filed online or physically. Keep in mind, however, that due dates for physical payments fall one day before the due date for online payments.

Due date for payment of service tax for individuals, individual owners and partnerships


Individuals, sole proprietors and partnerships are required to make tax payments on services once per quarter, regardless of the total tax payment. However, if total payments exceed Rs. 1 lakh per year, payment must be made online.

Online Dates: The deadline for the first quarter (April to June) is July 6th. From July to September, it is October 6, October to December, January 6 and January to March, March 31.

Any other chain: The first quarter (April to June) due date is July 5, July to September, October 5, October to December, January 5 and January to March, 31 March.


Due date for payment of the service fee for companies and LLPs


Limited liability companies, single-member companies and limited liability companies are required to make service fee payments once a month. If total payments exceed Rs. 1 lakh per year, payment must be made online.

Online Dates: The due date is the 6th of the month, when payment is due for the previous month. For example, before May 6, the payment of the service fee must be made for the entire month of April. The exception is March, the deadline being March 31. This means that the declarations of service for the month of March are due on the last day of the same month.

Any other channel: The due date is the 5th of the month, when payment must be made for the previous month. For example, before May 5, the payment of the service fee must be made for the entire month of April. The exception is March, the deadline being March 31. This means that the declarations of service for the month of March are due on the last day of the same month.

Also Read:
Penalty for late payment of service tax and return for the FY 2016-2017

How to Make a Service Tax Payment


Online Payment: To make payment online, which is called electronic payment, you must have a net bank account with one of the banks listed here. Note that some private banks are only available in certain divisions. If you are already doing so, just log in to this NSDL page and enter your 15-digit service tax number. Enter the captcha code and verify your personal data, which will appear on the screen.

Now check the Service Tax Accounting field. You must now select your industry (air travel agency, advertising agency, etc.). Then enter the Krishi Kalyan Cess field in the second table.

Once completed, find your bank and make the payment. You will receive an acknowledgment of receipt indicating the Challan ID. This is proof, to be shown at the time of filing your statements.

Physical Payment for service tax payemnt
Payment must be made at a branch via the GAR-7 challan, which you can download here. On the payment, the cashier will affix the challan identification number, which contains the serial number of the challan, the BSR code of the bank and the date of the deposit. All three must be stamped to be valid during the filing of the return.

Service Tax Return Filing Due Date -Declarations of service


The filing deadline for the first half of the year is October 25 and April 25 for the second half of the year.

ST-3 Returns: Generally, an assessable service tax must produce two types of declarations: ST-3 Returns and ST-3A Returns. ST-3 Returns apply to a registered valuation. The ST-3A returns apply to persons who perform an interim assessment under Rule 6 (4) of the 1994 Service Tax Rules. You must file ST-3 returns twice during a fiscal year on a Half-yearly basis.

If you wish to file your online tax return, you must first register with ACES (Central Automation Central Excise and Service Tax) by visiting the Central Board of Excise and Custom website.

Once you have registered, the site will send you a user ID and password using the Central Excise and Custom Office website to access the FORM ST-1. Then complete the online form by putting all the required information and make an electronic payment using your chosen bank. You can also review your service tax returns to correct an error or omit something. If you do not file your returns within 15 days, from the prescribed due date of the returns, you must pay a penalty of Rs. 500.
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Friday, 17 February 2017

A 7-year-old girl asked Google a job - and got a personal response from CEO Sundar Pichai




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Sunday, 12 February 2017

{Best approach} Importance Or Advantages Of Flexible Budget|Management Accounting

Flexible budget: Importance and methods of preparation and Here you can see purpose of flexible budget advantages of flexible budget over static budget flexible budget example how to calculate flexible budget
advantages of fixed budget flexible budget example in healthcare flexible budget variance flexible budget questions and answers Importance Or Advantages Of Flexible Budge.


Importance-Or-Advantages-Of-Flexible-Budget
Importance Or Advantages Of Flexible Budget|

Importance or Benefits of a Flexible Budget:

The usefulness or importance of a flexible budget is highly dependent on the accuracy of the classification of fixed, semi-fixed and variable expenditures. The important advantages of a flexible budget are:

* A flexible budget allows management to analyze the gap between actual production and expected output.

* Management can compare actual costs to actual volumes with budgeted costs at actual volume.

* The flexible budget provides a correct basis for comparing actual and forecasted costs for a real activity.

* Flexible budget helps to achieve cost control goals as it shows where the actual performance deviated from the expected performance.

Also Read:
5 Types of Budgets for Businesses|Explain the different types of budgets in detail
{Detailed analysis} What is the difference between a budget and a forecast?

The Chartered Institute of Management Accountants in England defines a flexible budget (also referred to as a mobile-scale budget) as a budget which, recognizing the difference in behavior between fixed and variable costs in relation to fluctuations in output, Business or other variable factors As a number of employees, is designed to change appropriately with such fluctuations.

Thus, a flexible budget gives different budgeted costs for different levels of activity. A flexible budget is prepared after an intelligent classification of all expenditures between fixed, semi-variable and variable variables, as the usefulness of such a budget depends on the accuracy with which expenditures can be classified.

Flexible budgets represent the amount of expenditures that are reasonably necessary to achieve each specified level of return. In other words, quotas under a flexible budget control system serve as standards for costs at each level of production.
Importance-Or-Advantages-Of-Flexible-Budget
Advantages Of Flexible Budget|

 Importance Or Advantages Of Flexible Budget|Management Accounting

Such a budget shall be prescribed in the following cases:

1. When the level of activity during the year varies from period to period, either because of the seasonal nature of the industry or because of the change in demand.

2. When the activity is new and the demand is difficult to predict.

3. When the company suffers from a lack of a factor of production such as material, labor, production capacity, etc. The level of activity depends on the availability of such a factor.


4. When an industry is influenced by fashion changes.

5. In the event of general changes in sales.

6. When business units continue to introduce new products or frequently change the design of their products.

7. When industries are engaged in manufacturing activities to order such as shipbuilding.

Utility (or importance) of the flexible budget:

The central importance of the flexible budget is that it reflects the appropriate spending at different levels of production. Flexible budget expenditure is appropriate for comparing actual expenditures incurred with the budgeted level applicable for that particular level of activity achieved

The following points show the usefulness or the importance of the flexible budget:


1. The flexible budget provides a logical comparison of the budgeted allocations with the actual cost, ie a comparison with a comparable basis.

2. Flexible budget accounts for operational realities and streamlines the control function and profit planning. It gives a balanced perspective on the comparison. When the flexible budget is prepared, the actual cost to actual activity is compared to the budgeted cost to actual activity, that is, two things on the same basis.


3. A flexible budget recognizes the concept of variability and provides a logical comparison of expenditure with actual expenditure as a means of control.

4. With a flexible budget, it is possible to establish the budgeted cost for any activity.

5. A flexible budget is very useful for budgetary control because it corresponds to the evolution of the level of activity.

6. It is useful for evaluating the performance of department heads because their performance can be judged against the level of activity achieved by the organization.

7. The determination of costs at different levels of activity is possible because a flexible budget is prepared for various levels of activity.

8. It is useful for setting prices and for sending quotations.

In conclusion, a flexible budget is more useful, elastic and practical.

Types  flexible budgets Methods


There are three ways to prepare a flexible budget:

1. Tabular method or multi-activity method.

2. Mapping method.

3. Formula method or ratio method.mns
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{Updated} Income Tax Important Due Dates for FY 2016-17 and AY 2017-18


 Income-Tax-Important-Due-Dates-for-FY-2016-17-and-AY-2017-18
 Income Tax Important Due Dates for FY 2016-17

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