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GST

Normal Tax Payer VS Composite Dealer under GST

Composite Dealer An Assessee who comes under the Composition Scheme and is needed to comply with all the conditions mentioned therewith, is termed as a Composition dealer. Composite dealer is required to adhere with the rules & regulations created by the GST Council for Composition Scheme. Composition Scheme is referred as simple & easy scheme under GST for taxpayers. Small taxpayers can get relive of endless GST formalities & pay… Read More »Normal Tax Payer VS Composite Dealer under GST

Who Is Required to Get Tax Audit?

Tax audit leads to the verification of the books of accounts maintained by a taxpayer. Its purpose is to validate the income tax computation made by the taxpayer in the ITR (income tax return) and to ensure compliance with the laws of Income Tax. Auditing of books of accounts need to be carried out by a certified Chartered Accountant. Who Required a Tax Audit? A tax audit is essential for… Read More »Who Is Required to Get Tax Audit?