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2015

Important Amendments

  • The Gujarat State Government has recently issued a Notification No GL/Vat/68 & 69/(1)/Dt. 03/12/2014
  • Govt. of Gujarat by their public circular has provided following requirements for goods going outside Gujarat State or coming in the state and passing through state to another state. Up till now Form No. 402-403 were required to obtain online for specific goods & so obtained forms were required to be produced before check post officer or person in charge or barrier. Form No. 405 (transit Pass) was required to be produced before the goods crossing last check post, but w.e.f. 15.12.2014, all taxable goods are considered as specific goods & all necessary forms were required to be received by electronic system or unique code of particular firm under this system.

This procedure relates to:-

  1. All taxable goods
  2. The procedure is applicable to goods entering in the state or going out of the state or entering in the state for movement to other state. (Form No. 402,403 & 405)
  3. The above procedure can be obtained for goods moving within state (Intra State movement)

2015
  • With its massive drubbing in the Delhi Assembly Elections, the BJP government is likely to attempt to keep the euphoria of the Modi wave alive with a please all Budget for the financial year 2015-16.
  • The budget will attempt to be mindful of retaining BJPs charm in its recent assembly electoral gains in states other than Delhi.
  • This budget will be largely focused on the Make in India campaign, but what the common man can expect from the Budget this year, let’s take a look –

2015

Mathematics Behind Sensex

  • Sensex is a barometer of Indian Capital Markets.
  • It is the oldest stock market index in the country.
  • The term Sensex refers to Sensitivity Index.

How the Sensex is calculated?

  • The Sensex is calculated taking into consideration stock prices of 30 different BSE listed companies. These are large, well-established and financially sound companies from main sectors. The stocks are selected based on a lot of qualitative and quantitative criteria.

2015

All business material should be written in a professional way which means that it should be clear, concise, and formal. Avoid technical jargon that only industry insiders will understand. Also avoid buzzwords. So what exactly is meant by clear and concise business writing? Well, clear and concise means that you should avoid:

Vague or ambiguous statements

While writing business documents you should avoid vague and ambiguous statements that the reader may not be able to understand or interpret.

2015

Q 1. What is GST?

  • Goods and Services Tax — GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level.
  • Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain.
  • The system allows the set-off of GST paid on the procurement of goods and services against the GST which is payable on the supply of goods or services. However, the end consumer bears this tax as he is the last person in the supply chain.
  • Experts say that GST is likely to improve tax collections and boost India’s economic development by breaking tax barriers between States and integrating India through a uniform tax rate.

Financial Management