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Posted By: CA Jaydeepsinh Zala

IND AS is hitting NBFCs from FY 18-19.This blog gives brief about areas of impact & major differences & also about what impact will it have on key performance ratios, profitability & net worth.

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Input Tax Credit On Free Samples

Posted By: Sunil Agnihotri

Section 17(5)(h) of the IGST ACT Provides that No input tax credit is available if goods lost, stolen, destroyed , written off or disposed off by way of gift or free sample. Hence on combined reading of the above, Input tax credit on inputs & services used in free sample should be reversed.

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Clarifications and Changes Post VAT Implementation in Saudi Arabia

Posted By: CA Mitesh Katira

VAT is implemented in the Kingdom of Saudi Arabia with effect from 1st of Jan 2018. Even the first monthly return was due on 28th of Feb 2018. This being a transactional tax change, it has impacted the way business was done apart from the cash flow and P & L to a great extent. This article lists down the ongoing clarifications, press releases and changes post VAT implementation.

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