Seminar on different career choices for a chartered accountant..Whether to choose consultancy,industry job or practice..Do join for a seminar on Saturday,December 22 at 2:30 pm..Entry on registration basis(No fees)

New GST rates are out, here's what all just got cheaper
https://economictimes.indiatimes.com/news/economy/policy/gst-council-meet-heres-what-will-become-cheaper-for-you/articleshow/67206133.cms

As i discussed in class 4, GST Council meeting today has reduced rates on many items. Pls note that this is just GST Council recommending rate cuts. After this CG will notify these rates under CGST Act and IGST Act and SG under SGST.

Disclaimer : This update is only for knowledge purpose. Since rates on specific goods are not part of CA Inter syllabus, this update has no impact on exams. I am sharing these only for knowledge purpose

Another imp update is that change in return filing process would change and it would start on test basis from 1st April 2019. At present i dont think this amendment would be applicable for Nov 2019, but if Gov notifies all rules before 30th Aprilz they would get applicable for nov 2019 and we wl cover them through amendment class

Many students had been enquiring that they couldn't join the CA -Inter batch that started from 3rd December and if they join now will they be able to understand..

I have completed with contract Act and will be starting with Negotiable Act from January 2, Wednesday..
Its a altogether new Act with no connection to contract Act,so u can easily start with it

Contact:Seema ma'am (9310824912) for further enquiries

Lecture 1 of Negotiable Instruments Act,1881

https://youtu.be/LQlRHbTzqqk

*Outcome of 32nd GST Council Meeting -FM Arun Jaitley press meet*

*1. Threshold limit increased to 40 Lakhs*
Effective April 1, the GST exemption threshold has been raised from Rs 20 lakh to Rs 40 lakh. For hilly states and those in the North East, the threshold has been doubled to Rs 20 lakh.

*Earlier in a press talk AP FM said increased to 50lakhs, but it is increased to 40lakhs only as said by FM*

*2. Power to states*
Now states will be able to choose if they want to keep the GST exemption limit at Rs 20 lakh or Rs 40 lakh, Jaitley said.


*3. Composition limit increased to 1.5Cr from the present 1 cr*

The existing Composition Scheme turnover threshold raised to Rs 1.5 crore.
Those who use the scheme from April 1,2019

*4 Quarterly payment and Annual Return*
Now Composition tax payers will pay tax quarterly, but file returns annually.

*5 Composition scheme for services*
Those providing services or mixed supplies (goods and services) with a turnover up to Rs 50 lakhs will now be entitled to avail composition scheme.

*6 Rate for services under comp scheme @ 6%*
Compounding rate for services under composition scheme is fixed at 6 percent.


*7 RealEstate*
A committee has been set up to consider real estate GST rates, a consensus is yet to be achieved, says FM Arun Jaitley.

*8 Calamity cess by Kerela @1%*
GST Council lets Kerala levy 1% cess for 2 years on intra-state sales: Finance Minister arun jaitley.

Only for knowledge purpose. Would discuss its applicability for May 19 and Nov 19 exams in class

A great inspirational video to the start the day..

Have a great day!!

Official notification is out.. Foundation and cpt results on 23rd

Warm wishes to everyone on the joyous occasion of Lohri. May the festival bring warmth, happiness, and prosperity in your lives.

As i discussed in last video, we would be discussing abt CA Inter course in small video clips. This is the first video where I have discussed the syllabus and exam pattern of CA Inter exams

CA Foundation Knowledge Portal:
Attention everyone:- There are certain news going around in which it is being claimed that CA exams would be conducted in June 2019 instead of May 2019 due to Lok Sabha Elections. Dont believe such news. There is no final word from ICAI regarding this. Ignore such news and keep preparing for May 2019. All the best