Practical compliance guides

Accounting and Bookkeeping · 12 min read

Retail Inventory Method vs Cost Method: FIFO, LIFO and Beyond

Valuing back from retail price against tracking actual cost per line. The rule, the threshold and what it means in practice. Current Indian practice.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 9 min read

How to Do Daily Sales Reconciliation for a Retail Store

Tying till takings to banking and to the sales ledger, every single day. The rule, the threshold and what it means in practice. Read the full guide.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

GST Composition Scheme vs Regular for Retailers: The Rs 1.5 Cr Question

The turnover limit, the rate difference and the input credit you give up. The rule, the threshold and what it means in practice. Read the full guide.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

Inventory Valuation Under AS-2 / Ind AS 2 for Indian Manufacturers

Lower of cost and net realisable value, with overhead absorbed at normal capacity. Set out with the working, not just the rule. With worked examples.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

Process Costing vs Job Costing: Which Fits Your Factory?

Continuous production against discrete jobs, and which your plant needs. The rule, the threshold and what it means in practice. For Indian preparers.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

Section 43B(h): The MSME 45-Day Payment Rule Manufacturers Must Know

Pay micro and small suppliers within 45 days or lose the deduction that year. Set out with the working, not just the rule. Reviewed by our CA team.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

ITC-04 and Job Work Under GST: A Manufacturer's Compliance Guide

Reporting goods sent to and returned by job workers, and the deadline for it. Set out with the working, not just the rule. Written by qualified CAs.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 9 min read

How to Calculate COGS in a Manufacturing Business (With Example)

Opening stock, purchases, direct labour and overhead absorbed into finished goods. Set out with the working, not just the rule. Browse the glossary.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 9 min read

The 85% Income Application Rule for Educational Trusts Explained

Apply 85% of income to your objects, or accumulate it formally in Form 10. The rule, the threshold and what it means in practice. Browse the glossary.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 9 min read

Fund-Based Accounting for Schools and Colleges: A Practical Primer

Keeping fees, grants and corpus in separate funds, and why auditors insist. The rule, the threshold and what it means in practice. Explained by a CA.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 10 min read

Section 10(23C) vs 12A: Tax Exemption Routes for Educational Institutions

Two exemption routes, different thresholds and different filings. The rule, the threshold and what it means in practice. Written by qualified CAs.

CACA Puja Pradhan · Jul 20

Accounting and Bookkeeping · 9 min read

Do Schools and Colleges Pay Income Tax in India?

When an institution is exempt, and what breaks that exemption. The rule, the threshold and what it means in practice. With the disclosure checklist.

CACA Puja Pradhan · Jul 20