Open AccessAnalysis of Financial Statement of NRC Agro with Special Reference to Goods and Service Tax
Author(s) -
Nalla Bala Kalyan,
Toopalli Sirisha
Publication year - 2019
Publication title -
international journal of scientific research in science and technology
Language(s) - English
Resource type - Journals
eISSN - 2395-602X
pISSN - 2395-6011
DOI - 10.32628/ijsrst196110
Subject(s) - business , indirect tax , service (business) , finance , value added tax , financial statement , accounting , tax reform , tax credit , ad valorem tax , double taxation , economics , public economics , marketing , audit
The analysis of financial statements is an important aid to financial analysis. They provide information on how the firm has performed in the past and what is its current financial position. Financial analysis is the process of identifying the financial strengths and weakness of the firm from the available accounting data and financial statements. The analysis is done by establishing relationship between the different items of financial statements. The target of this paper is to examine the major features of GST. GST also known as the Goods and Services Tax is defined as the giant indirect tax structure premeditated to maintain and enhances the economic enlargement of a country. Service tax was a tax levied by Central Government of India on services provided or agreed to be provided excluding services covered under negative list and considering the Place of Provision of Services Rules, 2012 and collected as per Point of Taxation Rules, 2011 from the person liable to pay service tax. Person liable to pay service tax is governed by Service Tax Rules, 1994 he may be service provider or service receiver or any other person made so liable. It is an indirect tax wherein the service provider collects the tax on services from service receiver and pays the same to government of India. This paper has also focused on the impact of GST (Goods and Services Tax) will be on Indian Tax Scenario.