Question { 6755 }

what is gap analysis?

Answer

In business and economics, gap analysis is a business
resource assessment tool enabling a company to compare its
actual performance with its potential performance. At its
core are two questions:

Where are we?
Where do we want to be?

Question { Bank Of America, 34508 }

golden rules of accounting?
how bank earn profit?

Answer

The main function of banks are accepting deposits from
public and lending the same. The difference in rate of
interest for acquiring deposit and lending loan is called as
"spread" and the same is the main source of income for
banks. Bank also getting income by agency function like
collecting chq, follwing standard instruction and other
utility functions.

Question { 3469 }

Dear Sir/madam,

Is this possible that Service Tax and VAT on a similar item
at a time?

Answer

Its possible to impose VAT & Service tax on same "item" for
example, Idly sales in hotel having AC facility. Idly is
material - so sales & serving on table is service - so
service. So On sale of food articles etc., both VAT &
Service Tax will be applicable. Like wise construction of
building - Supply of Material by steel, cement etc and
service by labour. However, on same "value" both is not
applicable. For example, in case of construction of building
having Rs.10 lac contract value, on Rs. 6.7 lacs VAT will be
levied. And on balance Rs. 3.3 lacs Service Tax will be levied.