GST - Goods and Services TaxThe "Goods and Services Tax" was introduced to reduce and simplify the complex structure of Indirect taxes in the country. GST would be the comprehensive indirect tax that would replace all the other indirect taxes levied by the Central and the State governments of India.GST would tend to remove the cascading effect of taxes we call "taxes on taxes". … [Read more...] about What is the Full Form of GST?
BTST - Buy Today Sell Tomorrow"Buy Today Sell Tomorrow" is the facility offered by most of the brokers in India. With this option a trader may buy a share and keep it for upto 2 days (or more days depending upon your broker) including the day of purchase, before taking the delivery.With this facility a trader could hold the share in his account for more than a day, without … [Read more...] about What is the full form of BTST ?
OCC - Open Cash Credit"Open cash credit" account allows business owners to avail credit facility from their bank, without a need to formally apply for a loan. The account holder may utilize funds up to a sanctioned limit. The bank charges some interest on the money used by the account holder. The OCC account is best suited to small & medium enterprises (SMEs).Difference … [Read more...] about What is the full form of OCC Account ?
IASB - International Accounting Standards BoardInternational Accounting Standards Board is a UK based not-for-profit organization that develops and approves the globally accepted International Financial Reporting Standards (IFRS). IFRS is an Internationally accepted accounting standard that is currently used in more than 100 countries. … [Read more...] about What is the full form of IASB ?
GAAP - Generally Accepted Accounting PrinciplesGenerally Accepted Accounting Principles is a common set of rules, standards and procedures defined by the professional accounting authority for the purpose of financial reporting. GAAP is the widely accepted set of rules and standards that are used in recording and reporting the accounting information. … [Read more...] about What is the full form of GAAP ?