Amendment of GST Registration
GST Registration is the first and the most essential part of the GST Law. All taxpayers need to register themselves first in order to pay GST on the supply of goods and services. There are specific criteria defined under the GST law according to which the taxpayers shall take registration under GST. When a taxpayer […]
Alternate Minimum Tax (AMT)
The income tax act contains various provisions providing huge deductions and tax holidays. Assessees benefitting from these provisions usually end up paying marginal to no tax over a period of time causing revenue loss to the exchequer. Therefore, provisions relating to Minimum Alternate Tax u/s 115JB and Alternate Minimum Tax u/s 115JC were introduced that […]
A complete guide on GST Returns on Exports & Refund Process
Under the GST law, the export of goods and the refund process in relation to such exports have always been critical topics. After all, there are various different provisions applicable to different circumstances. Then there are refund and return processes that are too lengthy and complex. To cater to these difficulties, a new GST return […]
Board Resolution Format for GST Registration
GST registration is mandatory for companies that have an annual turnover above the criteria given by the government at a given point. Right now, it is 10 lakhs INR for companies in the specified northeastern states and 20 lakhs INR for the rest of India in case of the supply of services. In the […]
Benefits of Pvt Ltd Company Registration
A private limited company is a popular choice among the new generation of entrepreneurs who have big dreams for their business. That’s because the structure confers several benefits for the business owners. The most important among these is the limited liability protection and the ease of raising capital. Let’s take a closer look at each […]
Know About Llp Audit Requirement in India – Complete Overview
Once you complete your LLP incorporation, you need to comply with the requirement of the Limited Liability Partnership Act, 2008 as well as the taxation laws. Audits form an important part of the LLP compliance checklist. Audits and annual filings for LLP are required as per the following laws: If you have obtained LLP registration, […]
GST on Apparel, Clothing, and Textile Products
The textile industry is one of the oldest and largest industries in India. It is also one of the most important sectors from the point of view of employment and exports. The sector employs nearly 45 million people, directly or indirectly. Textile products account for nearly 17% of India’s exports, making it one of its […]
GST Compliant Private Limited Company (PLC) Registration
Do you want to accelerate the business landscape of your company? In minutes, get done your register your Private Limited Company registration and obtain a GSTIN. This will be an effective stepping stone on the road to success and managing your business index with greater ease. Here the pertinent question is why and how? To […]
Annual Compliances for Private Limited Company
Once you obtain private limited company registration in India, you shall adhere to certain compliances under the Companies Act, 2013. The Companies Act, 2013 lays down explicit provisions that the companies shall comply with. However, apart from the Companies Act, 2013 being the primary regulatory law, the companies shall also comply with the two major […]
Buyer Not Responsible for Non Payment of GST By Seller
GST law contains stringent provisions when it comes to ITC. To track down the fraudulent claims and distribution of ITC, multiple conditions have been imposed in the GST Act. However, sometimes, genuine registered persons endure difficulties due to the stringent law as well as lack of compliance by their suppliers. In the recent case of […]