How to File GST Return Online for Taxpayers in India?
The Goods and Services Tax (GST) is an indirect tax reform which was introduced in India on 1 July 2017. GST is a single tax on the supply of goods and services, from the manufacturer to consumer. It replaced most of the indirect taxes levied by the Central and State governments in India. The GST […]
Procedure for Conversion of Private Limited Company to LLP in India
Procedure for Conversion of Private Limited Company to LLP in India Private limited companies have their own set of compliances. Although, private limited companies carry their own benefits, however, multiple compliances prove to be costly and inconvenient to some businesses. But what’s the solution then? A good way out is to convert the private limited […]
Close Down Your Business
In businesses, it might happen that the directors may decide to shut down the business. Explicit provisions have been laid down for closure of companies under the Companies Act 2013. This is followed by the Insolvency and Bankruptcy Code, 2016 which contains detailed provisions for insolvency and dissolution of the company in certain peculiar cases. […]
How to Check GST Registration status
What is ARN or Application Reference Number – an Overview When a taxpayer makes an application for the GST registration, a unique reference number is issued on the GST portal. This number is called ARN i.e. Application Reference Number. ARN is generated after the successful submission of the registration application on the portal. ARN is […]
How to change GST registration details?
How to Change GST Registration Details? After obtaining GST registration, there might be changes in the particulars furnished at the time of application for registration. This may be due to a change in the principal place of business, change in residential address, change in banking details or update in the mobile number or email ID. […]
Impact of GST on Agricultural Sector
The Agricultural sector is of utmost importance in India as it is the main source of sustenance for a vast majority of the population. Indian agriculture is heavily reliant on rain-fed irrigation and floods account for almost 60% of the country’s annual rainfall. The sector employs around 54% of India’s workforce and is responsible for […]
HSN Code List & GST Rate Finder
Do you know that GST for goods and services is determined based on the HSN code of an item? All goods and services sold in India are classified using the HSN code system under GST. The HSN Code is used to classify goods. GST rates are divided into five slabs based on the HSN with […]
HOW TO SURRENDER GSTIN NUMBER AND WHEN IT CAN BE CANCELLED
Under GST, every person with an aggregate turnover in a financial year exceeding Rs. 20 lakhs is required to take GST registration. However, the GST law provides specific provisions according to which the registration can be cancelled or surrendered. When the registration of a taxpayer is cancelled, he or she will no longer be registered […]
How to Save Tax in India for a Private Limited Company
Incorporating a private limited company offers a very efficient tax structure for doing business in India. Further, in this era of startups, private limited company registrations have boomed in India as it makes fund raising a lot easier than other business constitution formats. However, when it comes to saving taxes, individuals normally use the provisions […]
HOW TO INCORPORATE A PRIVATE LIMITED COMPANY?
With the startup environment booming across the country and an increasing number of people trying to strike out on their own, it’s more important than ever to be well-versed in various business models. So, are you looking to register your Private Limited Company for GST? Do you wish to register your Pvt Ltd Company online? […]