Verifying GST Registration of a Company Verifying GST registration of a company, Statutory audit and tax audit are two distinct types of audits conducted for different purposes. Statutory audit: A statutory audit is perform to ensure that a company’s financial statements provide an accurate and fair view of its financial position and performance. It is… Read More »
GST Registration Process: A Step-by-Step Guide In today’s evolving business environment, Goods and Services Tax (GST) has become a crucial part of the financial landscape for businesses in many countries. GST registration is a fundamental step for businesses to comply with tax regulations and avail of various benefits. If you’re a business owner or planning… Read More »
Cancellation of GST Number Permanently Cancellation of GST number permanently, To cancel or surrender a GST registration in India, whether voluntarily or by a GST officer due to default. The following steps need to be follow: Visit the GST portal at https://www.gst.gov.in/ and log in using your credentials. Navigate to the Services tab and… Read More »
Purpose of an Invoice Purpose of an Invoice, An invoice is a commercial document that meticulously records a business transaction between a buyer and a seller. Its purpose is to request payment and includes vital information such as the transaction date, a comprehensive description of the goods or services, pricing details, and payment terms.… Read More »
Taxability Of Invoices In India In India, invoices are not taxed directly. Instead, taxes such as GST (Goods and Services Tax) or VAT (Value Added Tax) are levied on the value of goods or services mentioned in the invoice. The tax amount is calculated based on the applicable tax rate and added to the invoice… Read More »
GST applicable for IT export services India has become a global IT hub, with numerous companies providing services to clients abroad. One of the most important considerations for IT companies is the applicability of Goods and Services Tax (GST) on exports, particularly for services. The GST law has specific provisions concerning export of services,… Read More »
Why is the output GST a liability Output GST is a liability because it represents the amount of GST that a business collects from its customers on sales made during a particular period. When a business sells goods or services, it charges GST to its customers, and this collected amount of GST is held as… Read More »
GST in India Co-working spaces have become popular in India, especially among freelancers, startups, and small businesses. They offer flexibility, cost-efficiency, and the opportunity to work in a dynamic, shared environment. However, as with any business arrangement, questions arise about legal liabilities, especially when it comes to taxes, such as the Goods and Services Tax… Read More »
How much time does a GST registration take nowadays The time taken for GST registration in India depends on several factors, such as the accuracy and completeness of the application, the number of documents required, and the workload of the tax authorities. To Visit https://www.gst.gov.in/ As per the GST Act, the tax authorities require to… Read More »
Can a minor get GST registration Yes, a minor can get GST registration if they have engaged in a business or profession. However, the registration must obtain in the name of the proprietor, who will responsible for all legal compliances and liabilities related to the business. For GST Registration https://www.gst.gov.in/ It is important to note… Read More »
