Difference business Registration & license Compliance with laws, Business registration and a business license are two separate processes that are often required for operating a legal business. Here’s the difference between the two: Unique identification number Business Registration: Business registration is the process of officially establishing a business entity with the relevant government authorities.… Read More »
Where to register a partnership form of business Where to register a partnership form of business Partnership registration locations, The registration process for partnerships varies depending on the jurisdiction. In many cases, partnerships are registered at the local or regional level rather than with a central government agency. Here are some common places to register… Read More »
Company registration India In India, the registration of a company is open to any individual or group of individuals who meet the following criteria: Directors: A minimum of two individuals are required to act as directors of the company. The directors must be at least 18 years of age and must have a Director… Read More »
GST registration for multiple states GST registration can obtain a taxable person under GST in each of the State or Union Territory, from where the taxable supply of goods or services made. For example, if a restaurant operates in the States of Maharashtra and Delhi, then separate GSTIN would have to be obtained for Maharashtra… Read More »
RCM in GST The RCM stands for Reverse Charge Mechanism in GST. The Reverse Charge Mechanism is a concept under GST wherein the recipient of goods or services is liable to pay the GST instead of the supplier. To put it differently, the Reverse Charge Mechanism necessitates that the individual receiving goods or services obliged… Read More »
Section 44ADA The Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act, 1961, was introduced to simplify the tax compliance process for small professionals and to reduce their tax burden. This scheme is specifically designed for individuals. Hindu Undivided Families (HUFs), and partnership firms engaged in specified professions. It allows eligible taxpayers to… Read More »
Is GST Registration Necessary for a Pvt. Ltd. Company with Exempted Services? Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, particularly when it comes to understanding registration requirements. For a Private Limited Company (Pvt. Ltd.) providing services that are exempt from GST, a common question arises: Is GST registration… Read More »
Is one GST registration possible for different businesses Yes, the GST Act permits businesses to operate multiple businesses, business verticals, and business branches using the same GSTIN. This concept is known as Vertical Business in GST. Under this concept, you have the flexibility to register your various businesses and business branches under a single GST… Read More »
GST charge on consultancy services Understanding GST on Consultancy Services: Slabs and Rates The Goods and Services Tax (GST) has streamlined indirect taxation in India by merging various taxes into a single, unified system. For professionals providing consultancy services, understanding how GST applies is essential for compliance and financial planning. We’ll explore what the GST… Read More »
