GST for Freelancers GST (Goods and Services Tax) number is not mandatory for all freelancers. Whether GST freelancers need to obtain a GST number or not depends on their specific circumstances and the nature of their work. To Visit https://www.gst.gov.in/ In general, if a freelancer’s annual turnover exceeds the threshold set by the government, which… Read More »
GST registration eligibility In India GST registration eligibility depends on businesses and individuals engaged in the supply of goods or services require to register for GST if their annual turnover exceeds Rs. 20 lakhs and Rs. 10 lakhs for businesses in some special category states). For more information to Visit https://www.gst.gov.in/ Some categories of businesses,… Read More »
Temporary GST number In India, there is no provision for obtaining a temporary GST number. A business must first apply for a regular GST registration number by submitting the required documents and completing the registration process. Once the registration is complete, the business will receive a permanent GST identification number (GSTIN), which can be used… Read More »
Convert regular GST to composition Convert regular GST to composition: To convert regular GST to composition scheme in India, you need to follow the below steps: 1. Log in to the GST portal (www.gst.gov.in. (http://www.gst.gov.in/)) using your registered credentials. 2. Go to the “Services” tab and select “Registration”. 3. Click on “Application to opt for… Read More »
Proof of address for GST registration When registering for GST in India, there are a number of documents that can be submitted as proof of address for GST registration. These include: 1.Aadhaar Card: This is a unique identification card issued by the Government of India, and includes the individual’s address. To Visit https://www.gst.gov.in/ 2.Passport: This… Read More »
Goods and Services Tax Yes, in India, as a service provider, you are required to pay Goods and Services Tax (GST) if your annual turnover exceeds the threshold limit of Rs. 20 lakhs (or Rs. 10 lakhs for some special category states). Even if your turnover is below the threshold limit, you have the option… Read More »
The GST rate for a hotel under composition Hotels that opt for the composition scheme under GST (Goods and Services Tax) are subject to a flat rate of 6% on their turnover. This rate is applicable to both AC and non-AC restaurants, as well as hotels and lodges with a room tariff of up to… Read More »
Can we provide a personal PAN number for GST registration No, you cannot provide a personal PAN (Permanent Account Number) number for GST (Goods and Services Tax) registration of a company. It requires a PAN number that specifically issue to the company by the Income Tax Department of India. For more information to Visit https://www.gst.gov.in/… Read More »
Corporate and non-corporate assessee In India, the term “assessee” refers to an individual or entity that is legally liable to pay income tax under the Income Tax Act, 1961. The Income Tax Act categorizes taxpayers into two groups based on their legal structure: For more information to Visit https://www.mca.gov.in A corporate assessee is an entity… Read More »
Section 40B The conditions are as follows: 1.The payment of remuneration should be authorize by the partnership deed or agreement. 2. The remuneration provided should be reasonable in relation to the profits generated by the firm. It should be specifically directed towards a working partner 3. who actively participates in the firm’s business… Read More »
