Non-payment Non-payment, If you do not pay an invoice, there can be several consequences depending on the situation. Here are some of the possible outcomes: 1.Late payment fees or interest charges: The first consequence of not paying an invoice on time is that you may be charged late payment fees or interest charges. This is… Read More »
Risk in taking GST on home address There is no inherent risk in taking GST registration on a home address. Before taking GST registration on a home address, certain factors must be considered. For more information visit this site: https://www.gst.gov.in/ Firstly, it is important to ensure that the residential premises is a suitable place of business,… Read More »
Consequences Website Link Consequences: Failure to comply with the e-invoicing requirements under the new Goods and Services Tax (GST) regime in India can have several consequences: Penalty: Failure to comply with the e-invoicing requirements may lead to penalties, which can range up to Rs. 10,000 or 1% of the transaction value, whichever is higher. 10,000… Read More »
The implications of non registration with GST Non-registration with GST can have various implications, such as: If a business is not registered under GST, it cannot collect GST from its customers. This means that the business will have to bear the tax burden on its own, which could impact its profitability. To visit:https://www.gst.gov.in/ Penalty for… Read More »
What if I do not pay my income tax If you do not pay your income tax, it will be considered as taxes evasion, which is a serious offense under the Income Tax Act in India. If the Income Tax Department finds out about the non-payment of tax, it can take various legal actions against… Read More »