Tag Archives: #FinancialRisks

Is there any risk in taking GST on home address?

Risk in taking GST on home address For many small business owners or freelancers, using a home address for Goods and Services Tax (GST) registration is a common practice, especially if they don’t have a commercial office space. But is there any risk involved in this? Let’s explore the potential concerns: Legal Compliance As long… Read More »

What are the implications of non registration with GST?

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 are the disadvantages of a single member LLC?

The disadvantages of a single member LLC A single-member LLC, similar to other business structures, comes with its own set of drawbacks.   Here are some of the common disadvantages associated with a single-member LLC 1. Limited liability protection: While a single-member LLC provides some liability protection for the owner, it may not offer the… Read More »