Is GST Registration Required for Small Wholesalers If you’re a small wholesaler in India, one of the most pressing questions you might have is whether you need to register for Goods and Services Tax (GST) if your annual turnover is less than ₹20 lakhs. The answer depends on several factors, including your business activities… Read More »
Section 194Q of Income Tax Act Section 194Q of the Income Tax Act, introduced in the Union Budget 2021 and effective from 1st July 2021, is a provision that specifically applies to buyers making payments to resident sellers for the purchase of goods. To visit:https://www.incometax.gov.in According to this provision, if a buyer makes payments exceeding… Read More »
What is referral income and how is it taxed Referral income refers to the commission or incentive received by an individual for referring someone or a business to another individual or company. Referral income form of income is commonly earned by professionals in the sales or marketing field and it is taxed. To visit https://www.gst.gov.in/… Read More »
User Intent Users searching for this topic likely want to understand whether a business without GST registration can issue a tax invoice. They may be business owners, entrepreneurs, or accountants looking for legal clarity. This article provides a step-by-step explanation, covering definitions, applications, benefits, limitations, and comparisons. Introduction Tax invoices play a crucial role in… Read More »
