Can I run multiple businesses on a single GST as a sole proprietor Yes, as a sole proprietor, you can run multiple businesses on a single GST registration. However, you would need to mention the details of all your businesses while applying for GST registration, including their names, addresses, and types of goods or services… Read More »
TDS Compliance Meaning TDS compliance meaning entails adhering to the regulations outlined in the Income Tax Act, 1961, pertaining to Tax Deducted at Source (TDS).. It involves the proper deduction, deposit, and reporting of TDS by the deductor (the person responsible for making specified payments) to the tax authorities. TDS compliance encompasses several aspects, including:… Read More »
Can I use a single GST number for selling products and services Yes, you can use a for selling both products and services. The GST system is designed to accommodate businesses that deal in a single GST number for both products and services. Under the GST law, all goods and services supplied are subject to… Read More »
TDS compliance in tax audit report TDS compliance in tax audit report, In the context of a tax audit report, ensuring compliance with TDS (Tax Deducted at Source) is a vital factor that requires attention. Here are some key considerations regarding TDS compliance in a tax audit report: Verification of TDS Deductions: The tax auditor will… Read More »
Legal barter transaction Legal barter transaction, Yes, GST (Goods and Services Tax) may be levy on a legal barter transactions done between two companies. According to the GST Act, any supply of goods or services made for a consideration in the course of business or commerce is taxable, including barter transactions. The value of… Read More »
Process for charging GST Process for charging GST, If a local supplier in India purchases goods or services from an international supplier, the local supplier would be require to pay the Integrated Goods and Services Tax (IGST) on the import of goods or services, and the local supplier can claim the credit of such IGST… Read More »
How to do GST compliance for private limited company Compliance with GST for a private limited company entails meeting the prescribed guidelines and fulfilling the requirements of the Goods and Services Tax (GST) as established by the tax authority. Here are some key aspects of GST for Private limited company: GST Registration: If your company… Read More »
GST for Ecommerce Operator GST for Ecommerce operator, involves fulfilling the Goods and Services Tax (GST) requirements set by the tax authority. Here are some key aspects of GST compliance for an e-commerce operator: GST Registration: An e-commerce operator is required to obtain GST registration, irrespective of its turnover. The registration process involves providing… Read More »
GST compliance for ecommerce GST compliance for ecommerce, Ensuring GST compliance is vital for e-commerce businesses in India to adhere to the regulations set by the Goods and Services Tax (GST) system. Here are key points to consider for Gst compliance for ecommerce GST Registration E-commerce operators are require to obtain GST registration, regardless of… Read More »
Long-term capital asset In income tax, Long-term capital asset refers to any asset that is held by an individual or a company for a period of more than 36 months before being sold. The sale of such assets generates long-term capital gains or losses, which need to tax at a different rate than short-term capital… Read More »