Accounting Accounting is the process of recording, classifying, summarizing, analyzing, and interpreting financial transactions and information. The objective of account is to provide information about the financial performance and position of an individual or organization, which helps in making informed decisions about their financial activities. In accounting, financial transactions are recorded in various books of… Read More »
New compliance under GST New compliance under GST, Here are some common compliances requirements under the Goods and Services Tax (GST) in India. GST Registration: Businesses whose turnover exceeds the prescribed threshold are required to register for GST. GST Returns: Registered taxpayers need to file regular GST returns based on their category and turnover.… Read More »
GST Compliance Issues GST Compliance issues,The characteristics and scope of GST compliance issues may differ based on the specific context and circumstances at hand. Here are some common GST regulations compliance issues that individuals and businesses may face: Timely Filing of Returns: One of the key compliance requirements under GST regulation is the timely… Read More »
GST and Income Tax GST and Income Tax ,GST (Goods and Services Tax) is a taxation system implement in India, which levies a value-added tax on the supply of goods and services. It is a comprehensive tax structure that encompasses various stages of the supply chain, ensuring that taxes are collect at each stage.… Read More »
Annual GST Return Annual GST Return, The Government of India has recently introduced some changes to simplify and streamline the process of filing annual GST returns for taxpayers. Here are the key changes: Single return form: Previously, different forms were use for filing annual returns based on the taxpayer category. Now, a single annual return… Read More »
International Taxation International taxation, Taxability of non-resident individual with active business in India If an individual who was a resident of India for 5 years and running a proprietorship business in India becomes a non-resident, the taxability of their business income in India will depend on the source of the income and the residential status… Read More »