GST Checklist for PVT Ltd Company GST Checklist for Pvt Ltd Company, Verify if your company meets the turnover threshold for GST registration. Apply for GST registration by providing the necessary documents and information. Invoicing and Documentation: Ensure that all invoices issued by your company are GST compliant, including details such as GSTIN, invoice… Read More »
Income Tax Act 1961 Section 195 of the Income Tax Act, 1961 is a crucial provision for the taxation of non-residents in India. It focuses on the tax implications of payments made to non-residents, ensuring that taxes are deduct at source (TDS) on specific types of income earn by non-residents from an Indian… Read More »
Pink tax Pink tax is a term used to describe the extra amount that women are charged for certain products or services that are marketed specifically to them, compared to similar products marketed to men. This can include items such as clothing, personal care products, and healthcare services. Pink tax is not a separate… Read More »
Is GST Registration Necessary for a Pvt. Ltd. Company with Exempted Services? Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, particularly when it comes to understanding registration requirements. For a Private Limited Company (Pvt. Ltd.) providing services that are exempt from GST, a common question arises: Is GST registration… Read More »
Tax Audit Introduction Taxation is a critical component of a country’s economy, ensuring revenue generation for public welfare and infrastructure development. However, to maintain transparency, accuracy, and compliance with tax laws, businesses and individuals must adhere to regulatory audits. One such essential audit is the Tax Audit. The objective of a tax audit is to… Read More »
GST invoices manually GST invoices manually, For businesses with a turnover of up to Rs. 1.5 crores in a financial year, GST invoices can be issued manually. 1.5 crores in a financial year, GST invoice can be issued manually. Here are the steps to issue a manual GST invoices: Create an invoice format that… Read More »
Is One GST Registration Possible for Different Businesses? Introduction Goods and Services Tax (GST) has revolutionized the taxation system in India, streamlining multiple indirect taxes into a single framework. Many entrepreneurs and business owners often wonder whether they need separate GST registrations for different businesses or if a single GST registration can cover all their… Read More »
The procedure for closing an inactive GSTIN The procedure for closing an inactive GSTIN to Login the GST portal using your credentials and navigate to the “Services” tab. From the drop-down menu, select “Registration” and then choose “Application for Cancellation of Registration.” Enter the GSTIN of the inactive registration that requires cancellation, along with the… Read More »
Types of GST In India, there are primarily four types of Goods and Services Tax (GST): State Goods and Services Tax (SGST): Levied by state governments on the supply of goods and services within the state. Central Goods and Services Tax (CGST): Levied by the central government on the supply of goods and services within… Read More »
Introduction Salt is one of the most essential commodities in daily life, used in cooking, food preservation, and even industrial applications. Given its significance, a common question arises: Are we paying tax for salt in India? This article explores the taxation policy on salt, its benefits, limitations, applications, and other related aspects. Definition Salt, chemically… Read More »