📉 Asset or Liability? The Shocking Truth Every Business Must Know 🎯 You’re probably here because you’re          wondering: 👉 “Is input tax something I owe or something I own?”👉 “Does it benefit my business or burden it?” This article breaks down the truth behind it, revealing whether it’s… Read More »
User Intent The intent behind this article is to inform businesses, tax professionals, and stakeholders about the latest GST compliance updates in India for 2025. It aims to offer a detailed, step-by-step analysis of each change, including definitions, applications, benefits, limitations, comparative insights, and answers to frequently asked questions.​ Introduction As the Indian… Read More »
GST Due date Businesses usually make the payment of Goods and Services Tax (GST) when they file their GST returns. The GST due date tax payment can vary depending on the jurisdiction and the frequency of return filing. In most cases, businesses are required to pay the GST liability within a specified period after the… Read More »
Can I Use a Single GST Number for Selling Products and Services In India, the Goods and Services Tax (GST) is a comprehensive tax system that has streamlined the taxation process for businesses. A common question among entrepreneurs and small business owners is whether they can use a single GST number for selling both… Read More »
User Intent Users searching for this topic are looking to understand whether it is compulsory to recognize a Deferred Tax Asset (DTA) or Deferred Tax Liability (DTL) in financial statements. They may be accountants, finance professionals, business owners, or students who want to grasp the application, benefits, and limitations of deferred tax accounting.… Read More »
Written off Assets Written-off assets, When an asset is write off, the tax treatment depends on the type of asset and the reason for the write-off. If it is a business asset, such as machinery or equipment, that is being write off due to obsolescence or wear and tear, the write-off may be eligible… Read More »
Long-term capital gains tax India It is a tax on long-term capital gains tax India refers to the tax impose on the earnings generate from the sale of assets that are held for a long period of time. In the Indian context, long-term capital gains tax is applicable on the sale of assets such… Read More »
User Intent Many business owners struggle with filing their Income Tax Returns (ITR) efficiently to save on taxes. This guide aims to provide a step-by-step approach to filing ITR for businesses while maximizing tax savings legally. Introduction Filing an Income Tax Return (ITR) for a business is a crucial financial obligation. However,… Read More »
RCM in GST The RCM stands for Reverse Charge Mechanism in GST. The Reverse Charge Mechanism is a concept under GST wherein the recipient of goods or services is liable to pay the GST instead of the supplier. To put it differently, the Reverse Charge Mechanism necessitates that the individual receiving goods or services obliged… Read More »
Definition of GST invoice Definition of GST invoice, A GST invoice is a crucial document issued by a supplier to the buyer, containing all the necessary details of the transaction in accordance with the Goods and Services Tax (GST) Act in India. It serves as proof of the supply of goods or services and… Read More »