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Revocation of GST Registration

The GST, or Goods and Services Tax, has replaced indirect taxes such as service tax, VAT, excise duty etc. GST registration allows individuals to claim back the GST they pay for the goods and services they purchase. But GST authorities have the authority to cancel...

What are the FSSAI License Categories?

Individuals interested in starting a food business in India must apply for FSSAI licensing according to the FSSAI Regulation of 2011. Based on different types of companies, the government has set varied thresholds...

Convert Partnership Firm into a Private Limited Company.

When starting a business, they initially go for partnership or sole proprietorship because of compliance requirements and low budget. Further, they opt for the conversion of a partnership firm...

How to Get an FSSAILicense?

Food business operators in India need to get FSSAI licenses as they deal with food which is the most important requirement of human beings. FSSAI basic registration or license ensures that the food offered by a particular business aligns with the food safety regulations put down by the FSSAI...

GST Application Rejected

GST registration in Bangalore receives an exclusive identification number from a supplier from the concerned tax authorities. It serves as the taxpayer's identification, and every business or supplier with an annual turnover of Rs. 40 lakhs or more must go for GST registration...

Top 7 Benefits of a Private Limited Company

When registering a business entity, selecting the proper structure is vital in its operations. There are several advantages of private limited companies compared to LLPs. Starting a Pvt Ltd company is a smart way to venture into the business world...

A Comprehensive Guide to Submit ITR Form for Private Limited Company

Tax return forms enable the taxpayer to declare their expenses, income, investments, deductions, taxes etc. Most people perceive filing tax returns....

An Overview of GST Audit: Different Types, Objectives and Steps for Preparation

The tax reform launched by the Indian Government in 2017 introduced GST in India. This new scheme is an efficient tax mechanism that simplifies taxation by following the approach ...

GST Compliance: Everything That You Must Know

Major tax reform in the country has been ushered in by implementing the new GST tax system. The new system combines federal, state, and local taxes into a single, fungible tax. This needed improvement in reduced administrative red tape and improved...

MSME Registration Benefits – What to Know?

The MSMEs (Micro, Small, and Medium Enterprises) propel the nation's economy and are a critical factor in the socioeconomic development of emerging nations like India. The MSME industry in India has the second-highest employment rate, behind the agricultural sector...

What is Section 145 of the Income Tax Act, 1961?

Let us understand the standards and details of Section 145 of the Income Tax Act of 1961 for business owners. You must be aware of the clauses of the 145 Section of the Income Tax Act. You would also get a clear overview of Section 145(2) of Income Tax Act in this article...

Conversion Of Private Limited Company To LLP

Due to their numerous benefits, LLP companies are very common, as they are said to combine the business structures of both a company and a partnership. LLP has a reputation for combining flexible partnerships with company benefits. The LLP, or Limited Liability Partnership, ...

How To File Income Tax Return (ITR) Online With Or Without Form 16

An Income Tax Return, ITR, is a form where the taxpayer files details about the income they earned for the year and the applicable tax, investments, and dedications to the IT (income tax) department...

Special Economic Zones - Related Issues Under GST

The special economic zone, or SEZ, is an area that is one of the best-conceived for businesses. It is one of those regions that has economic laws that are very liberal when it comes to taxation, trading, labour regulations, customs, and quotas...

Definition of Scope of Supply under GST: Everything Explained

The Indian Government came up with the GST or Goods and Services Act in 2017 and the scope of supply under GST to handle the country's existent multi-faceted indirect tax policies. This new tax regime's main objective was to eliminate taxes' cascading influence...

Comprehensive Service Tax Education Guide to Know More

The positive list scheme of the service act under the Finance Act of 1994 incorporates a specific entry under Section 66D. This is called the Negative List...

Difference Between Limited Liability And Unlimited Liability

If you are establishing your own company, it is important to know about limited and unlimited liability. Understanding the differences will help you save your business...

Formation of a Company under Companies Act, 2013

Get a complete overview of the formation of a company Under Companies Act, 2013. Learn the minimum requisites to incorporate a company under this act.....

Section 50C of Income Tax Act

If you are selling or purchasing a property, it is important to know about the provisions mentioned in the Section 50C of Income Tax Act...

TDS on reimbursement of Expenses

TDS on reimbursement of expenses cannot be deducted from the bill amount for the purpose of tax deduction. The payer is not obligated to deduct TDS under 194C...

Income tax form 15G

The income tax form 15G is a declaration that can be filled out by the fixed deposit holders to ensure that there is no deduction of TDS from their interest for the fiscal year...

Startup India: Eligibility & Tax Exemptions

The Startup India campaign was started in 2016 with the aim of boosting entrepreneurship within the nation. This post will cover startup India tax exemption in India...

What are Prior Period Expences

Learning the impact of prior period expenses on your business's financial health is paramount. So, if you don't know where to begin, here's a guide...

What is the Difference Between NRE and NRO Accounts

Are you confused between NRE and NRO accounts? Explore the significant differences between NRE and NRO accounts in this post to understand their benefits and features for managing your finances effectively...

How should I file TDS TAN Quarterly Returns

Want to know how to file TDS quarterly returns accurately and effectively? Get step-by-step guidance and essential tips for a hassle-free filing process...

What is Input Tax Credit in GST

Is the concept of input tax credit under GST confusing you? You can explore the topic in detail in this post to learn how it works...

What is Export of Services in GST

How is the GST levied on the export of Services under GST, and how can you claim a refund? Find the answers below...

How to File GST Returns

A taxpayer who has registered under GST has to do GST return filing. Learn more on how to file GST returns online...

Importance of Incometax Returns

Discover the Significance of Income Tax Return Filing. Understand the Importance of Filing Income Taxes for Financial Wellness and Compliance. Read on...

What is Form 15 CA and 15 CB

Are you making foreign remittances? If yes, learn about the importance of Income Tax Form 15 CA/CB here...

Reversal of ITC under GST

The input tax credit, ITC is the credit for the GST paid on buying services or raw materials for the sale or manufacturing of products. If this is availed wrongly, then the reversal of ITC happens by paying the same amount as the wrongly availed amount...

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