GST AUDIT: MEANING, TYPES, AND OBJECTIVES Analysis on GST Audit is necessary for verification purpose. GST Audit is verification of the original records, returns and other documents kept with the taxpayer at the business premises (including all Additional Place of business) and correlating them with the information furnished by the taxpayer on the GST Portal …
Highlights of 48th GST Meeting includes some key points such as changes in GST rate,clarifications on GST rate. HIGHLIGHTS OF THE 48TH GST COUNCIL The 48th GST Council meeting was held on 17th December 2022, Saturday, virtually from New Delhi. The meet being chaired by Finance minister Smt. Nirmala Sitharaman. Here are some key highlights …
Filing of LUT on GST Portal is very simple process that enables taxpayers to claim exemption from the payment of Goods and Services Tax (GST) on their exports. To file a LUT, taxpayers need to have a GST identification number (GSTIN) and need to be registered on the GST portal. Once they are registered, they …
CBDT issues circular regarding TDS on salaries.Your salary from your employer is considered “income” and falls under the category of “salary.” Your employer is responsible for deducting tax at the applicable income tax rate from your salary based on your estimated income for the current financial year TDS ON SALARIES UNDER SECTION 192 FOR THE …
The applicability of GST on GTA depends on the specific circumstances of each case. Generally, GTA services are considered taxable under GST. However, there are certain exemptions and exclusions that may apply. For example, GTA services provided by an individual or a Hindu Undivided Family (HUF) with a total annual turnover of less than Rs. …
GST on YouTube Content Creator are applicable because these creators are considered to be engaged in the business of providing online services, and as such, their income from this activity may be subject to Goods and Services Tax (GST) in certain countries. In countries where GST applies, content creators who generate more than a certain …
Job Work Under GST is defined as any treatment or process undertaken by a person on goods belonging to another person. This includes activities such as manufacturing, repairing, altering, cleaning, or testing of goods. What is job work? Job work means processing or working on raw materials or semi-finished goods supplied by the principal manufacturer …
Casual Taxable Person Under GST regime is an individual or business that occasionally undertakes taxable transactions in a state or union territory where they are not registered for GST. For example, a business based in one state that occasionally provides services or sells goods in another state. Casual taxable person” means a person who occasionally …
To get avail of claim of ITC in GSTR-9 businesses need to ensure that they have paid the GST to their suppliers and that their suppliers have filed their returns and paid the GST to the government. Additionally, they need to ensure they have filed all the GST returns, GSTR-3B, GSTR-1, GSTR-2A and GSTR-2B during …
Reverse Charge Mechanism the recipient of goods or services is liable to pay GST to the government instead of the supplier. What is RCM under GST The Reverse Charge Mechanism (RCM) is the process of GST Payment by the receiver instead of the supplier. In this case, the liability of tax payment is transferred to the recipient/receiver instead of …
Return for E-Commerce Seller and Operators can vary depending on the specific company and their policies. In general, e-commerce operators and sellers will have a returns policy in place that outlines the conditions under which customers can return products. These policies may include time limits for returns, requirements for the condition of the product, and …
Rule132 under Income tax in India is related to the maintenance of books of account and other documents. This rule applies to taxpayers who are required to maintain books of account and other documents under Section 44AA of the Income Tax Act, 1961. RULE 132 UNDER INCOME TAX AND THEIR IMPORTANCE The Central Board of …
Legal Suvidha has been a one-stop Compliance Provider for all start-ups and entrepreneurs.
Want to Setup your business in India? Connect with the best Online Registration, Licenses and Return filing solution providers for business across India. Since 2007, LegalSuvidha has been a one-stop shop for all startups or entrepreneurs looking for a chartered accountant, company secretary or lawyer. We have been ensuring Startups and SMEs are fully compliant with India’s legal system. Over the past 15 years, the depth of our offerings has increased and that too at affordable prices and customer satisfaction has made our standing different and we are giving a tough competition to other online facilitators of legal services in India. We have the best team for Company incorporation, Trademark Registration, Auditing, Advisory and Tax Filing for large, medium, small businesses and Startups in India.
Most of the budding entrepreneurs are in dilemma about what kind of entity to register when they start their business. Should it be a private limited company, limited liability partnership, partnership firm, one person company or a sole proprietorship? Each of these has its advantages and disadvantages. The type of entity should be chosen only after one round of consultation with our experts, as they will be in a better position to guide on the same. For example, Registering as a private limited company would be a good fit for any venture that will look for funding at a later stage. You can contact Legalsuvidha for any type of registration and advice you need for your business transactions. We assure you of great professional service at a reasonable price. You can connect with us for a free check on the Company name availability.
The importance of intellectual property is very much but most of the businesses are not aware of the same. We at LegalSuvidha simplify the process for you to register a Trademark for your brand, to get copyright for your artistic, creative ability and will also help you in patenting the process after a proper patent search patents which will ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At Legalsuvidha, we are very well equipped to handle all your IP requirements. We facilitate trademark applications in just two days, copyright registration for all your software, pictures, audio, and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications.
To do any business in India, you need a license for almost everything. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. In case you have employees, You need a Professional Tax registration and Shops & Establishments Act Registration. If that’s not enough, you also need to file GST Returns and Professional Tax Returns.
There is a lot of importance of legal documentation when you start your business, whether with your Investors, partners/co-directors, employees and any vendors you deal with. By getting a lawyer to draft contracts or agreements with new vendors, employees, and investors, you’re ensuring that you have all the downsides covered. At LegalSuvidha, we connect you to lawyers who will deliver complex documents, from shareholders’ agreements and founders’ agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days.
It’s not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs, Central Board of Indirect taxes and Central Board of direct taxes once you register your business. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorized share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At LegalSuvidha, we facilitate all these services completely online. This means you can engage a professional on retainer for the year and we’ll ensure that all the formalities are completed for you while you focus on your business.
We are Authorized e-return Intermediaries and have recently launched our own ITR filing platform, this will help the salaried employees and businesses to get their ITR filed within the time and at a reasonable price. Through the use of automation, the system is highly effective and will help in filing ITR in up to 10 minutes for Salaried employees. We have on-boarded the best Chartered Accountants who will provide consultation for both Salaried employees and Businesses to file proper taxes to the government of India. This will help in avoiding legal notices in the future and will also help in getting the returns processed at the earliest. We are the first in the market to launch the ITR filing facility for FY 2018-19.
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