Differences in ITC availed in GSTR-3B Vs GSTR-2A INTRODUCTION: As per the GST Law, input tax credit [ITC] can be availed by the registered person on the inward supplies of goods/services used/intend to be used in course of business of making taxable supplies/zero-rated supplies. ITC can be availed subject to satisfaction of conditions set …
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 …
The goods and services that are used for CSR activities are eligible for Input Tax Credit (ITC) under the Goods and Services Tax (GST) system in India. To claim ITC on CSR activities, the company must ensure that it has a valid GST registration and that it has paid the GST on the goods and …
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 …
MARGIN SCHEME UNDER GST In the “Margin Scheme” taxpayers who are dealing in second-hand or used goods, may at his option, discharge tax on the sale of used or second-hand goods on the margin amount which is the difference between the selling price and purchase price of the goods. The margin scheme is non mandatory …
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 …
FILING FOR REGISTRATION BY PROVIDER OF OIDAR What are OIDAR Services Online information and database access or retrieval services means services provided by the means of Information Technology, over internet or electronic network, such as advertising on internet, cloud services, e-books, downloading movies, software, online supplies of digital content (movies, t.v shows, music, data storage, …
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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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