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,
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
Adjustments in GST forms are made when there are errors or discrepancies in the details of sales and purchases reported earlier. For example, if a business discovers that it has reported incorrect details in GSTR-1 or GSTR-2, it can make adjustments in the next return. If a business discovers that it has not claimed input
Filing of GSTR-9 for FY 2021-2022 What is the GSTR-9 annual return? GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note: It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST
Mandatory Reporting of HSN Code refers to the requirement for businesses to mention the relevant HSN code for each item of goods or services they are trading, in their invoices and other trade-related documents. This is usually required by governments for tax and trade reporting purposes. REPORTING OF 4-DIGIT HSN CODES IN GSTR-1 WITH TURNOVER
FREE TOOLS FOR GENERATING E-INVOICES FOR SMALL TAXPAYERS To ensure that businesses get enough time to adapt to the new system of electronic invoicing, the GST Council has approved the introduction of e-invoicing in a phased manner For businesses with a turnover of ₹500 crores and more, e-invoice is already introduced from 1st October 2020.
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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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