Under the CGST Act, a non-resident taxable person who has registered under section 25 is not eligible to claim Input Tax Credit (ITC) on goods or services, except for goods imported by them. A non-resident taxable person is an individual who conducts temporary business in India but does not have a place of business in …
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The treatment of “Buy One, Get One Free” offers can initially appear as if one item is being supplied free of cost without any consideration. However, it is not an individual supply of free goods but a case of multiple individual supplies where a single price is being charged for the entire supply. Essentially, it …
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A CA firm, or a Chartered Accountancy firm, is a professional service firm that provides a range of financial and accounting services to businesses, organizations, and individuals. The services provided by CA firms include tax planning and compliance, auditing and assurance, financial accounting and reporting, management accounting, business advisory, and more. A CA firm typically …
In India, GST registration is an essential step for those starting a business. It can either be a voluntary decision or a mandatory provision under the GST law. Some people are obligated to register their business under the GST law, while others are exempt from registration. In this article, we will discuss the provisions for …
Are you drowning in the complexities of Goods and Services Tax (GST) litigation? Is navigating through the ever-changing legal landscape of GST disputes proving to be a daunting task for your business? Fret not! Our esteemed CA firm in Gurgaon and Faridabad is here to help you unlock the burden of GST litigation with our …
Are you the owner of a proprietorship firm and looking to expand your business? Converting your proprietorship firm to a private limited company can be a great option for you! Not only does it provide you with more opportunities for growth, but it also offers several other benefits. And if you’re based in Gurgaon or …
If you are a business owner in India, you might have heard of the Goods and Services Tax (GST) – a unified tax system that replaced multiple indirect taxes in the country. Under the GST regime, businesses are required to obtain GST registration to legally carry out their operations. If you are a business owner …
Under this Act, any GST registration granted can be cancelled by the proper officer under certain circumstances, as outlined in this section. The cancellation may occur either on the officer’s own accord or upon application by the registered person. Some of the reasons for cancellation include discontinuation or full transfer of the business, amalgamation with …
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Electronic invoicing, or e-invoicing, is a method of generating and exchanging invoices between businesses electronically, rather than using paper-based systems. E-invoicing has become mandatory for taxpayers whose aggregate turnover, based on PAN, is over Rs. 10 crore per financial year. It is applicable for all B2B taxable supply of goods or services or both and …
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Introduction: A one-person company (OPC) is a type of business entity where a single individual can operate a company as a separate legal entity. It is a hybrid between a sole proprietorship and a private limited company that provides the benefits of limited liability while allowing the entrepreneur to retain complete control of the business. …
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