The GST law aims at providing seamless Input tax credit to the registered persons. While the missed ITC could be a loss to an entity, an undue or excess claim of ITC could put an entity to a trap of interest, penalty & litigation. It goes without saying that there could be several errors of […]
Government has provided an opportunity to MSMEs to apply for loan upto Rs 1 crore, which will be processed quickly and without collateral security
Certain notified entities and transaction come under the purview of TDS under GST, therefore they are required to deduct TDS at the time of making payment. This is applicable w.e.f.01st October 2018
The TCS & TDS provisions which were deferred has become applicable w.e.f from 01st October 2018. Hence the notified persons would be required to deduct TDS & collect TCS on transaction under GST.
This summarizes the removal of disqualification of director in case where companies has been struck off. It can be done with or without the revival of the company
There has been a lot of confusion in treatment of discounts in invoice and questions with respect to which amount should be chargeable to GST. Though the law is pretty clear about it. GST treats all the discounts such as trade discounts, cash discounts, volume/turnover discounts, etc. Instead, the treatment varies with the timing of discount being given, so we classify the treatment of discounts under the following two categories:
A lot of aspiring entrepreneurs end up starting their business as a Private Limited Company without knowing the whereabouts. Before choosing PLC as a form of business, one must know its features, benefits, limitations & compliances, which are briefly described below
