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All about GST In Case of Death of Proprietor

June 7, 2021 72489 Views 8 comments Print

Article explains Provision of GST after death of Proprietor, Who is liable for Applying GST Registration Cancellation, How to Add Legal Heir,  Status of Balance Lying in the Electronic Credit Ledger and Process of Transfer of ITC. Provision after Death of Proprietor 1. Add Legal Heir 2. Apply for Cancellation 3. File Final Return GSTR […]

All About Cryptocurrency like Bitcoins

May 14, 2021 3333 Views 4 comments Print

Article explains What is Cryptocurrency like Bitcoin, Legality of  Cryptocurrency, Income From Cryptocurrency, Taxability of Income From Cryptocurrency, Whether Income Covers Under Profit and Gains of Business & profession or Capital Gain or Other Source, MCA Regulations applicable to Cryptocurrency like Bitcoins and Statements From Finance Ministry on Bitcoins. What Is Cryptocurrency? A crypto currency […]

All about Goods Transport Agency (GTA)

April 21, 2021 10659 Views 5 comments Print

♦ Goods Transport Agency(GTA) As per Notification No. 11/2017-Central Tax (Rate) dated 28th June, 2017,GTA means (i) any person who provides service in relation to transport of goods by road and (ii) issues consignment note, by whatever name called. Sec.23(1) CGST Act (i) Any Person engaged exclusively in non-taxable supply or (ii) Exempted supply No […]

Compliance Related to Private Limited Company

April 13, 2021 3336 Views 1 comment Print

Compliance for Private Limited Company ♥ 1st Year of Incorporation > First 30 Days Board Meeting 1st Board Meeting (BM): – Within 30 days of Incorporation Auditor’s Appointment Appoint 1st Auditor: Should be appointed within 30 Day of Incorporation in BM Form MBP 1 (Disclosure of Interest by Director) : 1st BM of Every Financial […]

TDS on Rent under section 194I, 194IB & 194IC

August 16, 2020 41595 Views 0 comment Print

All about TDS on Rent Meaning of Rent ‘Rent’ means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— 1. land; or 2. building (including factory building); or 3. land appurtenant to a building (including factory building); or […]

Zero Rated Supply and Exempt Supply under GST

July 13, 2020 10413 Views 1 comment Print

Zero Rated Supply Meaning: It means a supply made by way of export of goods or services or supply of goods or services to an SEZ unit or SEZ developers. Payment of tax: The entire supply chain will be tax free. Availment and utilisation of credit: A person making zero rated supply shall be allowed […]

Export from Indian Scheme

July 9, 2020 3885 Views 0 comment Print

Export from Indian Scheme There shall be following two schemes for Export respectively: 1. For Export of Merchandise – Merchandise Exports from India Scheme (MEIS). 2. For Export of Services – Service Exports from India Scheme (SEIS). Nature of Reward Duty Credit Scrips shall be granted as reward Scrips can be freely transferable Scrips can […]

Presumptive Taxation | Section 44AD | Income Tax Act, 1961

June 27, 2020 18702 Views 3 comments Print

Hello, in this post we will talk about the Presumptive Taxation under Section 44AD of the Income Tax Act, 1961. Businesses adopting the presumptive taxation scheme are not required to maintain regular books of account. They can declare the income at a prescribed rate. The Income-tax Act has framed the presumptive taxation scheme under sections 44AD, […]

Casual Taxable Person under Goods and Service Tax Law

June 21, 2020 12498 Views 0 comment Print

Article explains  about the Casual taxable Person (CTP) under Central Goods and Services Tax Act, 2017. It explains about Meaning of Casual Taxable Person, Documents required for Casual taxable Person GST Registration,  How to Apply for Registration as Casual taxable Person, Extension of Period of Registration, Returns to be Furnished by casual taxable person and […]

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