Understand the GST implications on goods sent for exhibition. Learn about the criteria for considering an activity as a supply, exceptions under Schedule 1, and the importance of consideration. Goods sent for exhibition, not covered by Schedule 1, are not initially considered a supply due to the lack of consideration. Explore scenarios where goods sent for exhibition may be treated as supply, issuance of tax invoices, and registration requirements.
Participate in the Reserve Bank’s Biennial Foreign Collaborations and Services (FCS) Survey to gain insights into potential competition areas. Understand reporting entity obligations, submission process, and deadlines. Follow precise instructions for accurate data submission via email, ensuring confidentiality. The survey covers various performance indicators, technology transfer agreements, and economic activity classifications.
Understand the intricacies of the Five Heads of Income Tax in India as per the Income Tax Act, 1961. From Income from Salaries and Income from House Property to Profits and Gains of Business or Profession, Income from Capital Gains, and Income from Other Sources, each head has distinct rules and tax treatment.
Stay informed with the latest regulatory updates for May 2023 in India. From changes in the Companies Act, 2013, to amendments in voluntary strike-off rules, compromises, arrangements, and amalgamations, these updates impact corporate governance, financial reporting, and more. Explore modifications in securities laws and learn about the Supreme Court’s directions for effective Prevention of Sexual Harassment (POSH) Act implementations.
Navigate the GST registration process for One Person Companies (OPCs) with ease. Learn the step-by-step guide for online registration, including the workaround for selecting OPC. Understand the necessary documents required, from PAN cards to address proofs. Follow the detailed process, from generating a Temporary Reference Number (TRN) to receiving the Registration Certificate (RC). Empower yourself with a comprehensive guide to streamline GST registration for your One Person Company.
Unlock the intricacies of Reverse Charge Mechanism (RCM) under GST in this comprehensive article. Delve into the legal aspects, key sections, and benefits of RCM, along with the consequences of non-payment. Understand registration criteria and considerations for RCM transactions, ensuring compliance with GST regulations. Explore a detailed list of goods and services subject to RCM, and grasp the benefits, consequences, and important considerations for businesses involved. Stay informed to navigate the complexities of RCM successfully.
Explore the E-Invoice era in India under the GST regime. Learn about the applicability, threshold limits, and footprints of the E-invoicing system. Discover the process of generating E-invoices, exemptions, QR code requirements, and consequences of non-compliance. Gain insights into the types of documents covered and the mandatory data embedded in the QR code. Stay informed about the cancellation process, penalties for non-compliance, and the significance of E-invoices for businesses with turnovers exceeding specified limits.
Dive into the intricacies of CGST Section 16: Eligibility, Conditions & Restrictions for Input Tax Credit (ITC) on goods and services. Learn about the criteria, time limits, and consequences of non-compliance. Explore the importance of valid invoices, restrictions on personal consumption, and the reversal of ITC. Stay informed to navigate the complexities and avoid penalties while optimizing your tax benefits.
Explore the process of establishing a Liaison Office (LO) in India for foreign entities. Learn about the eligibility criteria, permitted activities, and the approval process, including cases requiring prior approval from the Reserve Bank of India (RBI). Understand the detailed procedure, documentation requirements, and the role of Authorized Dealer (AD) banks in obtaining approval. Ensure compliance with regulations while fostering collaboration between foreign companies and Indian entities.
Financial Intelligence Unit-India (FIU-IND) is a statutory body established by the Government of India in 2004. It serves as the central national agency responsible for receiving, processing, analyzing, and disseminating information related to suspect financial transactions. The FIU-IND plays a crucial role in coordinating and strengthening efforts against money laundering and financing of terrorism, both nationally and internationally.
