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It is well known to the world that the Indian IT talent is world recognised and efficient in work.Companies like google and Microsoft were wise enough to recognise this !! What could be more better than to have your own IT company (a small one) in India totally controlled and managed by you through the … Continue reading “Set up your small IT company in India”
UNLIMITED COMPANIES By virtue of Section 2(92) of the Act, an unlimited company is a company not having any limit on the liability of its members. Thus, the maximum liability of the members of such a company, in the event of its being wound up, could extend to their entire personal property to meet the … Continue reading “UNLIMITED COMPANIES”
Section 8 of Companies Act, 2013 empowers Central Government to register a special type of company as limited company having charitable objects to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment, etc., without adding to its name the words ‘Limited’,‘Private Limited’. Such company intends to apply its profits or … Continue reading “Definition of non Profit org Company” Under Section 8 of Company Act 2013″
India will have nearly 700 million smartphone users by the end of 2020. Further, this figure will grow exponentially as more brands and cheaper variants enter the market. Consequently, the demand for outlets and persons who offer repairs of mobile phones is expected to increase manifold. You can also sell accessories and credit recharge. Mobile … Continue reading “Mobile Phone Repair and Mobile Phone Accessories Business Registration in India”
From Swiggy to Foodpanda, online food delivery service firms face GST heat Food delivery services are taxed at 18% which the restaurants have to pay
As per Rule 89(2), The application under sub-rule (1) of rule 89 of CGST Rules, 2017, shall be accompanied by any of the following documentary evidences in Annexure 1 in Form GST RFD-01, as applicable, to establish that a refund is due to the applicant, namely:- a) the reference number of the order and a copy of the order passed by … Continue reading “Documents required while applying for Refund Form (RFD-01A):”
Simplifying GST Registration Procedure Indirect taxation has seen its biggest reform with the introduction of Goods and Service Tax Act. India is heading towards digitization and introduction of Goods and Service Tax is the biggest example of the same. Various procedure like registration, return filing, preparation of payment challan, refund etc. has been made online under … Continue reading “Gst registration procedure:”
A. Meaning of ‘Legal Services’: Definition: ‘Legal Services’ means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority– Notification no. 12- Central Tax(CT) (Rate) dated 28.06.2017. Analysis: 1. Legal Services can be any service which an advocate1 (including a senior advocate2)/firm of advocates provide … Continue reading “GST On Legal Services:”
Inward supply of second-hand goods When a registered second-hand goods dealer buys used goods, the supply can be either from a registered person or unregistered person. Let us look at the tax implication in both these cases: Inward supply from registered person When a registered second-hand goods dealer purchases used goods from a registered person, … Continue reading “Inward supply of second-hand goods :”
Outward supply of second-hand goods When a registered second-hand goods dealer supplies second-hand goods, the dealer is liable to charge GST on the second-hand goods. For this, 2 options have been given to the dealers: Charge GST on the full transaction value. Here, the dealer is eligible to claim input tax credit of the tax paid on … Continue reading “GST On Second Hand Goods:”