What are the provisions related to GTA Services under GST?

Goods Transport Agency has not been defined in GST Act. However, notifications related to provisions regarding GTA services have been issued by Central Tax 2017 on various dates. An attempt has been made to compile these notifications in one place & simplify the provisions &n[...]

Published Date: 28-Dec-2017 05:54 PM

What is Composition Scheme under GST?

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate on turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore.Who can opt for Composition S[...]

Published Date: 28-Dec-2017 05:15 PM

Time of Supply in case of Supply of Goods—GST

Relevance of Time of supply: Liable to pay tax shall arise on time of supply.Time of supply in case of goods shall be the earlier of the following dates: i) Date of issue of invoice or the last date on which invoice is required to be issued as per sec 31(1) with respect to [...]

Published Date: 28-Dec-2017 10:42 AM

Determination of Nature of Supply in GST

Relevance of Nature of Supply: To determine whether to charge CGST, SGST, or IGST based on the nature of supply.Type of supply:  1) Intrastate Supply: CGST and SGST to be charged on same tax base. 2) Interstate supply: IGST to be charged.Intrastate supply:  Supply to b[...]

Published Date: 28-Dec-2017 10:28 AM

What are the Key Advantages of Doing Business in India for Foreign Companies?

Many foreign companies wish to do business in India. Ever wondered why? Here are some of the advantages:Potential for growth: The growth potential in Indian Market is immense as it is one of the fastest growing economies in the world.Vast Trade Network: India has a vast trade n[...]

Published Date: 22-Dec-2017 10:15 AM

What Documents does a Foreign Company Require to Start a Subsidiary in India?

So, your company falls under the category of “Foreign Company” according to the Indian Companies Act 2013 and you want to start a subsidiary company. However, you know nothing about the documents which are required for the procedure. So, without further ado, here are the do[...]

Published Date: 22-Dec-2017 10:12 AM

Refund under GST as per Section 54

What can be claimed as Refund:ANY balance amount in electronic ledger so claimed in returns,ANY unutilized input tax credit (weather supply has been made as Zero-rated or Taxable supply but can’t be  claimed if supply is NIL Rated or EXEMPTED)Tax paid by any specified agen[...]

Published Date: 05-Dec-2017 11:41 AM

What are the Pros and Cons of GST?

GST (Goods and Services Tax) was introduced on 1st July 2017 as an indirect tax to replace all other forms of taxes that were previously applicable. As promising as this new taxation system may seem to be, it also has its shortcomings. Let us have a look at the pros and cons of [...]

Published Date: 28-Nov-2017 02:11 PM

What Income Tax Laws NRIs should be aware of?

So, you are an NRI (Non-Resident Indian) living abroad, working in an MNC or running your own business. You probably don’t even know the income tax laws of India. After all, you won’t be needing them, right? If you think like that then you need to change your point of view. H[...]

Published Date: 27-Nov-2017 06:05 PM

Chartered Accountants in Bangalore

It's not business as usual anymore... The city of Bangalore grew rapidly over the last 20 years and earned the name as India's Silicon Valley. With the IT industry making a firm footing, Bangalore now has a very robust business environment. The city is home to large corporations,[...]

Published Date: 12-Oct-2017 02:45 PM

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