For each registered GSTIN, a taxpayer registered under the Goods and Services Tax (GST) statute is required to file a GST return. Additionally, if the taxpayer files returns on a regular basis, the GSTIN status needs to be active. GST Rules specify 22 different kinds of GST returns. Eight of…
In India, limited liability partnerships, or LLPs, are becoming increasingly common corporate structures. Partners benefit from limited accountability and the flexibility of a partnership, while companies enjoy the benefits of corporate structure. Understanding the legal requirements is essential for entrepreneurs looking to start an LLP. It is vital to ensure…
Post the implementation of Goods and Services Tax, it has become important for businesses to comply with GST registration. However, for many firms, navigating the complexity of the Goods and Services Tax (GST) can be time-consuming and labor-intensive. From GST registration and de-registration to GST return filing and compliance audits, the processes…
Goods and Services Tax (GST) return filing is a crucial aspect of compliance for businesses in India. It's important to be accurate and timely with GST returns to avoid fines and keep things running smoothly. However, many businesses, especially those new to GST, often make errors in their filings. This guide highlights…
Chartered Accounting firms in Mumbai play a vital role in India’s booming economy as they provide accounting services to businesses, individuals, and the government. However, in today’s dynamic financial landscape, the demands on them are increasing. Besides accounting services, they also provide advisory, tax planning, bookkeeping, capital planning, and consultancy services. Traditional…
Having a startup, planning to set up your business from scratch, or wanting to create a new company for your existing venture all require a lot of brainstorming and groundwork. It involves a lot of legalities and financial acumen besides the core business plan. From compliance with the law to…
If you own a business dealing with goods and services, you are most likely aware of GST return filing. The indirect tax levied on your products when they are sold but did you know that there is a way you can reduce this amount? Input Tax Credit enables you to recoup some…
In India, the Goods and Services Tax (GST) is an indirect tax on various goods and services supply. After successfully registering on the GST portal, taxpayers who have been officially registered must submit periodic documents known as GST returns online. This statement of detailed information mentions a particular company's business…
Renowned in India and abroad, a private limited company is one of the most widely used company registration forms. It is essential for several reasons like offering separate entity from its members, perpetual existence, fund raising, ownership control, limited liability, tax benefits and much more. One must thoroughly understand the…