ELIGIBILITY FOR GST COMPOSITION SCHEME: The registration under composition scheme is optional and voluntary. Businesses having a turnover LESS THAN Rs. 1.0 Crore* can opt for this scheme but on any given day, if the turnover crosses the above-mentioned limit, then he becomes ineligible for the same and has to take…
CA is a designation given to accounting professionals. It simply proves that the degree holder qualifies to offer Accounting & Finance related advisory services to clients. He qualifies to file business’s tax return, audit financial statements & business practices.
Filing your returns is one tedious task that requires a lot of preparation, focus & accuracy to get it done rightly. The best choice for all your accounting & Tax Return Preparation needs is to hire a professional & experienced specialist in the field of accounting & taxation.
GST E-Way bill is an electronic bill that is required for the movement of goods where the value of the goods is above Rs. 50,000. The bill can be generated from the GSTN portal and every registered taxpayer must have this e-way bill along with the goods transferred. There are…
Interest must be paid in case of delay in payment of tax under the GST regime. Certain provisions have been drafted for interests to be paid when there is a delay by the taxpayer or by the department. The two cases where a taxpayer is liable to pay interest are: Delayed…
Buying & selling of second-hand goods & used goods will not attract GST if it is sold at a price cheaper than the purchase price. Where a taxable supply is provided by an individual dealing in buying & selling of second hand goods or used products as such or once…
MEANING: Exempt supply under GST includes Nil rated (taxable at 0%) & Non-taxable supplies. Persons dealing exclusively in Nil rated or 100% Exempt goods/services are not liable to register under GST irrespective of their Turnover limit. AGRICULTURE: Agro-Inputs like fertilizers, seeds, irrigation (electricity is req.), Machinery & all other agricultural…