When GST was launched, it was mandatory to have GST Registration to start an online or e-commerce business. However, in the 48th GST Council Meeting the government notified a significant exemption allowing businesses below threshold to run their business online without having to obtain GSTIN. Lets learn about the process to do online business without … Read more
The Jagriti Yatra spans a 15-day journey via train, covering a distance of 8000 kilometres across India, aimed at fostering understanding and fostering the development of small towns and villages through entrepreneurial initiatives. Organised by the non-profit charitable organisation Jagriti Sewa Sansthan, headquartered in Mumbai, this initiative is rooted in Deoria, Uttar Pradesh, with a … Read more
Businesses in the UAE must note that the government has implemented new deadlines for companies to register for corporate tax. Failing to register by the designated date could result in a Dh10,000 fine (approximately $2,722). Failure to comply within the stipulated time frame can result in legal repercussions. Let us learn all the essential details … Read more
An e-invoice, also known as an electronic invoice, is a digital document that businesses exchange with each other and authenticate through the government tax portal. Let us learn the process and other crucial details regarding GST eInvoicing by Business. Why E-Invoicing Matters? E-invoicing streamlines the invoicing process, making it more efficient and less prone to … Read more
The introduction of e-Invoicing in India aimed to combat tax evasion by enabling real-time data access for tax authorities and verifying invoices through the Invoice Registration Portal prior to transactions. This system minimises the possibility of counterfeit invoices, ensuring that only legitimate Input Tax Credits can be requested by taxpayers. Thus, you must enable GST … Read more
For decades, the UAE has been celebrated as a tax haven, attracting businesses and investors worldwide with its minimal tax obligations. However, in a significant shift to align with global standards for tax transparency and to address the OECD’s Base Erosion and Profit Shifting (BEPS) standards, the UAE introduced corporate tax following the implementation of … Read more
Last week, the Central Board of Indirect Taxes and Customs warned everyone about fake GST summonses trying to trick people across the country. They said we should be careful and double-check if any messages we get from GST officials are real. It’s a reminder to stay alert and not fall for scams when dealing with … Read more
A new rule has been put in place to help small and medium-sized businesses in India get paid on time. From April 1, 2024, the government will allow buyers to claim income tax deductions for expenses only when they pay their suppliers, specifically the MSEs. This rule is a big deal for businesses in India, … Read more
Recently, the Food Safety and Standards Authority of India (FSSAI) made a significant decision. This decision impacts food businesses across the country. As per the sources, FSSAI announced that food products holding an FSSAI licence will no longer require additional certification from the Bureau of Indian Standards (BIS) or AGMARK. Let’s delve deeper into what … Read more
Stay informed about latest changes in ITR Filing for FY 23-24 through this article and avoid potential penalties or errors in their filings, thereby minimising the risk of audits or legal issues. Streamlining Tax Processes for Businesses The income tax department has introduced changes to simplify tax procedures for businesses, particularly in the area of … Read more