As you already know, House Rent Allowance (HRA) is a benefit that salaried employees receive as part of their salary. Furthermore, you must also know that it can be used to reduce your Income Tax Liability while ITR Filing. Know all the crucial details to claim house rent allowance exemption in ITR Filing through this … Read more
Computer repair shops, which offer a wide range of electronic equipment, are required to pay taxes based on their turnover and business type. To streamline tax payments and ensure simplicity, computer shop owners must get GST Registration. GST replaces various indirect taxes on goods and services provided by both state and central authorities. When you … Read more
The Goods and Services Tax Network (GSTN) has developed a highly efficient application known as the GST E-Invoice QR Code Verifier. This app addresses the importance of streamlined and precise e-invoice verification. By utilizing this application, users can easily authenticate e-invoices using the prominently displayed QR code. The main goal of developing this app is … Read more
Renting out properties is a booming business these days. Whether you’re renting out your home to tenants or leasing out as office space to businesses, you need to be aware of the latest GST rules. GST, or Goods and Services Tax, is a tax that is applied to most goods and services sold in India. … Read more
GST is exempt on several healthcare services. However, it is still mandatory for companies, doctors and other medical professionals to get GST Registration for Healthcare Service in various circumstances. This article will guide all that you need to know about GST Registration for Healthcare Service. When do you need GST Registration for Healthcare Service? You … Read more
The Goods and Services Tax (GST) is an indirect tax system that has streamlined the taxation process in many countries, including India. If you own or plan to start a toy business in India, understanding the requirements and procedures for GST registration is essential. This article provides a comprehensive guide to GST registration specifically for … Read more
Notification No. 01/2021-Compensation Cess (Rate) issued by CBIC on September 30th, 2021 mandates a 12% Compensation Cess on Carbonated Beverages containing Fruit Drink or Fruit Juice under the GST regime. So, if you wish to start a Carbonated Cold Drink business or any other beverages business, you must get GST Registration and know about the … Read more
The 50th GST Council meeting was held on 11th July 2023 in New Delhi. The meeting was chaired by Finance Minister Nirmala Sitharaman and was attended by ministers from all states and union territories. The meeting discussed a wide range of topics, including the taxation of online gaming, casinos, and horse racing; the classification of … Read more
GST registration is mandatory for businesses meeting certain criteria and it offers benefits such as input tax credit and increased credibility. In the baby product industry, GST registration is crucial for ensuring compliance and facilitating business growth. If your business falls under mandatory GST Registration requirement criteria, you can get GST Registration Online. However, you … Read more
The Central Board of Direct Taxes (CBDT) has just given more time for people to submit certain statements related to TDS/TCS (Tax Deducted at Source/Tax Collected at Source). They made this decision in Circular 9/2023 dated June 28, 2023, to help taxpayers and make it easier to follow the rules. TDS/TCS Statement Filing Deadline Extended … Read more