As you already know, the GST replaced the complex indirect tax system in India with a simpler one. But in multiple scenarios, you might also need to apply for GST cancellation. Here, the responsibilities of directors and shareholders are crucial for a smooth cancellation process. Let’s learn in detail the roles of Directors & Shareholders … Read more
Foreign Exchange conversion services enable individuals to convert one currency into either another foreign currency or a domestic currency. Let’s learn about GST on Foreign Exchange Conversion Services in India through this article. How to Calculate GST on Foreign Exchange Conversion in India When conducting foreign currency exchanges (whether buying or selling) in India, the … Read more
Indian E-commerce is revolutionizing business in India, projected to hit US$ 200 billion by 2026 with a 57% CAGR. By 2030, it could become an $800 billion market, propelled by widespread online service adoption in areas like e-commerce and EdTech. One of the major e-commerce platforms is Flipkart in India. Having your business on Flipkart … Read more
Becoming part of the Rapido Bike team is a great chance to be your own boss and have the freedom of choosing when you work. If you want to join Rapido as a captain and are wondering about the money you can make, this article will show you how to join, and what you might … Read more
The Authority of Advance Ruling (AAR) has declared that hostel accommodation will now attract a 12% GST. The AAR’s ruling is based on hostels not being classified as residential dwelling units, resulting in them no longer qualifying for GST exemption. As a result, students and other hostel residents will now be required to pay an … Read more
The CBIC has recently launched circular No. 201/13/2023-GST. This circular clarifies the important questions that businesses like you had regarding: Whether services supplied by the director of a company in his personal capacity such as renting of immovable property to the company or body corporate are subject to Reverse Charge mechanism. The GST Council discussed … Read more
The CBIC has released circular 197/09/2023-GST, which clarifies concerns relating to GST refunds. These changes are intended to bring much-needed clarity to taxpayers and make it easier for them to receive refunds. For ease of understanding and reference, a summary of clarifications is provided below. CBIC Provides Clarity on GST Refunds Question 1 Is the … 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