Goods and Services Tax (GST) registration is a legal requirement for businesses in India to collect tax on behalf of the government. It is mandatory for certain categories of suppliers, and it enables businesses to avail of input tax credit, which can help reduce their overall tax liability. Who Needs to Register for GST? Businesses… Continue reading GST Registration
GST Returns are mandatory tax filings that businesses registered under the Goods and Services Tax (GST) system in India must submit. These returns provide a summary of a business’s sales, purchases, input tax credit (ITC), and tax payments to the government. Filing GST returns on time is essential to maintain compliance, claim eligible ITC, and… Continue reading GST Returns
GST Refunds allow businesses to claim back the excess GST paid on purchases, exports, or other transactions under certain conditions. This process helps to maintain liquidity by returning tax overpayments or credits. Common scenarios for GST refunds include exports of goods or services, input tax credit (ITC) accumulated on account of inverted duty structure, excess… Continue reading GST Refunds
GST Compliance Services are essential to help businesses meet all statutory requirements under the Goods and Services Tax (GST) framework. These services ensure that businesses are consistently aligned with GST laws and avoid penalties or legal issues. By utilizing professional GST compliance services, businesses can manage tax filings, adhere to regulatory timelines, and maintain accurate… Continue reading GST Compliance Services
A GST Audit is a thorough examination and verification of a business’s financial records, transactions, and other relevant documentation to ensure compliance with Goods and Services Tax (GST) regulations. The audit confirms the accuracy of reported tax liabilities and tax credits claimed, as well as adherence to GST laws. GST audits help maintain transparency, accuracy,… Continue reading GST Audit
GST Consultancy Services provide expert assistance and advice to businesses and individuals on various aspects of Goods and Services Tax (GST) compliance, planning, and management. These services help businesses navigate complex GST regulations, maintain compliance, and optimize tax-related decisions. Here is a detailed overview of the key components and benefits of GST consultancy services. Key… Continue reading GST Consultancy Services
Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on every value addition within the supply chain of goods and services in India. Introduced in July 2017, GST aims to simplify the indirect tax structure by consolidating various state and central taxes, promoting ease of doing business and enhancing tax… Continue reading Goods and Service Tax – Overview
Striking off a company or closing an LLP (Limited Liability Partnership) in India involves a formal process to remove the entity from official records when it ceases operations. Here’s a detailed guide to each process: Company Strike Off Process Striking off a company is a formal process to dissolve the company from the Ministry of… Continue reading Company Strike Off and LLP Closure
Setting up a foreign company in India can be a strategic move for businesses looking to tap into one of the world’s largest markets. The process involves selecting the right business structure, complying with regulatory requirements, and adhering to foreign investment rules. Here’s a comprehensive overview of setting up a foreign company in India: 1.… Continue reading Foreign Company Setup in India
FC-GPR (Foreign Currency – Gross Provisional Return) and RBI Compliance for Foreign Investments The FC-GPR form is a key regulatory requirement for companies in India that have received foreign direct investment (FDI). Filing this form with the Reserve Bank of India (RBI) helps maintain transparency in foreign investments and ensures compliance with India’s foreign exchange… Continue reading FC-GPR and RBI Compliance