Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis n ..read more

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis n ..read more

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum ..read more

Who is Casual Taxable person under GST : As per Section 2(20) of CGST Act 2017, Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business,whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business. Compliances Applicables for Casual Taxable Person in GST : Registration : A Casual taxable person making taxable supplies in India has to to take compulsory registration and the benefit of threshold would not be applicable for ..read more

Companies Fresh Start Scheme: The Companies Act, 2013 requires all Companies to make Annual Statutory compliance by filing the Annual Return and Financial Statements. Apart from this, various other statements, documents, returns etc. are required to be filed on the MCA21 electronic registry within prescribed time limit along with the prescribed filing fees. However, most of the Companies have failed to file forms periodically with the MCA due to various reasons. As a number of representations were received from stakeholders requesting for grant of one-time opportunity, so as to enable them to ..read more

What is E-Way Bill : An E-way bill is a document containing the details relating to the consignment of goods such as quantity, rate, description, name of consignor, consignee, date and mode of transport, details of the vehicle, origin and destination of the consignment. It acts as mechanism to check the tax evasion. It can act as tool to track the movement of goods. E-Way bill mechanism under GST – E-way bill mechanism is prescribed under Rule 138 of the CGST Rules, 2017. E-waybill has to be generated by an electronic portal before the commencement of movement of the goods and a unique number ..read more

LLP Settlement Scheme : The concept of LLP has been introduced in India an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP structure is available in countries like the United Kingdom, the United States of America, various Gulf countries, Australia and Singapore. On the advice of experts who have studied LLP legislations in various countries, the LLP Act is broadly based on UK LLP Act 2000 and Singapore LLP Act 2005. Both these Acts allow the creation of LLPs in a body corporate form i.e. as a separate l ..read more

The most known bank accounts for non-resident Indians are Non-Resident External Account (NRE), Non-Resident Ordinary Account (NRO) and Foreign Currency Non-Resident Account (FCNR). NRIs can transfer or withdraw funds through these accounts. Check out our article Types of Bank Accounts in India for a detailed understanding of these accounts. In this article, we would provide you with details of further bank accounts maintained by a non-resident Indian. Apart from the accounts mentioned above, a non-resident Indian can maintain the following types of bank accounts based on their requirements ..read more

Composition Scheme under GST is a reduced compliance mechanism scheme available for small and medium entities at their option. The taxpayers registering under this scheme will have to pay a fixed percentage of tax on their turnover and will have to file fewer GST returns, as compared to regular taxpayers. Advantages of GST Composition Scheme: The taxpayers don’t need to maintain elaborate accounts and records. The tracking of sales would be sufficient for GST. The taxpayers get the benefit of paying taxes quarterly instead of every month. The taxpayers can file a simple quarterly return inste ..read more

PAN Card is mandatory for every person who is required to file a return of income or intends to enter into an economic or financial transaction where quoting of Transactions in which quoting of PAN is mandatory are as follows:  PAN Card is required by an NRI if that NRI has got a taxable income in India.  PAN Card is necessary when an NRI wants to open an NRO or NRE account.  If an NRI doesn’t want to trade but wants to purchase some land or other property in India, then also it is mandatory to have a PAN card issued by the Government of India.  Sale or purchase of a vehic ..read more