GST on sale of fixed assets
Fixed assets are assets or items purchased for long-term use. Immovable properties such as buildings and land, as well as equipment such as machinery, computers, and so on, may be…
Benefits of GST Registration
GST will significantly boost the government's 'Make in India' initiative by making goods and services produced or provided in India competitive in national and international markets. Furthermore, all imported goods…
Income tax implications for NRI selling property in India
NRIs while selling their house properties in India must pay tax on the Capital Gains. The tax payable on the gains depends on whether it is a short-term or a…
Tax benefits on purchase of Electric Vehicle in India
Introduction: Over the past decades, the growing concern over climate change, energy independence, and securities of energy supply have accelerated the path to the decarbonization of the transport sector. this…
How to correct mistakes in GSTR 3B
Introduction Due to unawareness, many taxpayers commit mistakes in GSTR 3B and GSTR 1 while filing the GST Return. In this article, we will discuss “how to correct mistakes in…
How to correct mistakes in GSTR 1
Filing of GST returns is compulsory for every taxpayer. Despite the passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST…
Business compliance requirements for e-commerce business in India
Introduction India has the second-largest internet user base in the world. India’s e-commerce market after “India Goes Digital" has the fastest-growing country in the world. The rapid popularity and acceptance…
How to claim foreign tax credit in India
Foreign Tax Credit (‘FTC’) According to a Ministry of External Affairs report, there are 32 million NRIs and OCIs residing outside India. Many Indian residents migrated abroad to countries like…
Taxability of agricultural income in India
Agriculture is the primary source of livelihood and source of income for about 58% of India’s population. As we all know that income which is received from agricultural activities know…
List of Items on which GST ITC is not available
In this article, we have listed as such items, which are not eligible for the input tax credit under GST. But first, we need to understand the term ‘ITC’. ITC…
Tax on Freelancers income in India
In this article, we have discussed about tax on freelancers income in India . India is the second-largest freelancing Market. freelancing has taken off quite a bit in the past…
Situations of GST refund and process
GST refund is a procedure in which a taxpayer wants to get the amount, which is in excess of the GST liability, refunded to his/her account.
Apply for GST cancellation
GST is most trending tax topic.Many business users might have taken voluntary registration though not liable for GST.After taking registration people are worried apply for GST cancellation and to surrender…