The most sought after method of starting a business. Business looking for raising capital & Debt from abroad should register a Private Limited Company.
Input Tax are the taxes paid on purchases made in the course of the business. When a registered dealer offsets his tax liability on sales against taxes paid on purchases is known as availing Input tax Credit.
The best way to start, operate and maintain a small to medium enterprises.
Generally, the supplier of Goods & services is responsible for collection and remittance of tax to the government. But there are certain transactions on which the GST has to be remitted by the purchaser of goods and services, this is well-known as GST on RCM.
A Partnership Firm is nothing but an organization of two or more people having a mutual understanding to run business and earn profit.
The Composition Scheme is a simple tax scheme designed for small businesses and service providers with a turnover of up to Rs. 1.5 crore per annum. This scheme simplifies the tax compliance process and reduces the tax burden for small businesses.
Proprietorship is ideal for small traders and service providers. The only documentation required for a proprietorship firm is PAN. But other compliances are applicable depending on the nature of business like GST, Professional tax etc.
Single entrepreneurs are in the need of a speedy mechanism to get incorporated into the company form of a business. Ideal for a person with scalable business idea.
SNon-resident taxable person in GST is a person who occasionally undertakes transactions involving supply of goods /services, whether as principal/agent/in any other capacity and has no fixed place of business/residence in India.
A situation is possible wherein the buyer of flat/building after entering into an agreement to purchase cancelled the same. The payments made to builder at each instalment contains an amount of GST and hence there arises a situation for refund of the same.
GST registration is required by persons who are engaged in the business and offer products or services to its customer. This is registration required under the Central Goods & Services Act 2017 and Integrated Goods & Services tax Act 2017.
Freelancer is an individual who provides services on a contractual basis. Freelancer is not under any full time employment contract. The GST law as applicable to service providers is applicable to freelancers as well
The Shop and Establishment Act is regulated by the Labor Department. The Act regulates all the shops and commercial establishments operating within the state. Shops are generally defined under the Act as the premises where the selling of goods take place either by retail or wholesale or where services are rendered to customers. It includes offices, godowns, storerooms and warehouses used in connection with the trade or business.
Job-work is any treatment or process undertaken by a person on goods belonging to another registered person
A Casual taxable person in GST is one 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. Generally has one/no fixed place of business in India.
Banks have certain parameters to lend money to its customers. These are in the form of ratios and banks would require its customers to maintain ideal ratios. This eliminates the risk of default in repayment of loans and hence becomes very vital in lending process. It is also in the interest of borrowers to have a sound financial ratios in order to obtain credit from banks with ease.
