It is generally assumed that individual lawyers and law firms are exempt from GST on legal services. However, whether GST applies to lawyers, legal firms, and their services is not answered yet. Let us discuss the GST on Advocates and Legal Services. Table of Contents GST on Legal Services Is GST applicable on legal fees…
The Goods and Services Tax Act, 2017 mandate every registered person to maintain true and correct books and records. Failure to maintain them may result in the non-payer being punished with penalties and even confiscation of the goods. Let us discuss the books of accounts and records under GST. Table of Contents Books of Accounts…
Properties that are inherited up to four generations down the male line—father, grandfather, etc.—are called ancestral properties. However, the Income Tax Act does not treat all inherited property as ancestral property. The various provisions that are mentioned in the Income Tax Act regarding the Capital Gain Tax on Sale of ancestral Property are described in…
Gold loans have seen a quantum shift in India. This significant increase in the interest rate on gold loans is further fuelled by the COVID-19 epidemic. The low-interest atmosphere is primarily the reason for its overall vogue among Indians. Unlike unsecured loans like private loans, the interest rate on a gold loan is incredibly lower….
The Company’s name is its identity throughout its lifetime should be well thought out and constructed to be sustainable with the future growth of the company. The Companies Act governs the process of naming a company from its selection to any changes made thereafter. Let us discuss the procedure for the change of name of…
In this article, we will discuss the cancellation of registration under GST. Any GST payer can file an appeal if he is not satisfied with the order passed by the designated officer. An appeal against an order against a registration application must be filed on Form GST APL-01. Table of Contents Application for GST registration…