Section 462 of the Companies Act, 2013 provides crucial exemptions to private companies and raises concerns in the general meetings. In India, we need to operate the private company structure uniquely as compared to the public. These exemptions’ purpose is to make meeting procedures more flexible and minimize regulatory burdens for private companies. In this…
In the era of commerce, small and medium sized enterprises (SMEs) from the world’s economies backbone, making employment, determine innovation, and enhancement in economy. However, issues faced by these entities is the timely recovery of dues owed to them. The long delay in payments generally strains their cash flow, delaying its efficiency in performance and…
Recently, various micro food processing enterprises are in trend, and access to financial resources can often determine the trajectory of success or being stagnant. By recognizing the need of financing for the micro food processing enterprises, the government has launched a scheme of Pradhan Mantri Formalization of Micro Food Processing Enterprises (PMFME), which has a…
E-invoicing under GST might seem complex at first, but it’s the new way for many Indian businesses to send bills electronically. It helps the government keep track of transactions but skipping it can create a chain reaction of issues for your company. Penalties are just the beginning! Here’s why staying on top of e-invoicing is…
Thе Goods and Sеrvicеs Tax (GST) was introducеd in India in 2017, It mandatеs the rеgistеrеd taxpayеrs to filе rеgular rеturns to dеclarе thеir taxablе suppliеs and tax liabilitiеs. Howеvеr the situations arisе whеrе taxpayеrs fail to comply with this obligation? Sеction 62 of CGST Act (Cеntral Goods and Sеrvicеs Tax) 2017 dеals with thе…
GST Amendments in the Interim Budget: Budget Day is a highly awaited occasion in India, where both enterprises and the common people anxiously anticipate comprehending the programs and Endeavours that may offer them potential advantages. In consideration of the upcoming elections, the Interim Budget 2024 has been replaced with an Interim Budget for this year….
CBIC Circular on GST Reimbursements :The Goods and Services Tax (GST) has seen a constant evolution and one area, which has enhanced attention, is the taxation of reimbursements. Recent circular issued by the Central Board of Indirect Taxes and Customs (CBIC) has injected new challenges and opportunities into the GST aspect. In the current guide,…
Tax Deducted at source contains various sections two important TDS sections are 194R (Nexus with Business or Profession) and 194S (Transfer of Virtual Assets & Cryptocurrencies). These sections are like main characters when it comes to Tax Deducted at Source (TDS). The TDS Section 194 R deals with the taxation of perks or benefits related…
A recent enhancement in the taxation system will lead taxpayers an equipped tool, which is valuable and known as the ability to file revised Goods and Services (GST) returns. These returns will be executed from 2025, it is a transformative change to streamline the tax filing procedure and also empower entities along with individuals. In…
In the world of online services, it’s essential to know about OIDAR (Online Information and Database Access or Retrieval) services. These are services you get online, like accessing information or databases, and they pose special challenges in terms of taxes. With technology changing how services reach us, OIDAR services have become a big part of…