Audits under GST (Goods and Services Tax) ensure compliance with tax laws, accuracy in tax payments, and proper maintenance of records. Businesses must understand the nuances of GST audits to remain compliant and avoid penalties. Here’s a detailed breakdown of GST audit essentials. What is a GST Audit? A GST audit involves verifying a taxpayer’s […]
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ESIC (Employees’ State Insurance Corporation) Employees’ State Insurance Corporation (ESIC) provides a comprehensive social security scheme for workers, ensuring their well-being by offering medical, maternity, disability, and other benefits. If you’re a business owner with employees, understanding ESIC Registration is essential for legal compliance and for providing crucial benefits to your workers. This guide will
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Introduction to GSTR 9 GSTR 9 is the annual return under the Goods and Services Tax (GST) system. It is a comprehensive summary of all the monthly or quarterly returns (GSTR-1, GSTR-3B) filed by a registered taxpayer throughout a financial year. This return helps taxpayers report their total inward and outward supplies and the Input
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If you are a director or partner in a company, you would have come across the term Director Identification Number (DIN). It is a unique identification number allotted to individuals who wish to become directors or partners in any registered company in India. However, with new regulations being introduced by the Ministry of Corporate Affairs
Understanding DIR 3 KYC and DIR 3 KYC WEB: A Complete Guide for Directors Read More »
A Simple Guide to HSN, SAC & State Codes Under GST When it comes to filing taxes under the Goods and Services Tax (GST) system, understanding specific codes for goods, services, and states is key. These codes make tax compliance easier and prevent errors that could lead to penalties. This guide will explain everything you
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Introduction Non-Profit Organizations (NPOs) help people and work for good causes like education, healthcare, and poverty relief. In Maharashtra, one way to start an NPO is by making a trust. Trusts are governed by a law called the Bombay Public Trusts Act (BPT Act), 1950. This blog will explain what a registered trust is, how
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Understanding GST Return Filing Late Fees In India, the Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services. Once a taxpayer successfully registers on the GST portal, they are obligated to file periodic GST returns online. These returns detail a company’s business activities, tax liabilities, and
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