GST on Hotels – A Complete Guide
Services provided by the hotel is a taxable service in GST. The place of supply will always be the state/union territory where the hotel is located even if the guest is a registered person and has GSTIN of another state. Therefore, a hotel has to charge SGST and CGST always. The guest can take input […]
Composition Scheme for Service Providers in GST
Introduction Composition scheme under GST law is for small businesses. This is to bring relief to small businesses so that they need not be burdened with the compliance provisions under the law. An option has been provided to the eligible taxpayer who can opt to pay a fixed percentage of turnover as fees in lieu […]
Invoice Terms and conditions for Indian Businesses
When a buyer receives an invoice from the seller, he expects it to be accurate with all the necessary details and an easy to read format. All the elements of the invoice should be properly places with the market standards like total amount is expected to be on bottom right. An important element of the […]
What is POS software and how it is different from Billing Software.
What is a POS software? POS stands for Point of Sale. A point of sale system, or POS, is the place where your customer makes a payment for products or services at your store. For example: When you go to Dominos and the counter person clicks on screen and select the items you orders and […]
6 Best GST Software for CA
GST has created a lot of burden on Chartered accountants as well as business organizations as it includes lot of compliances. The other tax liabilities such as VAT, service tax etc. has been reduced. Now there is only one indirect tax regime that need compliances. However, this increased calls for practicing chartered accountants to utilize […]
6 Best TDS Software for CA
The best software can make your life easy and comfortable. Earlier, all the work was done manually. But after looking at today’s scenario, working manually may consume a lot of time. The software will make things less time-consuming. Moreover, with the introduction of IFRS and other taxation and accounting amendments, things have become complex. It […]
Pre-validate Bank Account on Income Tax e-Filing Portal
There are various ways in which you can verify your e-return, one of which is using bank account details. This option comes handy when you do not have a mobile number registered in your Aadhar card and even do not use net banking which is the most commonly used method for verifying income tax return. […]
Save Yourself from Clubbing Provisions for the Gifts Made in Cash
Meaning of Clubbing In general, clubbing means including the income of any other person into the Assessee’s total income for the purpose of taxation. Certain cases have been defined under the Income Tax Act, in which the income of other person is statutorily required to be included in the income of another person. This addition […]
Refunds under GST
A person can make an application for refund of GST before expiry of two years from the relevant date in such form and manner as may be prescribed. Such refund may be claimed in the return filed in regular manner by the taxable person if refund is related to credit balance in electronic cash ledger. […]
Section 194J – TDS on Professional or Technical Fees
Any person (other than individual or huf who is not liable to audit under section 44AB who is responsible for paying to a resident Fees for professional services Fees for technical services Royalty Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192 to a director […]