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Why Pan card is Mandatory- New Requirements

Today we discuss on the necessity of the Pan card on all transaction after 01st January 28, 2016.This are the most affected and general transaction added in the Rule which are not previously. Pan card is mandatory for doing investments,doing expenses and also for some KYC proof.  But after this new amendment pan card needed in purchase and sale bill ... Read More »

Meaning of Start up India

As we all know that Modi government has announced the benefits for start up India, here we discuss the meaning of start up India for the scheme and benefits of start up India. Meaning of Start up Business as per Start up scheme Entity covered under start up India – As we discuss in our earlier blog  there are various ... Read More »

Recent news on GST bill in India

Why G. S. T ? It is designed to simplify present indirect tax system by integrating the union excise duties, customs duties (CVD/SAD), service tax, central taxes (Central Excise Duties, ST, Surcharge & Cess, Excise Duties levied under the Medicinal & Toiletries Preparation Act), state taxes (Sales Tax/ Local VAT, CST, Purchase Tax, Entertainment Tax, Entry Tax, Taxes on lottery, ... Read More »

Compulsory Vat registration in Mumbai

Today we will discuss the Compulsory vat registration in Mumbai. there are two option for the vat registration in mumbai one is Voluntarily and second one is Compulsory. Type of VAT registration in Mumbai – Voluntarily Vat registration-  As the name itself suggest Voluntarily means self.  If a person wants TIN number from first day he can apply for the Tin ... Read More »

Business Audit in MVAT

Today we will discuss on the business audit in mvat, what are the documents to submitted for the business audit in mvat. Meaning of Business Audit? Business audit is conducted by the goverment officer of the selected dealer on the basis of certain criteria. Documents required for Business Audit We have bifurcated the list of documents required in four category Vat ... Read More »

Applicability of Swachh Bharat Cess on Service tax

Today we will discuss on Applicability of Swachh Bharat Cess on Service tax whether it will be applicable on negative list , reverse charge mechanism service etc. Also we will discuss on the payment procedure of Swachh Bharat Cess on Service tax Meaning of Swachh Bharat Cess (SBC)? It is a Cess which shall be levied and collected in accordance with the ... Read More »

VAT and Service Tax on Work Contracts in Maharshtra

Today we try to simplify the very complicated topics VAT and Service Tax on Work Contracts. Definition of work contract service – In work contract service both supply of material and service is covered.  Vat is levied on supply of material and service tax is levied for providing of service. VAT and Service Tax Rate on Work Contracts in Maharashtra – There are ... Read More »

Service tax on export of software

Today we discuss on the applicability of service tax on export of software. for applicability we have to check the definition of export in service tax. The taxable services, which are exported, are exempted from service tax. Definition of Export of Service According to the rule 6A of Service Tax Rules 1994 – (Export of Services), any service provided or agreed ... Read More »

Penalty under Companies Act 2013

Today we are discussing on Penalty under Companies Act 2013. In this blog we will discuss cases where penalty can be imposed under companies act 2013 and amount of penalty also we will discuss who is liable for the penalty as per companies act 2013. Penalty under Companies Act 2013 Cases where penalty can be imposed under Companies Act 2013 Section Particulars Who is liable Amount of penalty 4(5)(ii) ... Read More »

Annual Return MGT-7 as per company act 2013

Today we will discuss on the Annual Return MGT-7 as per company act 2013 what are the documents required for MGT-7. where to obtained the Form for MGT-7 and time limit for filing the MGT-7 as per company act 2013. REQUIREMENT LIST FOR PREPARING Annual Return MGT-7 SR NO. Required Information 1 Date of AGM 2 Contact details including phone no. ... Read More »