Types of Bankruptcies in India
Have you ever wondered what happens if you can’t pay your debts? Both individuals and businesses facing financial difficulties in India need to understand the different types of bankruptcies and related remedies. Post-2016, with the Insolvency and Bankruptcy Code (IBC) in play, India’s approach to bankruptcy has transformed. This code outlines three primary bankruptcy types:...
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Understanding Enhanced Enforcement Against Non-Resident Digital Services Providers under Indian GST Post October 2023 Amendments
The landscape of Indian GST(Goods and Services Tax) laws for digital services has undergone significant changes, particularly affecting non-resident digital services providers. This shift, primarily due to amendments effective from 1 October 2023, has placed a spotlight on “online information and database access or retrieval” (OIDAR) services. In this context, it’s crucial to understand these...
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Documents Required for GST Registration for Partnership Firm
Are you setting up a partnership firm and feeling overwhelmed by the Goods and Services Tax (GST) registration process? Wondering what documents are essential for a smooth registration? Starting a partnership firm in India comes with its fair share of regulations, and GST registration is important. But where do you begin? Understanding the documents required...
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Documents Required for GST Registration for Private Limited Company
Are you starting the GST registration process for your private limited company but feeling overloaded by the amount of required documents? Understanding and gathering the necessary paperwork is an important step in ensuring a seamless registration process. This guide focuses on understanding the documents required for GST registration for a private limited company. List Of...
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Documents Required for GST Registration for Sole Proprietorship
Are you wondering about the GST registration process for your sole proprietorship in India? If you’re running a sole proprietorship in India, it’s key to know when and how to register for GST (Goods and Services Tax). This single tax system has made things simpler by combining various indirect taxes into a unified framework. One...
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Safeguarding NRI Property in India
The property in India stands as not just a tangible asset but a symbol of heritage, lineage and familial roots. For Non-Resident Indians (NRIs) owning property in their homeland often serves as a bridge to their origins, a tangible connection to their ancestral past and a potential home should they choose to return. However, the...
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Centre’s Decision to Integrate GSTN with PMLA: Aiming for Enhanced Tax Monitoring
Key Development: GSTN and PMLA Integration The Central Government recently took a decisive step by bringing the Goods and Services Tax Network (GSTN) under the domain of the Prevention of Money Laundering Act (PMLA). As explained by revenue secretary Sanjay Malhotra, this move is aimed at bolstering the capacity of investigating agencies to address tax...
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Understanding GST Evasion in India: A Tangled Web of Fraud and the Unrelenting Pursuit of Fiscal Integrity
GST Evasion in India Goods and Services Tax (GST) implemented on 1 July 2017, represents one of the most profound fiscal reforms in the Republic of India. This reform is aimed at consolidating a multitude of indirect taxes into a singular and unified system. It was designed to enhance the ease of doing business, foster...
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