Posted On:  1 week ago


Process and documents required for Education Loan

Anyone who has secured an admission into an approved course in India or elsewhere is eligible for an Educational Loan. The bank manager has discretion in approving the loan based on the student's academic performance and the expected employment opportunities for the course.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


How to make family constitution in India

A Family Constitution is a system of joint decision-making, most often by a board of directors and a family council, which helps the owner family govern its relationship with its wealth and enterprises. It is often assisted in this mission by a family constitution capturing the family’s vision and important family values, a family employment policy setting the requirements for the employment of family members in the firm or family office, an ownership

article author Varsha Kewalramani

Posted On:  1 month ago


Short FAQs on Tweets Questions received by GST_GOI handle

The tweets received by ask GST_ GoI handle were scrutinized and developed into a short FAQ of 100 tweets.

article author CA Chirag Chauhan

Posted On:  1 month ago


Format of Invoice in GST for Goods and Service and Mandatory Requirement

Under the GST act the details to be maintained in invoice, types of invoice has been specified. As per nature of transaction they are required to be prepared. Under this article a detailed elaboration has been made on the types of invoices which are required to be prepared along with the details to be mentioned.

article author CA Chirag Chauhan

Posted On:  1 month ago


Register your tenant with Mumbai Police or pay fine or go jail – Mumbai new Law

Terrorism is one of the global issues faced by the people around the world and Mumbai is not out of this problem. Due to past many such instances in Mumbai there is always a fear of terrorism or any such activity. It is feared that terrorists may seek refuge in Mumbai and in order to prevent such mishappening, Mumbai police have issued a circular ordering all landlords and homeowners to submit the details of their tenants

article author Dharmesh Jain

Posted On:  2 months ago


Registration for GST migration started from 1 June, Step wise process and documents required.

Have you missed to register and migrate to GST. The Enrolment process has started again from 1 June 2017 and will be open for 15 days. All the exsisting taxpayer need to migrate to GST

article author CA Chirag Chauhan

Posted On:  2 months ago


Exempt Services under GST in India from May 2017

Services by Government or a local authority excluding the following services— (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;

article author CA Chirag Chauhan

Posted On:  2 months ago


Services under reverse charge as per GST in India

ABCThe fitments of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28%. The list of services that will be under reverse charge as approved by the GST

article author CA Chirag Chauhan

Posted On:  2 months ago


GST rates for services in India as on May 2017

The fitments of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The information is being uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes.

article author CA Chirag Chauhan

Posted On:  2 months ago


Are you required to file Statement of Financial transactions - Form 61A filing under Section 285BA Rule 114E?

Many individuals and corporate have started receiving emails to file Statement of Financial transactions (SFT) by all reporting persons covered under Rule 114E of Income-tax Rules, 1962. Due date for filing the same in Form 61A is 31st May 2017, The Article give you detail of its applicability, transaction and entity covered, exemption and monetary limit

article author CA Chirag Chauhan

Posted On:  2 months ago


Composition scheme under the GST

The word ‘composition’ comes from the Latin componere, meaning "put together". It is a feature of Indirect Tax laws that in order to provide a comfort to assessee from complying with the requirement of paying tax on value addition by maintaining detail of ‘inputs’ and ‘outputs’, a option is provided to go for a put together scheme.

article author KUNAL BUDHRAJA

Posted On:  2 months ago


Rights of a Married Daughter as per Hindu succession Act in Ancestral Property

Keeping the aforesaid position of Hindu Law, in its 174th Report (May 2000), the Law Commission of India was of the view that the gender reforms were called for to ensure equality. The Commission noted the fact that in various States such as Kerala, Andhra Pradesh, Tamil Nadu, Maharashtra and Karnataka, attempts had already been made to bring about the gender equality.

article author Varsha Kewalramani

Posted On:  4 months ago


Top 9 landmark cases and judgments that brought a change in India

Vodafone was embroiled in a $2.5 billion tax dispute over its purchase of Hutchison Essar Telecom services in April 2007.  The transaction involved purchase of assets of an Indian Company, and therefore the transaction, or part thereof was liable to be taxed in India as per the allegations of tax department. Vodafone Group entered India in 2007 through a subsidiary based in the Netherlands, which acquired Hutchison Telecommunications International Ltd’s

article author Dharmesh Jain

Posted On:  4 months ago


How to ensure that rent you paid is not claimed as fake by IT Department? And get proper HRA exemption

Recently in 2017 March, ITAT Mumbai Bench did not allow HRA exemption claim stating it as based on sham rent payments supported only by rent receipts from mother without paying actual rent. In the view of above decision many salaried employee who are claiming HRA by paying to their parents, relative and friends have to know proper rule under which HRA can be claimed and what all documents are required, including legal judgments supporting the claim. The article give you a detail guidelines so that you can claim proper HRA as per the rules and have adequate documents to support your claim. There is nothing in the law to stop the taxpayer from renting premises from parents and relative and claiming the HRA benefit for such rental payment.

article author CA Chirag Chauhan

Posted On:  4 months ago


Your PAN number will be Invalid and you will not able to file tax return, if not linked to Aadhaar card by 1 July 2017

How smartly the government has used Aadhaar to reduce corruption from direct benefit transfer for LPG in which the subsidy on LPG cylinders will be credited directly to consumers' Aadhaar-linked bank accounts, KYC verification process to recently launching “Aadhaar Pay” on 14th April 2017, a payment system which will enable people to carry out bank transactions just by using their thumb impressions. While the law had empowered the Centre to mandate use of Aadhaar in most of the center funded schemes, since then the corruption level has significantly reduce. In recent Finance Act 2017 government has mandated use of Aadhaar for filing returns and linking of all existing PAN Number with Aadhaar Number.

article author CA Chirag Chauhan

Posted On:  4 months ago


FAQs on Transitional Provisions under Goods and Service Tax

A registered person, other than a person opting to pay tax under composition scheme, shall be entitled to take credit in his electronic credit ledger the amount of CENVAT (or VAT credit) credit carried forward in the return of the last period before the appointed day, subject to the conditions stated therein. (Section 140(1) of the CGST/SGST Act)

article author One Roof Consultant

Posted On:  4 months ago


FAQs on Frontend Business Process on GST Portal

Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services to both central and state governments including tax payers and other stakeholders. The Frontend services of Registration, Returns, Payments, etc. to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.

article author One Roof Consultant

Posted On:  4 months ago


Overview of IGST under Goods and Service Tax

A supply of goods and/or services in the course of inter-State trade or commerce means any supply where the location of the supplier and the place of supply are in different States, two different union territory or in a state and union territory Further import of goods and services, supplies to SEZ units or developer, or any supply that is not an intra state supply. (Section 7 of the IGST Act).

article author One Roof Consultant

Posted On:  4 months ago


FAQs on GST Offences & Penalties, Prosecution & Compounding under Goods and service tax

If any person transports any goods or stores any such goods while in transit without the documents prescribed under the Act (i.e. invoice and a declaration) or supplies or stores any goods that have not been recorded in the books or accounts maintained by him, then such goods shall be liable for detention along with any vehicle on which they are being transported.

article author One Roof Consultant

Posted On:  4 months ago


FAQs on Inspection, Search, Seizure and Arrest under GST

As per law dictionary and as noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery to go, look through or examine carefully a place, area, person, object etc. in order to find something concealed or for the purpose of discovering evidence of a crime. The search of a person or vehicle or premises etc. can only be done under proper and valid authority of law

article author One Roof Consultant