Countries implementing value-added tax with credit mechanisms are grappling with the global menace of input tax credit frauds. In an attempt to curb this menace, the GST law introduced various anti-abuse provisions, which included matching the GST credit taken by a taxpayer with the GST paid by its supplier over the GSTN.Introducing changes in GSTR 2A Recently, the GST authorities […]
The most popular form of business entity is a private limited company. Private limited companies in India are administered by the Companies Act under the Ministry of Corporate Affairs (MCA). As per MCA guidelines, every private limited company is bound to fulfill the mandatory secretarial compliance filings or ROC compliance within the fixed due date to avoid penalties. About ROC […]
GST (Goods and Services Tax) is essentially an indirect tax which has been implemented to replace numerous taxes in India. Online GST registration was approved in the Parliament on 29th March 2017 and became effective from 1st July 2017 in India. As per the changes in the 32nd council meeting, the threshold limit for GST registration is 40 lakhs for […]
Initiation of company registration is an important aspect for any entrepreneur to set up a business. A business has to comply with all the legal requirements before launching it in the market. New company registration services and filling is a monotonous process which requires precision and proper documentation. A company registration process must be done under expert guidance for error-free […]
About Legalway LLPFounded in October 2013, with a mission to provide ease of doing business for entrepreneurs with the regulatory assents and related laws. LegalWay LLP is India’s largest online business service providing platform, dedicated to aiding businesses with legal solutions and management of financial compliances. Legal way is a one-stop solution for all the legal requirements with an array […]
What is MSME ? MSME or Micro, Small and Medium Enterprises is a group of businesses defined by the government of India under the act of (MSMED), 2006. They were classified in two categories:1. Enterprises engaged in the manufacture or production, processing or preservation of goods with as investment below Rs.25lakh are Micro Enterprises, investment of Rs 25 lakh to […]
About GST (Goods and Services Tax) in India Good and Services Tax is a tax imposed by the government of India on the procurement of good and services in the country. The tax was introduced in the year 2017. It has replaced all other forms of indirect taxes, like Value added tax (VAT), and combined them all into a single […]
A company registration refers to legally registering your business as a corporate entity or company. An incorporated business offers many more benefits over sole proprietorship or partnership firms. We have enlisted the advantages of company registration in India : Legal Entity/Status or Recognition Established under the act , a private limited company is a legal entity. The company exists separately […]