Tax avoidance simply means that you structure your businesses in such a manner that you pay less tax than you would pay otherwise, and thus it is absolutely legal. However, configuring has to be done lawfully. By using illegal means reducing your tax liability is Tax Evasion. Illegitimate means are making untruthful refundable credits, announcing untrue income or deductions. Any […]
On October 1, 2020, mandatory e-invoicing under the Goods and Services Tax was fully enforced after being postponed twice in 2020. Although this latest invoice authentication method only applies to business-to-business (B2B) transactions by businesses with an annual turnover above 500 crores, there has been a strong initial response to e-invoicing for the time being. More than 65 lakh invoice […]
The primary objective of each startup is to expand and evolve at a fast rate. The utterance “Startup” goes beyond referring to a business that is just starting out, which typically refers to a technology-oriented business with high growth potential. Startup India was introduced by the Government of India on 16 January 2016. The purpose of this initiative, furthermore, was […]
Governments around the world are undertaking steps to integrate IT in all governmental structures due to the exponential growth of the internet and digitization. This is the e-government idea. This is in order to make sure the Govt. Management is a smoother and much more transparent process. It also helps save considerable expenses. What is E-Governance? E-Governance may be described […]
In modern business, various devoted and savvy company owners understand the importance of intellectual property (IP) for the success of their company and end up naming patents, trademarks, and copyrights. These are some of the diverse variations which Intellectual property (IP) can present. But the differences between copyrights, patents, and trademarks, even for business people who regularly deal with IP, […]
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 […]