ITC-02A
New Form ITC-02A to Transfer Input Tax Credit GST ITC-02A is a declaration of untilized ITC transferred for obtaining a separate registration within the same state or union territory.   Rule 41A deals with Transfer of credit on obtaining separate registration for multiple places of business within a state or UT- (1) A registered person who has obtained separate registration for multiple places of...
Website
If you run a local business regardless of your geographic target area, then you think better about online, social and mobile. The first component of this strategy - and perhaps the most essential - is your company's website. So why do you need a website and how can you ensure that it will turn these buyers into buyers? Here are...
Marketing Your Business During COVID-19 And Other Critical Times Most countries in the country have seen themselves shut down with COVID-19 in the last few months. Many are working from home, while many are not working. Whether any of them apply to you, now is not the time to stop your business marketing. If you stop now, will people remember you...
CBDT
Reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25%...
Mudra Yojna
Pradhan Mantri Mudra Yojana (The scheme was launched on 8 April 2015 by the Honorable Prime Minister) Pradhan Mantri Mudra Yojana is a major scheme of the Government of India by bringing such enterprises into the formal financial system and providing them affordable credit. It helps to borrow up to 10 Lakhs from all public sector banks such as PSU banks,...
Big Relief
Big Relief to B2B Suppliers in Income Tax The Central Board of Direct Taxes (CBDT) vide Circular No. 12/2020, Dated 20.05.2020 clarified that the provisions of Section 269SU of the Income Tax Act, 1961 will not apply to B2B suppliers (with some conditions). The words of the circular are as under : In furtherance to the declared policy objective of the Government...
Sanitizer
Government Fixes Prices of Sanitizers, Surgical Masks and Hand Wash After declaring facial masks and hand sanitizers under essential goods, the government Fixes Prices of Sanitizers, Surgical Masks and Hand Wash set prices for these items, Union Minister Ram Vilas Paswan said in a tweet. He said that since the coronavirus outbreak (COVID-19), the Indian market has seen a huge increase...
Website
Differences between Traditional Business and Start-ups! If we are asked to define traditional start-ups and businesses, we can certainly give a clear definition of both terms. But if we are asked to differentiate between the two, we will not be able to fix the difference immediately. The reason is that so many business models are appearing these days, so many...
GST
Amendment in GST returns (GSTR 3B and GSTR 1) In the GST regime, previously Amendment in GST Returns was not possible, we saw several changes, including those made under returns. The GSTR-3B (ie, a summary return) was brought in for a short period by the government, while for details of it the FORM GSTR-1 and the FORM GSTR-2 were also...
GST REGISTRATION FOR PROPRIETOR 1. PAN card, 2. Aadhaar card, 3. Photograph, 4. Bank account details- a copy of the cancelled cheque or bank statement (Optional), 5. Address proof of office: -, a. Own office – Copy of electricity bill/telephone bill/water bill/ Municipal khata copy/ property tax receipt, b. Rented office – Rent agreement and No objection certificate (NOC) from the owner.