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  • 1. Charitable Trusts – A brief Introduction

    “The word ‘Charity’ connotes altruism in thought and action. It involves an idea of benefiting others rather than oneself” Supreme Court in the case Andhra Chamber of Commerce [1965] 55 ITR 722 (SC). It is a voluntary help either in money/kind to the needy. Collective efforts are always more fruitful and hence there are various Non-Governmental

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  • Input tax credit is considered very significant for every business unit which is always in the need to invest in the business in the manner of capital. The need of capital is required each and every time a business gets ready for its next project. This time in GST, a business unit will be eligible for input tax credit, only if certain cases are met with the transactions.

    Invoice matching of both the parties

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  • Search GST Number Using PAN

    GST Registration is mandatory for the business entities involved in buying and selling of goods and services with an annual turnover of Rs.20 lakhs. All registered taxpayers will be provided with a unique identification number known as GSTIN. The GST portal has been set up to search the GSTIN details using PAN. In this article, we look at the procedure to search for GST number

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  • Introduction Based on the recommendations of the 28th GST Council Meeting held recently, the Board has issued the Notification bearing No. 20/2018 dt 26th July 2018 to give effect to refund the unutilized input tax credit (ITC) on account of inverted tax structure on textile products from 01.08.2018 for certain commodities, but all the inward supplies received upto the 31st day of July 2018, shall lapse, after payment of tax for and

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  • 1. Who can opt for Composition Scheme?

    Businesses with annual turnover up to Rs 1.0 crore* can opt for composition scheme.

    Turnover of all businesses with same PAN has to be added up to calculate turnover for the purpose of composition scheme.

    Only Manufacturers of goods, Dealers, and Restaurants (not serving alcohol) can opt for composition

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