The Entrepreneurial Tortoise : Inner Discipline and Focus
Bhagavad Gita: 2.58 Sanskrit Verse: यदा संहरते चायं कूर्मोऽङ्गानीव सर्वश: इन्द्रियानिन्द्रियार्थेभ्यस्तस्य प्रज्ञा प्रतिष्ठिता ॥ Translation: “When one completely withdraws the senses from their objects, just as a tortoise withdraws its limbs into its shell, his wisdom becomes firmly established.” Deep Dive into the Verse In this verse, Lord Krishna uses a vivid analogy: just as […]
GST Rates Clarifications as per Circular No. 247/04/2025-GST
The Ministry of Finance, Department of Revenue (Tax Research Unit) has issued Circular No. 247/04/2025-GST, dated 14th February 2025, to clarify GST Rates and product classifications. These updates stem from the 55th GST Council Meeting held on 21st December 2024 in Jaisalmer. The goal is to ensure consistent tax implementation across different regions. Below are […]
ITC in Real Estate: A Guide for Developers, Contractors & Buyers
Introduction The restriction on Input Tax Credit (ITC) in real estate arises from Section 17(5) of the CGST Act, 2017. This section classifies specific expenses as ineligible for credit. Further, amendments and notifications have added constraints, mainly affecting residential and commercial projects. ITC under GST allows businesses to offset tax paid on inputs like raw […]
GST in E-Commerce: Impacts, Advantages, and Challenges
Introduction The Goods and Services Tax (GST) has revolutionized India’s tax landscape since its introduction on July 1, 2017. Designed to streamline taxation, reduce cascading taxes, and promote transparency, GST has played a pivotal role in shaping the e-commerce sector. While GST has simplified tax compliance for many industries, e-commerce sellers face unique challenges due […]
Builders & Promoters: GST Rules for RCM and 80% Purchase Compliance
Builders & Promoters must follow Reverse Charge Mechanism (RCM) rules when purchasing goods and services. To qualify for a lower 1% or 5% tax rate, they must buy at least 80% of input goods and services from registered dealers. If they fail to meet this rule, they must pay 18% GST under RCM on the […]
The Entrepreneur’s Guide for Sustainable Success:
Bhagavad Gita: Chapter 2, Verse 57 Sanskrit Verse: य: सर्वत्रानभिस्नेहस्तत्तत्प्राप्य शुभाशुभम् | नाभिनन्दति न द्वेष्टि तस्य प्रज्ञा प्रतिष्ठिता || Translation:” He who remains unattached to everything, neither rejoicing when meeting with good nor despising evil, is firmly fixed in perfect wisdom.” “He who remains unattached to everything, neither rejoicing when meeting with good nor despising […]
GST on Export of Services: A Complete Guide to Refunds and Compliance
GST on Export of Services offers several advantages, yet businesses must navigate tax compliance requirements carefully. This guide simplifies the GST framework for exporting services, covering refunds, compliance, and essential documentation to ensure a smooth process. Table of Contents Understanding GST on Export of Services Under GST, the export of services is classified as a […]
Equanimity in Entrepreneurship !
Bhagavad Gita: Chapter 2.56Sanskrit Verse: दुःखेष्वनुद्विग्नमना: सुखेषु विगतस्पृह:। वीतरागभयक्रोध: स्थितधीर्मुनिरुच्यते।। Translation: One whose mind remains undisturbed amidst sorrow, who is free from craving for pleasure, and who is devoid of attachment, fear, and anger is called a sage of steady wisdom. Relevance to Entrepreneurship Krishna highlights the qualities of emotional resilience and detachment, essential for […]
Form ENR-03: E-Way Bill Enrolment for Unregistered Dealers
The E-Way Bill (EWB) system has introduced a new feature that simplifies compliance for unregistered dealers engaged in goods transportation. Starting February 11, 2025, businesses without GST registration can enrol using Form ENR-03 to obtain a unique Enrolment ID. Consequently, they can now generate e-Way Bills effortlessly without requiring a GSTIN. This update, introduced through […]
The Path to Steady Wisdom!
Bhagavad Gita: Chapter 2.5 Sanskrit Verse: श्रीभगवानुवाच: प्रजहाति यदा कामान्सर्वान्पार्थ मनोगतान्। आत्मन्येवात्मना तुष्ट: स्थितप्रज्ञस्तदोच्यते।। Translation: The Blessed Lord said: “O Partha, when a person gives up all desires arising from the mind and finds satisfaction in the self alone, such a person is said to be of steady wisdom.” Context and Explanation In this verse, […]