Emerging Sports Industry in India: A Deep Dive into GST Implications
The sports industry in India is witnessing a significant transformation, with numerous government and private organizations hosting major sporting events. From the high-octane Indian Premier League (IPL) and the thrilling Pro Kabaddi League (PKL) to the action-packed Indian Super League (ISL), sports have become a major source of entertainment and business. As this sector grows, […]
Securing Funding: Essential Steps for Financing Your Business Growth!
Growing a business takes more than just a great idea and hard work; it also requires money. Whether you want to expand, launch a new product, or enter new markets, you need to secure funding. Here’s a simple guide to help you understand the essential steps to get the money you need to grow your […]
Comprehensive Guide to Managing GST Refund Applications on the GST Portal
Managing GST refund applications is crucial for businesses to maintain cash flow and ensure compliance. This guide will help you navigate the GST Portal to view, track, and respond to your applications, whether you filed before or after September 26, 2019. Viewing Applications, Tracking Status, and Viewing Notices/Orders For Refund Applications Filed Before September 26, […]
The Impact of GST on the Indian Art Industry
The introduction of the Goods and Services Tax (GST) in India has significantly affected various industries, including the art world. While GST has been beneficial for some sectors, its impact on the art industry has been less favorable. For art enthusiasts and collectors, understanding GST’s effect on the art market is crucial. This blog explores […]
“Attention Non-Filers: Tax Officials Can Freeze Your Bank Accounts Now!”
When individuals or businesses neglect filing their Goods and Services Tax (GST) returns, it can lead to serious repercussions. These include attaching bank accounts and canceling GST registration. According to BusinessLine, the finance ministry has added these measures to the Standard Operating Procedure (SOP) to address non-compliance with GST return filings. Filing Requirements and Non-Compliance […]
Time-Saving Tips: How to Make Your Business Life Easier!
Tips for Making Business Life Easier
Understanding Suo Moto Registration under GST
What is Suo Moto Registration? In the realm of Goods and Services Tax (GST) in India, tax officials can unilaterally initiate and complete the registration process for businesses or individuals who are liable to be registered but have failed to do so voluntarily. This mechanism is called Suo Moto Registration. Tax authorities generate and allot […]
Non-Taxable Supplies Under GST: Article 265 and Section 7(1)
Article 265 of the Indian Constitution clearly prohibits the collection of taxes without the authority of law. This principle is foundational to the applicability of the Goods and Services Tax (GST) in India. GST is levied only on supplies that are clearly defined under the law. While the application of GST might sometimes seem illogical […]
Creating Passive Income Streams: Smart Strategies for Business Owners!
As a business owner, you’re always looking for ways to grow your income without having to put in more hours at the office. Passive income streams are a great way to achieve this, providing a steady flow of revenue that allows you to focus on other aspects of your business or enjoy more free time. […]