When Is GST Registration Mandatory for Your Business? Understanding GST registration requirements is crucial for staying compliant and avoiding penalties. The infographic highlights some of the common situations where GST registration may become mandatory. Key Situations Requiring GST Registration ✅ Turnover Threshold GST registration generally becomes mandatory when your aggregate turnover exceeds the prescribed threshold …
ICAI vs. ICMAI: Who will do the statutory audit eligibility? The Ongoing Debate on Statutory Audit Eligibility: ICAI vs ICMAI: Professionals, regulators, and industry stakeholders continue to debate who should be eligible to conduct statutory financial audits in India, making it one of the most discussed issues in the accounting profession. The debate focuses on how …
What Is the Difference Between Crypto Futures and Crypto Perpetual Futures Contracts? Cryptocurrencies are legal to buy, hold, and trade in India, but they are subject to one of the strictest tax regimes in the country. With increased reporting requirements and data-sharing by exchanges, errors in reporting crypto transactions can now lead to notices, penalties, …
Essential Journal Entries Explained Journal Entries Every Finance Professional Should Know Journal entries are the foundation of accounting. Every transaction in a business ultimately finds its way into the books through a journal entry. Whether you are a CA, CMA, MBA Finance, auditor, accountant, financial analyst, or finance manager, understanding these entries is essential for …
GST on Hotels & Restaurants – Are You Applying the Correct GST Rate? (Based on Notification No. 11/2017-Central Tax (Rate) as amended, effective from 22 September 2025) GST Rate Chart for Hotels, Restaurants & Catering Services Sr. No. Particulars of Service SAC Code GST Rate ITC Eligibility Key Condition A1 Hotel accommodation where room/unit value …
Top 10 Supreme Court Judgments under GST (since 2017) The GST regime has generated significant litigation since its introduction in July 2017. Several Supreme Court judgments have shaped the interpretation of the GST law, particularly in areas such as Input Tax Credit (ITC), refunds, imports, insolvency, registration cancellation, and compliance obligations. This article discusses the …
Company Registration in Bangalore Starts With a Virtual Office Nowadays, company registration looks different from what it did two years ago. Previously, founders used to sign a lease first and register the company afterwards. Now, a lot of them file for incorporation using a virtual address and figure out physical space later, if at all. This …
Guide on F&O Turnover Calculation for ITR Filing (AY 2026–27) One of the most misunderstood aspects of income tax compliance for traders is the calculation of futures & options turnover. Many traders incorrectly assume that turnover means the total value of contracts purchased or sold. However, for income tax and tax audit purposes, turnover is …
ITR FILING DEADLINE 2026 AY 2026–27: Are You Ready? Income Tax Return Filing Deadlines for AY 2026–27 in India. ITR FILING DEADLINE 2026 AY 2026–27.. Deadline Calendar 2026 Key Dates taxpayer Can’t Miss. lists important ITR-related due dates: Date Applicable To 31 July 2026 Salaried individuals, pensioners, ITR-1 & ITR-2 (No Audit) 31 August 2026 …
Will vs. Private Family Trust: A Comprehensive Guide to Succession Planning in India Introduction Building wealth is only half the journey. Preserving it and ensuring its seamless transfer across generations is equally important. Unfortunately, many families spend decades accumulating assets but devote very little attention to succession planning. The result is often family disputes, litigation, …