A Complete Guide to Getting a Mumbai GST Number The Goods and Services Tax (GST) is a unified taxation system implemented in India to replace several indirect taxes levied by both the central and state governments. If you run a business in Mumbai or anywhere in India, registering for GST is mandatory if your business…
Income Tax Computation Statement Format: Complete Guide for Filing An Income Tax Computation Statement is an essential document that summarizes a taxpayer’s income, deductions, and taxes payable for a specific financial year. It is used to calculate and file income tax returns (ITR) in accordance with Indian tax laws. Whether you’re a salaried employee, a…
Salient Features of GST: Understanding India’s Landmark Tax Reform The Goods and Services Tax (GST) is one of the most significant tax reforms in India’s history. Introduced on July 1, 2017, GST was designed to streamline the country’s complex tax structure, unify the national market, and make taxation simpler and more transparent. This comprehensive guide…
Comprehensive Guide to Budget 2024: What You Need to Know The Budget 2024 is a pivotal moment for the country’s economic planning, laying down the government’s financial roadmap for the year. This comprehensive guide delves into the key aspects of Budget 2024, exploring its implications, major announcements, and how it affects various sectors and the…
Compulsory Registration under GST Section 24 The Goods and Services Tax (GST) regime, which was implemented in India on July 1, 2017, revolutionized the indirect taxation system by consolidating multiple taxes into a single tax. Under the GST framework, businesses engaged in the supply of goods and services are required to register for GST and…