GST Registration Online: SuperCA

  Income Tax Return (ITR) is a form which an individual is required to submit to the Income Tax Department of India. It contains information about the person’s income and the taxes to be paid on it during that particular year. ITR filing is mandatory for all those who have income above the basic exemption limit under the Income Tax Act, 1961 The details of income earned by an assessee in a financial year are communicated to the Income Tax Department by the ITR filing. But in many cases, taxpayers leave ITR filing to the fag end of the due date. There is no doubt that they can also get their ITR filing done at the last moment, but the probability of committing a mistake, missing out on entering an important figure related to income or deduction or even making an oversight while filing ITR may not be ruled out. One can even file the wrong ITR form instead of filing the right form based on the income source. While filing ITR, the taxpayers are required to choose the correct form. If I...

  Director identification number (DIN) refers to a unique identification number that is given to a person desiring to be a director or an existing director at the time of company registration. In this digitised era, application in eForm DIR-3 was sufficient to obtain DIN. For any individual who wants to be a director in one or more companies, this was only a one time process. However, now with the move of the MCA to update its registry, all directors with a DIN will have to submit their KYC details annually in eForm DIR-3 KYC. This annual KYC for all DIN holders has been made mandatory by the MCA w.e.f. 10th July 2018 by including Rule 12A to Company registration Appointment and Qualifications of Directors) Rules, 2014. This compliance is pertinent to every person enduring DIN with ‘Approved’ status and also to those who are disbarred. There is a dual intention behind KYC of individuals holding DIN, firstly to assure updated data is available in the reports of the Government in res...

  Circular No. 160/16/2021-GST dated 20th September, 2021 published by the CBIC, has imparted a clarification in respect of certain GST related issues. Clarification with respect to section 16(4) for Debit Notes, Carrying physical copy of E-Invoice during transportation & refund of GST on goods where export duty is applicable, has been provided.     ➤ Availment of ITC on debit notes   The Section 16(4) of the CGST Act, 2017 was amended vide the Finance Act, 2020, so as to delink the date of issuance of debit note from the date of issuance of the underlying invoice for purposes of availing input tax credit w.e.f 01.01.2021. The line of amendment that was made stated:   “A registered person shall not be entitled to take ITC in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return u/s 39 for the month of September following the end of FY to which such invoice or invoice relating to such debit...

Company Registration is the overriding and most important step for any business organization. To protect your business and secure its rights, company registration is very essential. It shields the business from personal liability and protects from other risks and losses and at the same time provides more customer attraction, more capital contribution, greater stability and increases the company's potential to expand. Before going for company registration , you should have a clarity on the kind of business you are into, your goals and objectives since each of these types come with their own legal implications.  There are various forms of businesses available that one can register with both as a simple owner or as partnerships. Among the single owner company forms, ‘ One Person Company’ in India is a new concept that has been introduced with the Company's Act 2013. In OPC, the company can be registered under MCA and Companies Act, 2013. If you want to start a corporation with l...

  GST returns  must be compulsorily filed by all persons having GST registration irrespective of turnover or profit. Even in the cases with no business activity or turnover in a month but if the person is registered with GST, he/she should file GST returns. Regular taxpayers shall file monthly GST returns and dealers registered under Composition Scheme shall file quarterly GST returns. On the other hand, any non-resident taxable persons shall file one return every month. In this blog, we’ll look  a t the various issue regarding not/late filing of two major return i.e GSTR 1 and GSTR 3B and their individual impacts. Let’s start this with a short introduction to GSTR 1 and 3B. GSTR 1 is furnished by taxpayers for providing the details of Outward supplies or sale transactions made and could be filed monthly/ quarterly(if opted under the QRMP scheme). Any amendments have to be recorded in the GSTR-1 like previous tax years and sales invoices. The usual due date for filing GST...

  ROC returns are financial statements or annual returns of a company that must be filed on time to the registrar of companies with the MCA each year. It is mandatory for companies to intimate about the management via prescribed ROC forms on an annual basis, just like an Income tax return is submitted to the Income-tax department. As per the Companies Act, 2013, non-filing of annual returns is an offence. Hence, it is indispensable for a company to file the annual return with the MCA within 60 days of the Annual General Meeting and within 30 days for a Financial Statement. Form AOC 4 & MGT-7 are required to be filed with ROC within 30 days & 60 days from the date of the Annual General Meeting of the company respectively. The timely and yearly filing of Roc forms avoids the burden of penalty, which may arise due to non-filing as required by the Companies Act, 2013 law. In this blog, we’ll have a look at the various consequences and the penalties for non-filing of RoC on time...

  India has seen a boom in expansion and penetration of various E-commerce platforms like Amazon, Flipkart, swap deals with great momentum in the past few years. These platforms allow other traders to become a seller on these platforms.   GST was introduced by the government as a single tax for the entire country to simplify the Indirect Tax System. GST registration serves as the foundation for all tax lines, including Central Excise, Service Tax, and VAT etc. Now, any Seller or Vendor is required to get registered under GST to be able to sell on these platforms. Here is a complete guide on how to file returns if you want to sell goods on any of these platforms.   The rules are different for people who provide services via platforms like UrbanClap or provide food via Swiggy or cab service via uber/ola. This guide is only for persons who sell goods on Amazon, Flipkart or other similar platforms.   Why is GST Registration and filing mandatory for Amazon Vendors/Seller...