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Delivery time refers to the time at which goods/services are considered to be supplied ’. When the seller knows the ‘time’, it helps him to see the date on which to pay taxes. CGST / SGST or IGST must be paid at the time of delivery. Goods and Services have…

  XBRL is the language of electronic communication of business and financial data that transforms business reporting around the world. It offers great benefits in the preparation, analysis and communication of business information. It provides cost savings, high efficiency and improved accuracy and reliability for all those involved in providing…

  According to statistics, family-owned companies account for the majority of all enterprises in India, accounting for a substantial part of total employment. Unlike transactions involving third parties, the specific relationship between the persons transacting distinguishes a Related Party Transaction, which, if abused, can have catastrophic implications. Related Party Transactions…

  To highlight the enormous contributions made by MSMEs to the accomplishment of the Sustainable Development Goals of the United Nations, the United Nations General Assembly declared June 27 as "Micro-, Small-, and Medium-sized Enterprises Day" (A/RES/71/279) (SDGs). 90 percent of enterprises, 60 to 70 percent of jobs, and 50…

The residence status of a taxpayer is significant because the income tax department treats its taxpayers differently. As a result, it is critical for every taxpayer to verify their residence status prior to tax planning, computing tax payable, and filing. The Income Tax Department must determine a taxpaying individual's or…

Once a company has merged, there is a set of compliance procedures that must be completed to maintain compliance with the Companies Act, 2013. All Corporate Companies are required to adhere to the applicable provisions and in the commencement of the Company's business operations. Therefore, those who assemble the company…

With many Indian company attracting foreign investors in the form of cheap, easy-to-access, and affordable investments, Foreign Direct Investment (FDI) has become commonplace in the Indian economy. Similarly, Overseas Direct Investment (ODI) which means that Indian companies investing outside of India have also increased in value several times (although they…

  Liquidation is a process by which the legal position of a company ends. Companies are closed for various reasons but one of the main reasons is that companies fail to keep their promise to repay loans from creditors, working debtors, and other creditors. The previous liquidation procedure was done…

As the financial year draws to a close, all leading employees find themselves working on their investments that will help with tax deductions. It is better to plan your finances in advance than to wait a year. The Government of India has introduced various tax savings programs that offer many…

When companies issue shares in the market, purchasing shareholders are issued a share certificate. The basic sharing certificate serves as a receipt for the purchase and ownership of shares in the company. The document confirms the registered owner of the shares from a certain date. It transfers the rights and…