compliance Archives - eFiling India

Complete Guide to Form 80G and 12A Registrations in India: Importance, Advantages, and Application Process

By eFiling India TeamPosted on June 20, 2024Posted in Income TaxTagged Accountability, Advantages, Application Process, Charitable Organizations, compliance, Donors, Eligible Entities, Financial Sustainability, Form 12A, Form 80G, importance, India, Philanthropy, Registrations, required documents, tax benefits, TransparencyNo Comments

Understanding Form 80G and 12A Form 80G and 12A are certifications issued by the Income Tax Department of India that provide tax benefits to donors and entities. Here’s what they entail: Form 80G Purpose: It allows tax deductions to donors who contribute to charitable organizations. Entities Eligible: Charitable trusts, NGOs, religious institutions, etc. Benefit to […]

Navigating GST and TDS on Rent: A Comprehensive Guide for Tenants

By eFiling India TeamPosted on June 13, 2024Posted in GST, TDSTagged commercial properties, compliance, GST, lease agreements, penalties, procedural aspects, rates, record-keeping, rent, tax authorities, tax obligations, tax regulations, TDS, TDS certificates, tenants, threshold limitsNo Comments

Comprehensive Guide on GST on Rent Introduction Goods and Services Tax (GST) is an indirect tax implemented in India on the supply of goods and services. One of the significant areas where GST is applicable is the rental income derived from the leasing of commercial properties. This guide will provide an in-depth understanding of how […]

Comprehensive Guide to GSTR-9C: Reconciliation Statement & Certification

By eFiling India TeamPosted on May 29, 2024Posted in GSTTagged annual return, applicability, certification, changes, compliance, due date, FAQs, format, GST, GSTR-9C, importance, India, late filing, penalties, reconciliation statement, self-certification, taxpayers, turnover limitNo Comments

1. Introduction to GSTR-9C What is GSTR-9C? GSTR-9C is a reconciliation statement mandated under the Goods and Services Tax (GST) regime in India. It is a statement of reconciliation between the annual returns filed in GSTR-9 and the audited annual financial statements of the taxpayer. This document ensures that the values reported in the GST […]

FSSAI Compliance Made Easy: Registration, Licensing, and Essential Documentation

By eFiling India TeamPosted on May 20, 2024Posted in FoSCoS, FSSAITagged benefits, compliance, consumer trust, eligibility criteria, food business, food industry, FSSAI license, FSSAI Registration, guide, process, required documentsNo Comments

Starting a food business involves navigating various regulations and standards to ensure safety and quality. In India, the Food Safety and Standards Authority of India (FSSAI) plays a crucial role in regulating and supervising food safety. Understanding FSSAI registration is essential for ensuring compliance and building trust with consumers. This guide provides an overview of […]

Unlocking GST: A Deep Dive into ITC Restrictions – Explore Why You Can’t Claim Input Tax Credit in These Scenarios

By eFiling India TeamPosted on May 18, 2024Posted in GSTTagged business transactions, compliance, Composition Scheme, GST limitations, GST regulations, India, Input Tax Credit (ITC), personal expenses, tax benefits, works contractsNo Comments

Certainly! Here’s a detailed guide on cases where Input Tax Credit (ITC) under the Goods and Services Tax (GST) in India cannot be availed, focusing on various categories like motor vehicles, food and beverages, insurance services, membership fees, and more, along with examples for better understanding: 1. Motor Vehicles and Conveyances Input Tax Credit cannot […]

Is it Right to Have Bill to Party Different from Sold to Party?

By eFiling India TeamPosted on May 13, 2024Posted in GSTTagged accuracy, Advantages, best practices, Bill to Party, billing flexibility, business transactions, communication, compliance, customer relationships, differentiating, financial management, invoicing processes, Sold to PartyNo Comments

In the realm of business transactions, the relationship between the Bill to Party and the Sold to Party plays a significant role in determining the flow of invoicing, payment responsibilities, and overall customer experience. Let’s explore this topic in detail, focusing on the advantages, considerations, and best practices associated with having these parties differ. Understanding […]