Consult My Tax
Member since: Jul 16, 2018
Published articles: 11
What is Composition Scheme?Composition Scheme is a simple scheme under GST for taxpayers whose turnover is less than Rs. 1.5 crore (less than 75 lakhs for North Eastern states). This scheme helps the...
WordmarkA wordmark known as a logotype is a distinct text-only typograph of the name of the company, institution or the name of the product for identification of the brand.Some of the popular...
Copyright :Copyright is a bundle of rights given by the law to the creators of literary, dramatic, musical and artistic works and the producers of cinematographic films and sound...
TrademarkAs per the Trade Marks Act, 1999; a Trademark is defined as a mark capable of being represented graphically and which is capable of distinguishing the goods or services of one person from...
Taxation of gifts :Indians have a custom of gifting people things, whether it by on an occasion, festival or otherwise. The Taxation of gifts is a very important section, whether the gift is in...
Export of Goods and Services :Export of Goods and Services occur from India to other countries against monetary consideration.Export of Goods :Export means taking goods or services from India to...
What is a GST Return?Every registered dealer or business has to mandatorily file a GST Return monthly, quarterly or/and annually based on the type of business. GST Return is a document containing...
GST Payments :After filing GSTR- 1 and GSTR- 2, the business needs to file GSTR- 3 and make GST Payments. Every registered dealer shall reduce his Input Tax Credit (ITC) from the Outward Tax Liability...
What is Reverse Charge?Normally, under the GST regime, the supplier of goods or services pays the tax on supply. But in case of Reverse Charge, the receiver of goods/ services becomes liable to pay...
What is GST Refund?GST Payment is refunded when the GST paid is more than the GST Liability. Under the GST regime, the Government provides a hassle- free refund process. The GST Refund process is...
Capital Gains :Capital Gains are the profit that a person realizes when he sells the capital asset for a price higher than its purchase price. The transfer of capital asset must be made in the...