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As per section 2(68) of the CGST Act “job work” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly.

As soon as the GST rates were announced a huge wave of curiosity hit across industry and trade bodies. Everyone is evaluating their position whether they are benefited or losing.

An application to the Authority for registration of the real estate project shall be made in writing along with declaration, as prescribed in Rules, in triplicate.

As you would be aware that The Real Estate (Regulations & Development) Act, 2016 (REDA) has commenced from 1st May 2017.

Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from the date of commencement.

The real estate agent shall pay a registration fee at the time of application for registration by way of a demand draft or a banker’s cheque drawn on any scheduled bank or through online payment.

The Indian government has launched an online system, called eSanad for document attestation.

If you are an entrepreneur then this article belongs to you. As we heard from all businessman that it’s become difficult for entrepreneurs to make enough time for their families.

GST works on a self-monitoring mechanism, which is matching the concept of invoice between supplier and recipient of goods and services. Only after matching of invoices and payment of tax by the supplier, the input tax credit will be available to the recipient.

Every transporter to maintain the records of consignor, consignee and other relevant detail of goods. Premises of transporter maybe inspected by proper officer if he is keeping goods escaping payment of tax.

In the course of Intra-State Supply (Intra-UT Supply), CGST and SGST shall be payable, these two components shall be collected and segregate by taxpayers, collect GST on the other hand in the course of Interstate transactions IGST.

The Statement of financial transactions need to be prepared by the person required to be audited in the income tax act 1961.

GST Council specifies rates 5%, 12%, 18% & 28% and categorised 1211 items under various tax slabs.

There is a large chunk of unsold inventory across the locations and available with almost all the builders. They would in all likelihood be trying to offload them and even offer a reduced rate along with other freebies. Buyers showing renewed interest in this market have to be cautious as the chances of falling into a trap could be high.

Starting a business and finding the right path where to spend money or not is a difficult task. That’s why startups often fall into the trap of spending money on things that aren’t that important it’s just one of the many mistakes that entrepreneurs can make.