KnowyourGST-Blog on Indian Tax and Accountign Laws

Annual compliance for Foreign Companies and branch in India

Annual Compliance under companies Act, 2013 As per section 2 of Companies Act, 2013, “Foreign Company” means means any company or body corporate incorporated outside India which – has a place of business in Ind…

by Ca Ankit Sharma 06/04/2018 under Legal

Download Advance Tax Calculator in MS Excel

Under Income tax act, advance tax is the mechanism by which Central Government collects taxes payable in the assessment year in previous year itself. Under Income tax act, advance tax is required to be paid by all the assessees, if there is a…

by Ca Ankit Sharma 02/04/2018 under Income-Tax

Basic E-way rules and FAQ

E-way bill will become compulsory from April 1, 2018. Tax payers have to generate E-way bill for consignment value exceeding Rs. 50,000. This article will cover common issues faced by taxpayers. What is an E Way Bill? E-way bill (FORM GST E…

by Pulkit Sharma 01/04/2018 under GST

Why you should invest in public provident fund (PPF)?

If you are employed in a company, you must be paying provident fund from your salary. Normally in case of employees, employer deduct PF every month and remit. But, in case of self employed, Public Provident Fund or PPF is best option for retireme…

by Gst Payer 24/03/2018 under Investment

Life Insurance as an investment

Do you believe insurance is an investment? Have you invested heavily in investment products? If you have invested in insurance for investment purpose, you have done a mistake. Insurance is never an investment option and insurance was never …

by Gst Payer 24/03/2018 under Investment

FAQ on section 80D of Income Tax Act

1. When can deduction be claimed u/s 80D of Income tax Act? Deduction u/s 80D of Income tax Act can be claimed on payment of medical insurance premium. 2. Which assessees are eligible for deduction? Deduction can be claimed only b…

by Ca Ankit Sharma 17/03/2018 under Income-Tax

Become a MS Excel superstar at your office

Microsoft Excel or we call it MS Excel is a very powerful tool for running business. In any office most of people spend their time on excel than on any other software. How efficient you are at your workplace depends on your Excel skills. …

by Pulkit Sharma 15/03/2018 under General

What is GST?

Goods and Services Tax or GST is an indirect tax levied on supply of goods and services. GST was introduced in India on July 1 ,2017. GST replaced all other existing indirect taxes such as VAT, Excise and Service Tax among others. In this a…

by Gst Payer 14/03/2018 under GST

Benami property transactions act in simple language

How do people use and enjoy their black money? They buy properties and live an expensive life, but they do not buy on their own name. People who make black money, to hide their expenses incur these expenses on name of other people. In simple t…

by Pulkit Sharma 12/03/2018 under Income-Tax

GST Suvidha Kendra

Many people find GST compliance complicated. GST Suvidha Kendra can help you to manage your GST compliance easily and in a cost effective manner. People are searching for GST Suvidha Kendra and what services they can avail from them. Well, a G…

by Pulkit Sharma 08/03/2018 under GST

Documents required for GST registration

GST registration is made easy compred to earlier indirect tax laws. You can complete your registration online on GST portal, without having to visit office physically. In this article you will learn about documents required for GST registration b…

by Pulkit Sharma 07/03/2018 under GST

Billing Software for small businesses

Do you run a self controlled small business? If yes, then you must be looking for a user friendly and easy to use free billing software made for Indian users. Your search ends here. KnowyourGST billing software is a perfect choice to get start…

by Pulkit Sharma 07/03/2018 under KYG-Invoicing

Frauds possible under GST?

Goods and Services Tax (GST) is believed to be full proof tax structure. It is believed that with GST there will no or very less possibilities of tax evasion. Is it possible to still commit frauds under GST. Let me clarify what frauds means. …

by Gst Payer 03/03/2018 under GST

Fraud under GST

We have the first big fraud under GST. Fraud amount is around Rs. 7 crore. Fraud is committed by 2 companies from Mumbai. Let's understand what this fraud is all about and how it is done. First Big fraud under GST Companies involved in …

by Gst Payer 03/03/2018 under GST

How to apply Letter of Undertaking (LUT)?

You can export goods or service or both without paying IGST. To export goods without paying GST, you have to furnish Letter of Undertaking with GST department. Earlier you had to file LUT offline in form RFD-11, however now the process to furnish…

by Pulkit Sharma 28/02/2018 under GST