Pros and Cons of GST Registration GST Regime in India Before the introduction of Goods and Service Tax (Often referred as GST), Indian consumers paid various taxes on goods and services. Since the constitution allows both the center and state to levy taxes, each state levied their own taxes on the goods coming into their…
What is Reverse Charge Mechanism Under GST? What is Reverse Charge? Reverse charge mechanism is not new in Indian tax regime. It existed in service tax as well where it is applicable to only service and not on goods. Service providers were liable to collect and deposit the tax. Although, the burden of tax lies…
How to Cancel GST Registration? What is meant by cancellation of registration? GST has subsumed all other indirect taxes that were applied by the state and the central government. It is a tax levied at predetermined rates in a categorized manner on each level of value addition of goods and services. GST Registration is important…
Advantages and Disadvantages of GST One of the biggest tax reform in the history of India has hailed Goods and Service Tax, commonly referred to as GST in India. Levied on both goods and services, the tax has replaced many indirect taxes that were imposed by the Center and the State government. Any tax regime…
What is GST? What is GST – Goods and Services Tax The Goods and Service Tax Act, 2017 passed in the Parliament led to the imposition of Goods and Services Tax (GST) in India. It is an indirect tax or consumption – based tax levied on the supply of goods and services. It is levied…
GST Returns (GSTR) : Types of GST Returns With the imposition of GST in India, the process has been simplified as many of the taxes have been removed. Therefore, all the citizens of India need to report using the same structure irrespective of the location and type business. The GST Council and the Ministry of…
Stamp Duty and Registration Laws Why was Rent Control Act introduced in Uttar Pradesh? Lucknow Rents, Hotel and Lodging House Rates Control Act, 1947 froze the rents at 1940 rates or the rates decided by courts. As an alternative, rent controlled properties were allowed to be sold form one tenant to another at something approaching…
What is Leave and License Agreement A leave and license agreement is an agreement wherein the licensor temporarily allows the licensee to use and occupy licensor’s immovable property full or a portion of it, for the purpose of carrying business activity or residential use. For this, the licensor shall be paid by the licensee a…
Things to Know before buying a Second Hand Flat Buying a property is one of the biggest investment that one makes in life. Therefore, one must be completely sure of what they reinvesting into. Buying a flat might mean putting all their lifetime earnings into one. Therefore, the investment decisions must be a careful one.…
Revocation of Leave and License Agreement What is a leave and license? A leave and license is granted by the grantor for an immovable property. It is a personal right and does not gives the permissive right. It does not create any duties and obligations upon the persons involved in the process of making the…