#MSME

I have been getting 5-6 calls a week from small business owners confused about GST on rent. Let me clear this up once and for all. THE BASIC RULE (post July 2022 amendment) If you are a REGISTERED business and you take a property on rent — you must pay GST under Reverse Charge Mechanism (RCM) even... Show more

The GST Composition Scheme was designed to simplify compliance for small businesses. Five years in, let me give you an honest assessment of whether it still makes sense. WHAT IS THE COMPOSITION SCHEME? Instead of filing monthly GSTR-1 and GSTR-3B, pay a fixed percentage of turnover as GST and file... Show more

Section 44AD is one of the most underutilised provisions of the Income Tax Act. If you are a small business owner or freelancer with turnover below the threshold, this could simplify your life significantly. WHAT IS PRESUMPTIVE TAXATION? Instead of maintaining books of accounts and getting them aud... Show more

Section 44AD is one of the most underutilised provisions of the Income Tax Act. If you are a small business owner or freelancer with turnover below the threshold, this could simplify your life significantly. WHAT IS PRESUMPTIVE TAXATION? Instead of maintaining books of accounts and getting them aud... Show more

The GST Composition Scheme was designed to simplify compliance for small businesses. Five years in, let me give you an honest assessment of whether it still makes sense. WHAT IS THE COMPOSITION SCHEME? Instead of filing monthly GSTR-1 and GSTR-3B, pay a fixed percentage of turnover as GST and file... Show more

If you sell on Amazon, Flipkart, Meesho or any e-commerce platform in India, there is a GST compliance layer that most small sellers completely miss — TCS (Tax Collected at Source) by the e-commerce operator. WHAT IS TCS UNDER GST? Under Section 52 of CGST Act, every e-commerce operator must collec... Show more

I have been getting 5-6 calls a week from small business owners confused about GST on rent. Let me clear this up once and for all. THE BASIC RULE (post July 2022 amendment) If you are a REGISTERED business and you take a property on rent — you must pay GST under Reverse Charge Mechanism (RCM) even... Show more