thinkbizfilings

29 Mar 25

Choosing Between the Composition and Regular Schemes under GST: A Comprehensive Guide

Choosing Between GST Composition and Regular Scheme: A Comprehensive Guide Introduction Goods and Services Tax (GST) is a pivotal tax reform in India, streamlining indirect taxation for businesses across sectors. One of the fundamental decisions every registered taxpayer must make is choosing between the Composition Scheme and the Regular Scheme.…

29 Mar 25

GST Compliance Checklist for FY 2025-26

GST Compliance Checklist for FY 2025-26 As businesses step into FY 2025-26, ensuring GST compliance is crucial for smooth operations and avoiding penalties. Here’s a comprehensive checklist to help businesses stay compliant with GST regulations: 1. Annual GST Registration & Updates ✔ Verify GST registration details and update if required.✔…

28 Mar 25

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule In a significant update for businesses, the government has mandated that all e-invoices must be reported on the Invoice Registration Portal (IRP) within 30 days from the date of invoice generation. This rule applies to taxpayers with an aggregate…

28 Mar 25

Clarifications on GST Rates and TDS Provisions for Specific Goods, Services, and Partner

Key Tax Updates: GST Clarifications & Income Tax Amendments The government has issued two important updates affecting GST rates and Income Tax compliance. 1. GST Clarifications – Circular No. 247/04/2025-GST (Dated 14th February 2025) Based on the decisions of the 55th GST Council meeting, this circular provides clarity on GST…

27 Mar 25

Eligibility to be a Member of a One Person Company (OPC) in India

Eligibility to be a Member of a One Person Company (OPC) in India A One Person Company (OPC) is a unique business structure in India that allows a single entrepreneur to operate a company with limited liability. However, not everyone can become a member of an OPC. Who is Eligible…

27 Mar 25

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5 The Ministry of Corporate Affairs (MCA) has issued an update regarding the AGILE PRO S form, which is filed as part of the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) process. This change affects businesses applying for…

27 Mar 25

Half-Yearly Return Mandated for Delayed Payments to MSMEs

Half-Yearly Return Mandated for Delayed Payments to MSMEs The Ministry of Micro, Small and Medium Enterprises (MSME), through a notification dated 25th March 2025, has introduced a new compliance requirement for businesses dealing with Micro and Small Enterprises (MSEs). Companies procuring goods or services from MSEs must now submit a…

26 Mar 25

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025 To ensure the smooth completion of pending departmental work for FY 2024-25, the Central Board of Direct Taxes (CBDT) has directed that all Income Tax Offices across India will remain open on 29th (Saturday), 30th (Sunday), and…

26 Mar 25

WhatsApp Chats Expose Rs 200 Crore Tax Evasion: FM Nirmala Sitharaman Justifies New Tax Bill

WhatsApp Messages Used as Evidence in Rs 200 Crore Tax Evasion Case In a groundbreaking development, Finance Minister Nirmala Sitharaman revealed that tax authorities unearthed Rs 200 crore in tax evasion using WhatsApp messages as evidence. This disclosure came as she defended the New Income-Tax Bill, which aims to empower…

26 Mar 25

Key Clarifications on Finance Bill 2025 – Supplementary FAQs Released

Overview The government has released supplementary FAQs addressing key aspects of the Finance Bill 2025, offering much-needed clarity on various tax and compliance measures. Key Highlights Category Clarifications Tax Rates No changes in corporate or individual tax rates. GST Compliance Stricter reporting requirements for certain industries. TDS/TCS Rules Revised timelines…

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

Return Filings

Annual Filings

Change Services

Closure

Special Compliances

Accounting & Payroll

Special

Trademark

Copy Right

Patent

Choosing Between the Composition and Regular Schemes under GST: A Comprehensive Guide

GST Compliance Checklist for FY 2025-26

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule

Clarifications on GST Rates and TDS Provisions for Specific Goods, Services, and Partner

Eligibility to be a Member of a One Person Company (OPC) in India

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5

Half-Yearly Return Mandated for Delayed Payments to MSMEs

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025

WhatsApp Chats Expose Rs 200 Crore Tax Evasion: FM Nirmala Sitharaman Justifies New Tax Bill

Key Clarifications on Finance Bill 2025 – Supplementary FAQs Released

Business Registration

Registration

Licenses

Accounting & Tax

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

Return Filings

Annual Filings

Change Services

Closure

Special Compliances

Accounting & Payroll

Special

Trademark

Copy Right

Patent

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