Moneyम्जी Khazaana

Is Bitcoin safe?

Is investment in Blockchain or Bitcoin safe?

Blockchain is the future of finance. Blockchain is a revolution. Blockchain will disrupt the industries and sectors.

Wow, awesome! But, what is it that is causing such crazy hype?! Is investment in Blockchain or Bitcoin safe?

Let’s understand the basic terms first. Continue reading “Is investment in Blockchain or Bitcoin safe?”


All about GSTR 3B, the shock absorber for GST regime

GST was introduced on July 1. But were people ready to file returns? It takes time to adapt to any sudden change. But, progress should be there. Right? This Form GSTR 3B is a shock absorber towards the sudden change GST brought in.  Continue reading “All about GSTR 3B, the shock absorber for GST regime”

claim gst input credit

How To Claim GST Input Credit : Conditions To Be Satisfied

What Is GST Input Credit?

First of all, let us know what is GST Input Credit. Well, GST Input credit is nothing but a balance of the amount of tax you paid at the time of purchasing goods that is kept safe until you pay your tax for your output. Now, when you pay your tax of output, automatically the previous balance amount kept safe for you will automatically be used and your total tax to be paid will get reduced. We will also discuss how to claim GST input credit but before that, let’s understand by an example how this thing actually works

Example: Suppose X bought goods for Rs 100 and paid Rs 18 additional as GST(Total: Rs 118). Now X sold goods to Y for Rs 200 and charged GST of Rs 36(Total : Rs 236). Now, X can claim GST input credit of Rs 18 that he paid at the time of purchases while paying tax to the government. (i.e net GST, X need to pay is only Rs 18).

Continue reading “How To Claim GST Input Credit : Conditions To Be Satisfied”

gst input credit

Complete Guide : Will I Get The GST Input Credit Or Not?

Complete Guide : Will I Get The GST Input Credit Or Not? 

GST has been welcomed with all the pomp and show, and deservingly so. It has inherent advantages. We all know that amount paid as GST on purchases or even expenses can be claimed as GST input credit. This was not possible in the earlier regime of VAT and Service Tax. 

Example: If you were dealing in sale of goods where VAT was chargeable and had paid service tax for availing service of Chartered Accountant, you could not avail the credit of service tax paid to your CA against payment of VAT. This is now possible under GST since there is no difference in tax on goods or services. Now, if your VAT payable on goods sold is Rs 30,000, and if you availed services of a CA and paid GST of say, Rs 18,000, then you will get a GST input credit of Rs 18,000 against payment of Rs 30,000 GST payable. Hence, you net GST payable will be Rs 12,000 only.

Woaahh, what a relief to an entrepreneur. But, but, but, there is little sad news, just little.

There are certain expenses, on which credit will not be allowed.

Continue reading “Complete Guide : Will I Get The GST Input Credit Or Not?”

Non Resident

Tax Authorities want Non Resident Indians to disclose foreign bank details

Non Resident Not ‘Devo Bhavah’!

The tax department has dropped a bombshell on Non Resident Indians (NRIs) and Foreign Nationals quietly.
Non residents, who avoided disclosure of their income parked outside India by maintaining the status of Non Residents will not be able to do so now onwards. As per existing laws, income earned outside India are not taxable in the hands of a Non Resident. Neither is the NR required to disclose his foreign source assets in his tax return. Continue reading “Tax Authorities want Non Resident Indians to disclose foreign bank details”


GST Rules And Guidelines : Do’s And Don’ts (Format Attached)

GST Rules And Guidelines :  Do’s And Don’ts (Format Attached)

GST (Goods and Service Tax) is a tax levied when a consumer buys a goods or services. The main aim of introducing GST is to bring all the taxes in a single umbrella. This bill helps to eliminate the cascading effect of taxes on production, distribution prices on goods & services. Goods & service tax refers to indirect tax which replaces taxes levied by the central & state government.
GST bill abolish indirect taxes like VAT, Service tax, excise, octroi. This post will brief you about GST Rules and guidelines and what you should do and what you shouldn’t

Rules & Guidelines

Continue reading “GST Rules And Guidelines : Do’s And Don’ts (Format Attached)”

Register a company in india

How To Register A Company In India : Full Startup Guide

Do you have an idea and ready to convert that idea into reality? You are at the right place then, this post will guide you about all the essential things you need to know about company formation followed by step by step procedure to register a company in India. To register a company in India, is no more a complex and tedious task now. Government of India is actively working to make it easier for people to convert their ideas into business with no hectic and long procedures like it used to be earlier.

This post will guide you about:

1. Prerequisites to register a company in India

2. How to choose the type of company formation

3. How to register the chosen company form

4. Opening a bank account

5. How to kick start and manage business after formation

Continue reading “How To Register A Company In India : Full Startup Guide”

Impact of GST rates on your Household Budget; Who won, who lost?

Yes yes, GST rates are here! India has cleared the way for the biggest tax reform since independence in 1947.

The main beneficiaries of the new goods and services tax, due to be rolled out on July 1, include steelmakers and some consumer goods.

  • The food items which currently attracted an average of 12.5% tax under VAT laws will now be taxed at 5% under the new regime.
  • Entertainment activities, household and personal care products will become cheaper under the upcoming regime.
  • 18% tax slab for telecom, financial services.
  • Service tax on non-AC hotels will be 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
  • Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.

Continue reading “Impact of GST rates on your Household Budget; Who won, who lost?”

Company Incorporation

Now, Company Incorporation Is Just A One Day Process

Half a day is all you need to get into business. As per the Ministry of Corporate Affairs,  which is leaving no stone unturned to improve the ease of doing business, it will now become possible to reduce the time to reserve the name of company to half a day, and company incorporation in one third of a day.

As per the Ministry’s website, simplified procedures and a reduction in time and fees, through the successful implementation of e-governance initiatives such as the MCA21 portal and SPICe (Simplified Proforma for Incorporating Company Electronically) forms, will make this feasible.

Continue reading “Now, Company Incorporation Is Just A One Day Process”