Drop-shipping is a type of business where the products to be sold are not kept in the store, rather in the drop-shipping model, the products are purchased from the third party and are directly shipped to the customer. As a result, the seller does not have to handle the product directly. The difference between standard… Continue reading
Date Archives → 2020
How & Why to recognize your Business as a Startup
The article explains What is a startup, Process of recognition of a startup, Benefits of recognition as a startup which includes Income tax deduction under Section 80 IAC, an exemption under section 56 of Income Tax Act (Angel Tax Exemption), Intellectual Property Right (IPR) benefits, Relaxation under public procurement norms, Self-certification under labour and environmental… Continue reading
Review of Input tax credit
The GST law aims at providing seamless Input tax credit to the registered persons, which can be claimed by furnishing details of ITC in GST returns. While the missed ITC could be a loss to an entity, an undue or excess claim of ITC could put an entity to a trap of interest, penalty &… Continue reading