Author - Abhinandan Sethia

Process of claiming refund of GST on export electronically

Here, I aim to discuss the new procedures around claiming refund of GST for businesses engaged in export of goods or services. Earlier due to the unavailability of electronic fund module on common portal, a temporary mechanism was devised and implemented wherein applicants were required to file the refund...

Why & How to register under MSME

MSME stands for Micro, Small, and Medium Enterprises. In accordance with the Micro, Small, and Medium Enterprises Development (MSMED) Act in 2006, the enterprises are classified into two divisions. Manufacturing enterprises – engaged in the manufacturing or production of goods in any industry and Service Providers. For these small-scale industries,...

How to file GST returns for online business?

The trend of selling goods & services online has seen a boost like never-before. It is convenient & economical to sell online and one could take up this business even along-with their ongoing profession/business or Job. The government has also realized the potential of the online ecosystem and that is...

How to choose between the new & old Income tax regime for FY 2020-21

The Union budget 2020 has introduced new income tax regime in India for Individual taxpayers with reduced rates (and increased twists). We will discuss about the following in this article: What’s there in the income tax old regime and new regime? What are the conditions to avail it and who...

Income Tax Implication on F&O (Futures & options) transactions & Intra-day trading

This article is about how trading in derivatives(F&O) and intra-day trading is to be treated under the Income tax, i.e. the income tax implications on F&O (future & options) trading We will briefly discuss the following: 1. Basic understanding of the concept 2. Computation of income- F&O & intra-day trading 3. Calculation of...

Company Fresh Start Scheme 2020- one time opportunity

There’s no better time for the defaulting companies than this. The Ministry of Corporate Affairs decided to give all the defaulting companies another chance to regularize company compliance without late fees irrespective of the delay duration. Further, as per the notification on MCA website, relief is also being given to...

Are doctors required to register under GST?

This article deals with the question- whether GST registration for doctors is required ?The health care sector is one of the biggest sectors in India, is regulated by the Indian Medical Association (IMA). Doctors, apart from engaging themselves in healthcare services by working as doctors and consultants in hospitals, or...

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