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— Taxation & Compliance

Service Tax & TDS is Important for Everyone

Higher threshold for registration?

GST is a comprehensive indirect tax that was designed to bring indirect taxation under one umbrella. More importantly, it is going to eliminate the cascading effect of tax that was evident earlier. Cascading tax effect can be best described as ‘Tax on Tax’. Let us take this example to understand what is Tax on Tax.

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Bridging the Gap

Due to varied reasons, students who have graduated freshly out of college, as well as those who have earned a year or 2 experiences in their respective education field are unable to find a job for themselves. This has led to a huge gap between the firms and talents. We plays a crucial role in linking the needy with the needful. They help in assisting individuals in finding right job which does justice to their area of study and expertise. In addition, they assist companies to find the right employee for their firm by initializing all the process usually carried out by the firms and forwarding the profiles of those who perfectly fit the bill.

Service Tax & TDS Payment

Earlier, in the VAT structure, any business with a turnover of more than Rs 5 lakh (in most states) was liable to pay VAT. Please note that this limit differed state-wise. Also, service tax was exempted for service providers with a turnover of less than Rs 10 lakh. Under GST regime, however, this threshold has been increased to Rs 20 lakh, which exempts many small traders and service providers.