by Startup Expert | Jan 29, 2025 | Ownership Basis
Step 1: Understand Your GST Filing Requirements Determine Return Type: Identify which GST returns you need to file based on your business type and GST registration (e.g., GSTR-1, GSTR-3B, GSTR-9). Frequency: Monthly (Regular taxpayers). Quarterly (Small taxpayers...
by Startup Expert | Jan 29, 2025 | Ownership Basis
1. Legal Requirement GST filing is mandated under the GST Act, 2017 for businesses exceeding specific turnover thresholds or meeting other criteria. Non-compliance can lead to penalties, interest, and legal consequences, such as cancellation of GST registration. 2....
by Startup Expert | Jan 29, 2025 | Ownership Basis
1. Key Annual Filings for LLPs LLPs must file the following annual returns: a. Statement of Account and Solvency (Form 8) Declares the financial position of the LLP, including assets, liabilities, and solvency status. Due Date: Must be filed within 30 days from the...
by Startup Expert | Jan 29, 2025 | Ownership Basis, Partnership Registration
1. Legal Validation and Proof of Existence A partnership agreement provides legal evidence of the partnership’s existence, outlining its formation and operations. It is required during registration with the Registrar of Firms or other authorities to formalize...
by Startup Expert | Jan 29, 2025 | LLP Registration, Ownership Basis
1. Minimum Partners At least two partners are required to form an LLP. There is no upper limit on the number of partners. At least one partner must be a resident of India (stayed in India for at least 182 days in the preceding year). 2. Designated Partners A minimum...
