Did you know India’s e-commerce market is expected to reach US$99 billion by 2024? This makes India the second-largest e-commerce market, just behind the US. As the digital market grows, so does the need for tax compliance. The GST registration process for e-commerce operators is now essential for legal and smooth business operations. The Central Board of Excise & Customs (CBEC) has set up special rules for e-commerce GST registration. This is because the sector is growing fast and has complex tax issues. If you sell online or plan to start an e-commerce business, knowing these rules is crucial for your success. Now, e-commerce business tax compliance is a must. Section 24 of the Central Goods and Services Tax Act, 2017 requires all e-commerce operators to register for GST. This includes collecting a 1% tax on each transaction, except for exempted goods and services. As an e-commerce operator, you must collect Tax Collected at Source (TCS) at a maximum rate of 1% on the ne...
Are you a private company in India facing the challenge of moving from physical share certificates to dematerialized securities ? The Ministry of Corporate Affairs (MCA) has made it mandatory for most private companies to go digital. This guide will help you understand dematerialization, its benefits, and how to convert your shares into electronic form. The MCA’s move aims to strengthen the securities market and prevent fraud. By September 30, 2024, private companies with a certain capital and turnover must have all shares in dematerialized form. This rule applies to all shares, including those held by key people. Dematerialization, or demat, turns physical share certificates into electronic ones. These are kept in a demat account with a Depository Participant (DP). This change offers many benefits, like better security, easier transfers, and less risk of loss or damage. Key Takeaways: Private companies with a certain capital and turnover must dematerialize their shares by Septem...