GST Input Tax Credit Restrictions: Understanding Section 17(5)

Finance2 months ago

Source: GST Input Tax Credit Restrictions: Understanding Section 17(5)

Under GST, the Input Tax Credit (ITC) mechanism enables businesses to offset taxes paid on inputs against output liability, ensuring seamless tax flow and working capital efficiency. However, to prevent misuse, Section 17(5) of the CGST Act, 2017 outlines cases where ITC is blocked—termed as "Blocked Credit." These disallowances apply even when purchases are for business use. Blocked credit provisions serve as safeguards against revenue leakage and ensure the correct application of ITC.

GST on Advance Payments

Business2 months ago

Source: GST on Advance Payments

GST on Advance Payments refers to the tax liability that arises when a business receives payment before supplying goods or services. Under GST law, tax is payable on advances received for services, but not typically for goods, unless specifically notified. When an advance is received, the supplier must issue a receipt voucher and pay GST at the applicable rate.

WPC ETA Certification

Business2 months ago

Source: WPC ETA Certification

WPC ETA stands for Wireless Planning and Coordination Equipment Type Approval. It is a mandatory certification for importing or selling products in India that operate on unlicensed radio frequency bands, such as Bluetooth devices, Wi-Fi routers, wireless keyboards, RFID systems, and drones. The WPC ETA certificate confirms that the device complies with the frequency bands approved by the Indian government.

CDSCO Registration under The Drugs & Cosmetics Act 1940

Business2 months ago

Source: CDSCO Registration under The Drugs & Cosmetics Act 1940

India’s healthcare and pharma sectors are among the fastest-growing globally, with a strong focus on the safety, quality, and efficacy of drugs and medical devices. CDSCO registration, governed by the Drugs & Cosmetics Act, 1940, plays a vital role in this. CDSCO (Central Drugs Standard Control Organization), under the Ministry of Health & Family Welfare, is the national regulatory authority for drugs and medical devices in India.

CDSCO Registration in India

Health2 months ago

Source: CDSCO Registration in India

CDSCO registration is not a simple process, but yes, it would be simple if proper knowledge is gained in CDSCO documents and guidelines and one goes by a systematic process. We are an Indian manufacturer or foreign manufacturer with ambitions in the Indian market, the correct CDSCO license or CDSCO import license is the beginning to abide by the law and a lucrative business in the long run.

India’s Manufacturing Advantage: A Strategic Opportunity for Global Investors

Finance2 months ago

Source: India’s Manufacturing Advantage: A Strategic Opportunity for Global Investors

India is rapidly positioning itself as a global manufacturing hub, attracting foreign investors seeking long-term growth, efficient operations, and broad market access. While China has long dominated the sector, shifting dynamics now place India in the spotlight. Backed by robust government initiatives like Make in India, PLI schemes, and business-friendly reforms, the country is transforming from a low-cost outsourcing base to a value-driven industrial powerhouse.

Why AERB Registration Is a required for X-Ray Equipment in India ?

Finance2 months ago

Source: Why AERB Registration Is a required for X-Ray Equipment in India ?

The Atomic Energy Regulatory Board (AERB) ensures that ionizing radiation is used safely and responsibly. Whether you're a diagnostic center, hospital, dental clinic, or veterinary facility, obtaining an AERB Certificate is crucial for: 1 Ensuring radiation protection for patients, operators, and the public 2 Complying with Atomic Energy Act, 1962 3 Avoiding penalties, legal notices, or closure 4 Ensuring your X-ray equipment meets safety and quality standards

ROC Compliance Requirements for Unlisted Companies in India

Finance2 months ago

Source: ROC Compliance Requirements for Unlisted Companies in India

In India, running a company means not just innovating or earning profits, but also ensuring compliance with legal requirements. Whether it's a Private Limited, Unlisted Public, OPC, or Section 8 Company, all must follow annual obligations under the Companies Act, 2013—commonly called ROC Compliance. This involves filing forms and disclosures with the Registrar of Companies (ROC), a wing of the Ministry of Corporate Affairs. Non-compliance can lead to penalties, loss of credibility.

Loans to Company Directors: A Legal and Ethical Framework

Finance2 months ago

Source: Loans to Company Directors: A Legal and Ethical Framework

In the business world, loans to directors are a sensitive issue governed by strict legal scrutiny. Section 185 of the Companies Act, 2013, regulates such transactions, ensuring companies don't misuse funds or enable conflicts of interest. Any loan, guarantee, or security offered to directors or their related entities is closely monitored to prevent abuse of power. While the law initially imposed a complete prohibition, later amendments introduced exceptions—especially for private companies.

A Guide to Compensation to Director in Indian Corporates

Finance2 months ago

Source: A Guide to Compensation to Director in Indian Corporates

Director compensation in Indian corporates is governed by the Companies Act, 2013. It includes salary, commission, sitting fees, stock options, and other perks. For executive directors like MDs or CEOs, remuneration must align with limits under Schedule V unless approved by shareholders. Independent and non-executive directors usually receive sitting fees and profit-based commission. Public companies must disclose director pay in board reports.