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TaxQue provides comprehensive advisory and execution across Goods and Services Tax (GST), Income Tax Returns (ITR), corporate legal filings with the Ministry of Corporate Affairs (MCA), Trademark registration, and bookkeeping. Below are answers to key statutory questions frequently asked by Indian business founders and taxpayers.
For suppliers engaged exclusively in the supply of goods, the aggregate turnover threshold is ₹40 lakhs (₹20 lakhs for special category states). For service providers, the mandatory registration threshold is ₹20 lakhs (₹10 lakhs for special category states). Persons making inter-state taxable supplies must register irrespective of turnover.
For corporate entities subject to statutory tax audit under Section 44AB, Income Tax Returns must be furnished by October 31 of the assessment year. Annual financial statements (Form AOC-4) must be filed with the ROC within 30 days of the AGM, and Annual Returns (Form MGT-7) within 60 days of the AGM.
No. Under Section 16(2)(aa) of the CGST Act, Input Tax Credit cannot be claimed unless the supplier has furnished invoice details in their GSTR-1/IFF and such details have been communicated to the recipient in Form GSTR-2B.
Directors must provide PAN cards, identity proof (Voter ID/Passport/Driving License), address proof (Bank Statement/Electricity bill under 2 months old), DSC, and registered office address proof (Electricity bill with NOC from the owner).
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