When starting a business, entrepreneurs must choose the most suitable structure for their venture. Two popular forms of business entities under the Companies Act are One Person Company (OPC) and Private Limited Company (PLC). Each has its unique features, benefits, and compliance requirements. This article provides a detailed comparison of the two structures, highlighting their…
The 55th GST Council meeting brought significant changes to the taxation structure for hotels and restaurants. By addressing long-standing concerns over the application of GST rates and streamlining the process, these changes are expected to provide much-needed clarity and relief to the hospitality sector. Let’s delve into the details of the Council’s decisions and their…
The Central Government, in exercise of the powers conferred by Section 148 of the Central Goods and Services Tax (CGST) Act, 2017, has introduced a special procedure for rectification of orders pertaining to wrong availment of Input Tax Credit (ITC). This notification is targeted at a specific class of registered persons who have been issued…
1. Introduction The US Federal Reserve (Fed) plays a critical role in managing the economy of the United States and, by extension, influencing the global financial system. One of its most powerful tools is the Federal Funds Rate, commonly referred to as the Fed Rate. This rate affects everything from the cost of borrowing money…
Introduction The Andhra Pradesh High Court recently ruled in the case of Somaprasanth Karampudi v. Union of India and Others (Writ Petition No. 14969/2024) regarding the service of notice under the GST Act. This ruling clarifies key issues regarding how notices must be served when the GST registration of a taxpayer has been canceled. The…
