How much does GST registration cost?

  Under the Goods and Services Tax (GST) framework, the term 'supply' is broadly defined to cover all types of transactions involving goods and services, such as sale, transfer, barter, exchange, licensing, rental, leasing, or disposal. For a transaction to qualify as taxable under GST, it must be made or intended for consideration in the course of business. This definition is vital as GST is levied on the supply of goods and services. Key Elements of Supply Consideration Definition : For a transaction to be taxable under GST with GST registration in Coimbatore , it generally must involve consideration (either cash or kind). However, certain specified supplies, such as transfers of business assets or services between related parties, may still be taxable without consideration. Importance : Consideration is essential for determining if a transaction is a supply. Even if payment is deferred or made in another form, the transaction...

  A Limited Liability Partnership (LLP) is a hybrid entity that combines features of both a partnership and a company.   With a limited liability partnership, one enjoys the flexibility of a partnership, yet at the same time, they enjoy the advantages of limited liability where personal liability in respect of all or any of the debts of the LLP remains greatly minimized. This business entity would be most appealing to professional service providers like lawyers, accountants, and consultants. One of the frequently asked questions has to do with whether an LLP can indeed be set up by just one person. Let us get into that for more light. Requirements for Forming an LLP Two or More Partners: Traditional structures of LLP require at least two partners to establish the entity. This is among the very basic requirements because LLPs are formed with the notion of having a partnership where multiple persons or entities come together in collaboration. Registration: LLPs shall be dul...