Year: 2025

Understanding GST on the Sale of Old Cars in India The Goods and Services Tax (GST) framework in India has specific provisions for selling old and used cars. Recent updates have introduced changes impacting businesses and individuals involved in such transactions. GST Rates on Used Cars As of December 2024, the GST Council has standardized […]

Revolutionize Your Business Finances: How Corporate Genie’s Virtual CFO Services Drive Growth and Profitability Corporate Genie offers Virtual CFO services to support businesses in managing their financial operations and strategy without the need for a full-time, in-house CFO. This service is particularly beneficial for small and medium enterprises (SMEs), startups, and growing businesses that need […]

Understanding Section 2 of the Indian Contract Act, 1872 Contracts form the backbone of business and legal relationships. But have you ever wondered how the Indian Contract Act defines a contract? Let’s simplify Section 2 of the Indian Contract Act, 1872, with relatable examples:- 1. Proposal (Offer)-(Section 2(a) When one person expresses a willingness to […]

Empower Yourself with the Right to Information (RTI) Act Transparency and accountability are the cornerstones of good governance. The Right to Information (RTI) Act, 2005, empowers every Indian citizen to access information from public authorities, ensuring a brighter, more transparent future. Why RTI Matters: Access to Information: Seek answers from public authorities within 30 days. […]

Understanding the Backbone of Business: Contract Law Contracts are the foundation of every successful business relationship. Whether it’s a handshake deal or a meticulously drafted document, understanding the principles of Contract Law is essential. Here are the key features that make a contract enforceable: Offer and Acceptance: One party proposes, the other agrees — the […]

Litigation issue involves Rental Income Under Section 9(3) and 9(4) of the Central Goods and Services Tax (CGST) Act, 2017, the Reverse Charge Mechanism shifts the liability to pay GST from the supplier to the recipient of goods or services. While typically the supplier collects and remits GST, RCM is applied to ensure tax compliance […]

Drive into Savings: Unlock Tax Benefits with Section 80EEB for Electric Vehicles As India takes significant strides towards sustainability and reducing its carbon footprint, the government had already introduced several tax benefits and incentives to encourage the adoption of electric vehicles (EVs). One such provision is Section 80EEB of the Income Tax Act, which provides […]

HSN Code Overhaul: What the New GSTR-1 Rules for 2025 Mean for Your Business The Goods and Services Tax (GST) framework in India is constantly evolving, and one of the key aspects of compliance is the accurate reporting of HSN (Harmonized System of Nomenclature) codes in the GSTR-1 form. As of 2025, new rules have […]

Recent Updates in the RoDTEP Scheme: Key Changes Exporters Need to Know The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme has undergone several significant updates to enhance its effectiveness and align with current trade policies. Key recent changes include: 1. Extension of the RoDTEP Scheme: The Directorate General of Foreign Trade (DGFT) […]

Steps to Withdraw Shares from the Investor Education and Protection Fund (IEPF) To reclaim shares from the Investor Education and Protection Fund (IEPF) in India, follow these steps: 1. Verify Eligibility: Confirm that your shares were transferred to the IEPF due to unclaimed dividends. You can check this by visiting the IEPF website or contacting […]