GST Number: an Overview GSTIN is a 15-digit unique identification number based on a PAN that is provided to each GST registered person.
For example, a sole proprietorship is the easiest to file, but has the most personal liability. LLCs relieve you of many personal liabilities, but can come with hefty tax payments. A great place to start is by reviewing your options via the U.S. Small Business Administration’s business ...
Directorate General of Foreign Trade has started operationalising online filing of Importer Exporter Code (IEC) applications, online processing and issue of e-IECs in digital format. Now new entrepreneurs/exporters/importers can apply online for issue of new IEC from the comfort of their home/IT K...
Entrepreneurs are legally required to obtain an EIN immediately after registering their business (assuming they're not a one-man business). They also need to apply for a state tax ID number, such as a Texas taxpayer number. Tax obligations vary among states, which is why it's important to ...
Depending on what your business does, you might need to apply for certain licences. Make sure you’re clear on any permits needed based on the niche you’re working in - you can’t trade without having all your paperwork lined up. Another important thing to consider is GST8. If you exp...
Understanding Singapore's tax system is crucial for business owners. Key taxes to be aware of include: Corporate Income Tax:Singapore has a competitive corporate income tax rate, currently capped at 17% of chargeable income. Goods and Services Tax (GST):GST is a consumption tax lev...
Once this is done, you also need to legally form a sole proprietorship/partnership firm/company before your venture can take off. 2. Get a Permanent Account Number (PAN) All export and import business owners need to obtain a PAN from the Income Tax Department. To start your online PAN ...
Sole Proprietorship Partnership Corporation For those just starting out in ecommerce, sole proprietorship is best. This option allows you to operate your business under your own name without the need for a business license. This allows you to apply for a Business number from the CRA (Canadian Re...
Obtaining a PAN (Permanent Account Number) and GST (Goods and Services Tax) registration is also crucial to comply with government regulations and ensure smooth business operations. Finally, applying for insurance coverage for the business and employees can protect against potential risks and liabilities...
Most transactions by a businessperson in Japan, whether a corporation or a sole proprietorship, are subject to consumption tax. This article provides basic information on consumption taxes by explaining the background, the increase, and how to pay them. ...