SOLUBILIS

  Definition of Supply: Under GST, the term 'supply' is widely defined to include all types of transactions involving goods and services, such as sale, transfer, barter, exchange, licensing, rental, leasing, or disposal. These transactions must be made or intended to be made for a consideration by a person in the course or furtherance of their business. This comprehensive definition is crucial as GST is levied on the supply of goods and services. Key Elements of Supply: 1) Consideration, 2) Business Purpose, 3) Taxable Event. Let’s see in detail 1. Consideration Importance: The existence of consideration is a key factor that determines whether a transaction qualifies as a supply under GST. Even if the payment is deferred or made through a different medium, the transaction is still considered a supply as long as there is a reciprocal relationship between the supplier and the recipient. Exceptions : Certain transactions are considered supp

  A trademark is a symbol, word, or phrase legally registered or established by use as representing a company or product. It protects the intellectual property rights of businesses, ensuring that their brand identity is secure and distinct from competitors. While the process of trademark registration offers numerous advantages, not everyone is eligible to apply for a trademark. Those who lack a legitimate interest, such as applicants registering marks for fraudulent purposes or without intent to use them, cannot apply for a trademark. Marks that are identical to existing ones, offensive, deceptive, generic, or misleading about the product’s origin or quality are also ineligible, as are government symbols or marks violating public order or morality. Let’s explore in detail. General Overview of Trademark Eligibility To understand who cannot apply for trademarks, it’s essential first to recognize who can. In general, any individual or legal entity, such as a corporation or partn

  A Limited Liability Partnership (LLP) is a popular business structure in India, combining the benefits of a partnership and a private limited company. While the operational flexibility and limited liability protection attract businesses to form LLPs, it’s crucial for partners to be aware of their tax obligations. Understanding the tax limit and related aspects for LLPs ensures smooth financial management and compliance with Indian tax laws. For the Assessment Year 2024-25, a Partnership Firm, including an LLP, is taxed at a flat rate of 30% on its income, applicable across all income levels, excluding surcharge and cess adjustments. This article will explain in detail the tax limit for LLPs, covering income tax rates, exemptions, deductions, and additional tax-related factors, with a focus on LLP registration in Coimbatore . Basic Tax Structure for LLPs: Flat Income Tax Rate: LLPs are subject to a flat tax rate of 30% on their total income. For LLPs with total income exceed