Business ideas with higher risk.

[anshul2k]

Any business ideas with high risk high reward?

 

[Tejo]

Options Trading ...

 

[anshul2k]

Options Trading ...

Something that gets me a GST number with profit being booked on it, so that I can claim GST on my regular bills

 

[Slayer]

so that I can claim GST on my regular bills

Same needs .

 

[Tejo]

Something that gets me a GST number with profit being booked on it, so that I can claim GST on my regular bills

Same needs .

Claiming GST on pure personal expends is consider as Tax evasion ....

Not paying tax might not be a serious crime.

But Tax evasion is a pure crime .... business damage, jail, penality, freeze ..............

 

[anshul2k]

Claiming GST on pure personal expends is consider as Tax evasion ....

Not paying tax might not be a serious crime.

But Tax evasion is a pure crime .... business damage, jail, penality, freeze ..............

@Tejo
There are ways of doing this legally 🙂
And such things will not fall into tax evasion even if ITR department' scrutiny is done.

For example: you can purchase a Car for business needs, and also use that for personal needs when required.

You can probably study more about taxation laws before making such statements on public forums?
In simple words, there are multiple personal needs that fall in with the business needs, instead of buying them as personal goods, you can buy such things for your business (ex; a laptop to manage all your business?)

 

[Tejo]

@Tejo
There are ways of doing this legally 🙂
And such things will not fall into tax evasion even if ITR department' scrutiny is done.

For example: you can purchase a Car for business needs, and also use that for personal needs when required.

You can probably study more about taxation laws before making such statements on public forums?

Also take opinion of GST depart. person, CA, lawyer .... then give, such a statement on a search engine indexed private domain ... forum

The things which taste bitter are not bad for health and the things which sweet for you are not good for health @anshul2k

 

[anshul2k]

Also take opinion of GST depart. person, CA, lawyer .... then give, such a statement on a search engine indexed private domain ... forum

One must also take self-opinion before making such statements.
I highly suggest you, watch taxation videos from CA Sahil Jain:

You can even watch the entire playlist on GST taxation before making such bold statements, it will prevent you from tagging the entire universe (GST depart, CA, lawyers...)

 

[habibmy]

@Tejo
There are ways of doing this legally 🙂
And such things will not fall into tax evasion even if ITR department' scrutiny is done.

For example: you can purchase a Car for business needs, and also use that for personal needs when required.

You can probably study more about taxation laws before making such statements on public forums?
In simple words, there are multiple personal needs that fall in with the business needs, instead of buying them as personal goods, you can buy such things for your business (ex; a laptop to manage all your business?)

Is Input Tax available on car???
Section 17(5) talks about blocked credit and thereby disallows ITC on certain motor vehicles. ITC is not available on motor vehicles used for transport of persons with a seating capacity of less than or equal to 13 persons including the driver.
Even if you buy a car purely for business use, You cannot claim ITC if it has less than 13 seats.