GJM & Co.

  GST on Rental Property – A Quick guide!   Goods & Service Tax implementation in India has crafted a new way to collect indirect taxes from various industries.   The rental industry, is a common income source for many individuals, families or business houses for decades.   In this article, we shall try to simplify the implication of GST on commercial and residential properties. Pre-GST Era: So before GST came into picture, India had the Service tax regime and accordingly Commercial properties would attract 15% Service tax if the landlord’s total receipts from all his let out properties exceeded Rs 10 Lakhs (Rs 1 Million). Service tax was not applicable to residential properties let out for residential purpose.   If a residential property was let out for commercial purposes (wholly or partly) or to any business entity (irrespective of how it was used) service tax would be applicable. Post GST: Well the rules haven’t changed much with GST implementati...

  Significance of Cyber Security for CPA/CA Firms With the sudden evolution of the Covid-19 virus across the globe, we have been hearing the Covid-19 era giving rise to a new normal of doing things.   As the virus continues to fan in and out, our work environment is moving towards a digital transformation.   With this, cybercrimes and vulnerabilities of cyber scenery are and will increase in times to come.   Security lapses in video conferencing tools alongside malware and ransomware attacks on digital systems have grown.   The sudden thrust towards this digitization has increased the risk for the non-seasoned computer user drastically as well.   Statistics reflect that global cost of cybercrime will be in trillions in times to come.   It is perceived as a great threat to humanity than nuclear or virus attacks.   It is imperative that CPA or CA firms should be better equipped for such cybercrimes more now than ever as its prevention is a busines...