Amit Kumar Singh and Co

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GST (Goods & Service Tax)

What is GST?

Goods and Services Tax (GST) is a comprehensive, indirect tax system introduced in India on July 1, 2017, replacing multiple taxes like VAT, service tax, excise duty, and more.
🔍 Why GST?
Before GST, businesses had to deal with a complex structure of central and state taxes, often leading to double taxation. GST solved this by unifying the tax structure, making it easier to do business and more transparent for consumers.
🧾 Key Features:
Single Tax for the whole country on goods and services.
Destination-Based Tax – collected where goods/services are consumed.
Input Tax Credit (ITC) – allows businesses to claim credit on taxes paid during purchases.

🎥 Watch this video to understand GST in simple terms:

GST has simplified taxation in India—benefiting businesses, customers, and the economy as a whole.
#GST #WhatIsGST #IndianTaxSystem #BusinessSimplified
USA Compliance

📌You Cannot Make Financial Commitment Before ODI

If you’re planning to make an Overseas Direct Investment (ODI) from India, it’s crucial to understand that no financial commitment can be made before obtaining ODI approval and a Unique Identification Number (UIN) from your Authorized Dealer (AD) Bank.

In this video, we explain in simple terms:
✅ What qualifies as a financial commitment under RBI’s ODI regulations
⚠️ Why sending funds, signing contracts, or issuing guarantees before ODI approval can lead to compliance violations
📄 Step-by-step overview of required documentation for ODI
🔁 New changes under the updated ODI framework and how they impact businesses and individual
This is a must-watch for startups, corporates, and individuals looking to invest abroad under the automatic or approval route.

📌 Key Takeaway
You cannot commit funds, sign agreements, or undertake any overseas obligation unless your ODI is filed and acknowledged by the RBI through the UIN system. Stay compliant. Avoid penalties.

Need help with ODI documentation or compliance?
📩 Contact us today for expert assistance.

USA Compliance

How to Fill W-8 & W-9 Forms – Quick Guide for Freelancers & Creators


If you’re an international freelancer, content creator, or business working with U.S. clients or platforms, you’ve likely encountered Form W-8 or Form W-9 at some point. Understanding and filling these forms correctly is crucial for compliance, avoiding unnecessary tax deductions, and receiving payments smoothly.
In my recent YouTube video, I’ve explained how to correctly fill both W-8 and W-9 forms step by s
USA Compliance

W-8 vs. W-9 Forms | Key Differences Explained

Confused about the difference between IRS Form W-8 and Form W-9? This video breaks down the key distinctions between these two important tax documents. Whether you’re a U.S. business working with foreign contractors or an international freelancer providing services to American companies, understanding which form to use is essential. Learn who should file each form, when they’re required, and how they impact tax reporting and withholding. Perfect for freelancers, small business owners, and financial professionals.
Income Tax

New Income Tax Regime for FY 2025-26

The Indian government has revised the income tax slabs under the new tax regime, bringing significant relief to taxpayers! ✅

🔹 Key Highlights:
✔ Non-taxable income limit increased from ₹7,00,000 to ₹12,00,000.
✔ Standard deduction of ₹75,000 makes income up to ₹12,75,000 tax-free for salaried individuals.
✔ Revised tax slabs offer better tax benefits across different income levels.

This move aims to reduce the tax burden on individuals and boost economic growth. 📈

Overseas Business Compliance

Understanding ODI Compliance for Indian Businesses

As Indian businesses expand beyond borders, compliance with Overseas Direct Investment (ODI) regulations under FEMA becomes critical. The Reserve Bank of India (RBI) has established a structured framework to ensure transparency and accountability in foreign investments.

🔹 Why is ODI Compliance Important?
Proper ODI compliance ensures that Indian businesses operate within legal boundaries, maintain financial discipline, and avoid regulatory scrutiny. It also helps in smooth capital movement and fosters investor confidence.

🔹 Key ODI Compliance Obligations:
✅ Form ODI – Mandatory filing for investments in foreign entities.
✅ Annual Performance Report (APR) – To be submitted to RBI for monitoring overseas investments.
✅ FCGPR & FCTRS – Reporting foreign investments and share transfers involving Indian entities.

🔹 Non-Compliance: The Risks
Failure to comply can lead to penalties under FEMA, potential disqualification from future investments, and reputational damage. RBI has been tightening its oversight, making adherence to these norms more crucial than ever.

📌 Takeaway: ODI compliance is not just a regulatory requirement but a strategic necessity for global expansion. Stay compliant, stay ahead!