Capital Wealth

What is P2P Lending? Peer-to-Peer Lending or P2P Lending, as it is popularly known, is a method of debt financing that enables individuals to borrow and lend money without the use of an official institution as an intermediary. It removes the middleman from the process but also involves more time, effort, and risk than the general brick-and-mortar lending scenarios. Companies offering Peer-to-Peer lending services generally operate online, and so they can run with low overhead costs and provide the service more cheaply than traditional financial institutions. As a result, lenders can earn a higher rate of interest on their investment, and borrowers can borrow money at a lower interest rate, than those provided by banks or NBFC’s. How does P2P lending work? Companies offering P2P lending services operate online, and so, one has to register on the website of a P2P lender as a lender or a borrower. The company then undertakes a comprehensive verification process based on your personal, fin...

GST Audit Audit under GST is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST. A) Audit by Registered Dealer - Rule 80 and Section 35(5) of CGST Act, 2017 Every registered dealer whose turnover during a financial year exceeds the Rs 2 crores has to get his accounts audited by a CA or a CMA.  He shall electronically file: an annual return using the Form GSTR 9 by 31st December of the next Financial Year, ( Due date for filing GSTR-9, GSTR-9A and GSTR-9C is extended till 31st March 2019 by CBIC for FY 2017-18 ) the audited copy of the annual accounts, a certified reconciliation statement in the form GSTR-9C , reconciling the value of supplies declared in the return with the audited annual ...