Questions, answered by practising CAs

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Both, and the clock started the month you reached 20.

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No. Since 1 January 2022, section 16(2)(aa) read with rule 36(4) allows input tax credit only for invoices that appear in your GSTR-2B. A valid invoic...

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This is a long-term gain (held more than 24 months) and, because you bought before 23 July 2024, you get to choose the lower of two computations.

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If a funding round is realistically on the roadmap, incorporate a private limited company from day one.

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Everything below applies even with zero revenue; the Companies Act does not have a dormant-by-default state.

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Not at this rent. From 1 April 2025 the threshold under section 194-I rose from ₹2.4 lakh to ₹6 lakh a year. ₹45,000 a month is ₹5.4 lakh, so no deduc...

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Run the numbers both ways; with your figures the new regime still wins, but it is closer than most people expect.

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Yes, you need to register, and the reason is not the turnover limit but the nature of the sales.

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Short answer: you must register once your aggregate turnover crosses ₹20 lakh in a financial year, and even then you will not charge your US clients G...