How much do payroll services cost for small businesses?

The cost of payroll services can vary depending on the features you need and the size of your business. On average, most small businesses can expect to pay between $20 and $200 per month for payroll services

Can payroll services handle tax filing?

Yes, most payroll services automatically handle federal, state, and local tax filings, ensuring compliance with tax laws.

Is it better to outsource payroll or manage it in-house?

Outsourcing payroll saves time and reduces the risk of errors. It is often more cost-effective for small businesses to outsource payroll rather than hiring a full-time staff member to manage it in-house.

Can payroll services handle benefits administration?

Many payroll services also offer benefits administration, helping small businesses manage health insurance, retirement plans, and other employee benefits.

What happens if payroll errors occur?

If errors occur, most payroll services offer guarantees and will correct the mistake and handle any penalties resulting from their error.

Can I use payroll services for both full-time and part-time employees?

Yes, payroll services can handle payments for all types of employees, including full-time, part-time, and contract workers.

Applicability of GST on Resale of Motor Vehicle

This Article explains you what are the GST implications on resale of Motor Vehicle by a registered dealer who doesn’t deals in sale and purchase of Motor Vehicles. It means we will explain GST implications when a motor vehicle is sold or transferred by a business to another business or individual.

Here we need to keep note of Margin scheme for valuation of Capital Goods

The benefit of this scheme can be taken by a Registered dealer who is not

Fixed assets are the assets or things purchased for the purpose of long-term business use.

After this process, you will receive your Social Security Number within 2 to 3 weeks. The documents will be mailed to you at the provided mailing address.

Meaning of Capital Goods– As per section 2(19) of CGST Act, Capital goods mean goods, the value of which is capitalized in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business.

The scheme was introduced on 25^th January 2018 vide Notification No. 8/2018 – Central Tax ( Rate)

As per the Notification in case of resale of Motor Vehicles by a Registered Dealer who satisfies the above mentioned conditions GST @ 18% will be applicable on the Margin earned on the sale of Motor Vehicle

Margin = Sale Price of Motor Vehicle Less Written Down Value of the Motor Vehicle as per

Income Tax Act 1961

It is important to note that the Sale price of the Motor Vehicle should be justifiable in case the Department needs a clarification . We advise that before going ahead with this kind of transaction 3 sale price quotes should be taken for the specific Motor Vehicle from Car Resale dealers and then the Sale price should be freezed.

This scheme offers much relief to corporates who intend to reduce their assets base and increase liquidity by disposing off the motor vehicles which are no longer required to be used by the business.