E-Governance, Financial, Healthcare, Insurance Services - Alankit Group

GST is one indirect tax for the entire nation, which makes India a common unified market. GST subsumes most indirect taxes under a single taxation regime. Right from the manufacturer to the consumer, GST is a single tax on the supply of goods and services. The value of GST is of great importance as both the governments (central and state) are now relying on the GST for their indirect tax revenue. There are four major types of GST that include: The State Goods and Services Tax (SGST) The Central Goods and Services Tax (CGST) The Union Territory Goods and Services Tax (UTGST) The Integrated Goods and Services Tax (IGST) 1.The State Goods and Services Tax (SGST) SGST is one of the two taxes that is imposed on every state’s transaction of goods and services. It is levied by the state where the goods are being sold or obtained. It thus replaces all kinds of existing state taxes including the VAT, the Entertainment Tax, Luxury, Sales Tax, Entry Tax etc. and the Surchar...

  Catering to government regulations, legal compliances, accounting standards, financial rules requires citizens to gain sufficient knowledge about the associated procedures.  To bridge this gap between the users and the government, several service providers offer varied e-governance, financial and accounting services in UAE. People often find it difficult to locate the best financial services provider in UAE due to the complicated terms of services. A basic requirement still stands to be scrolling through the jargon-heavy websites of service providers. Judging the credibility, industry experience and accountability of your chosen services partner is essential. Alankit UAE is a market leader in delivering best in class government-citizens facilitation services. As a leading e-governance services provider in UAE, the company stands for transparency, customer-centricity and accountability.  Alankit UAE possessing a rich industry expertise of over 2 decades with ...

Businesses registered for VAT and excise tax in the UAE must pay their due taxes before the announced deadlines. Failure to do so can result in registered businesses paying penalties and defaults. Catering to the various obligations related to paying taxes in Dubai is essential for business continuity. Tax payment UAE online Paying taxes has been made easy with the help of digital services offered by the Federal Tax Authority (FTA). Taxes can be paid electronically through their website in easy to follow steps. Filing for tax r e turns After the initial registration of businesses for paying excise tax and VAT, Federal Tax Authority requires you to file for tax return. This is to be completed by the 28th day since the end of each tax period. Based on the information submitted by you in form 201, your tax due is generated automatically. These declaration forms are to be submitted by you at the end of the tax period. Channels for paying due tax All tax payments online are...

  Why it is important to file ITR on time? The income tax department has made the process of filing of Income-tax return extremely convenient for taxpayers by introducing the online facility. This e-filing facility is speedy and accurate and provides convenience not just for local residents in India but non-resident Indians (NRIs) as well. Tax consultant Dubai and authorized intermediaries offer services for electronically filing I-T returns on behalf of taxpayers, under the Electronic Furnishing of Return of Income Scheme, 2007. A registered e-return intermediary, Alankit Limited has over 13 years of industry presence in the UAE and offers professional  ITR filing services. When should taxpayers file their returns? The last date of filing of income tax return (ITR) for a financial year, say, 1st Apr 2018 to 31st March 2019, is 31st July 2019, unless extended by the I-T department. Taxpayers can e-file their tax returns any time before the specified date. Avoid penalty If taxp...

Registration for taxation is mandatory in the UAE for businesses trading goods and providing services. Value Added Tax (VAT) registration simply refers to the tax registration for such businesses.    Contrary to popular belief, not all businesses require VAT registration. Only those exceeding the annual aggregate turnover threshold of AED 375,000 must register. In addition, businesses that cross the total value of supplies in the next 30 days, need to indulge in VAT registration. The rising popularity of VAT is owed to an increasing number of businesses that want to represent themselves as government-acknowledged entities. Once they are VAT registered, they are authorized to collect it from their customers, and later get it remitted to the government. Other reasons why businesses are inclined towards VAT registration in UAE : 1. Collecting VAT for taxable supply of products and services 2. Paying VAT to the government 3. Filing VAT returns periodically 4. Claim In...

The Reserve Bank of India (RBI) has envisioned the financial inclusion plan which aims to provide easy access to affordable financial products and services for the economically weaker sections and lower-income groups in the country. It initiated the Business Correspondent Model in 2006. Under this framework, Business Correspondents (BCs) are authorized as third party agents by banks and deliver banking and financial services on behalf of the banks. For their services, Business Correspondents also receive a commission from these banks. Business Correspondents have a pivotal role to play as they bring vital banking facilities to the financially-excluded members of the society in far-flung areas where banks do not have presence. The Business correspondent model is actually a partnership model wherein each partner has a specific role to play. With its noteworthy contributions in the Indian e-governance segment, Alankit Limited has excelled in ensuring a speedy delivery of last mile banking...

Among a list of things that one needs to consider, when going abroad, is the need for attestation of certificates. For instance, the certificates or documents of an Indian citizen, who is visiting Dubai, will need attestation from any of the authorized government offices in India and must be validated by attaching the signature of the verifying personnel. Similarly, a person in the UAE will also be required to provide documents attested by the home government when he or she is visiting India or any other country. There are many agencies that offer certificate  Attestation Services in Dubai through the online mode. The process of certificate attestation refers to the authentication or legalization of valuable educational, non-educational, and commercial documents that would be required in another country for purposes like business, employment, higher education, or immigration. It is a crucial task that needs to be undertaken because, without proper documentation, a person may face d...