GSTR-3B is a summary GST return that taxpayers are required to file regularly to report sales, input tax credit (ITC) claims, tax liabilities, refunds, and other details linked to their…
The introduction of GST has transformed the way exports are handled in India by creating a more transparent and simplified tax structure. Under GST, exports are categorized as zero-rated supplies,…
The GST framework for old and refurbished cars has been streamlined, bringing more clarity and ease for both dealers and buyers. Following the 55th GST Council meeting, a uniform 18%…
Section 17(5) of the CGST Act, commonly known as blocked credit or ineligible input tax credit (ITC), is an important provision as it directly affects GST cash payments and working…
Staying updated with GST news is crucial for every business to ensure timely and full compliance. Here, we bring you the latest developments from the CBIC, GST Council, and GSTN…
Under GST, the event of Supply is treated as the basis for charging tax. The tax liability arises at the time of supply of goods or services. Therefore, identifying whether…
What is GST in India? GST, or Goods and Services Tax, is an indirect tax that replaced several earlier indirect taxes in India, such as excise duty, VAT, and service…
Since the rollout of GST in India, Section 73 of the CGST Act has been applied to determine GST demands in genuine cases where there is no fraudulent intent. However,…
For every taxpayer in India, it is important to know how the tax system works and the correct way to file both direct and indirect taxes. Having a clear understanding…
Any individual involved in the taxable supply of goods or services within a state, with an annual turnover exceeding Rs 20 lakh (Rs 40 lakh or Rs 10 lakh depending…