Along with this, our monthly Newsletter – IRIS GST Times completes 3 years this October thus we are releasing a celebratory Anniversary Issue which comes with loads of value-added free GST resources like e-books, informative articles, case studies and our IRIS Peridot Diwali Dhamaka Contest – ...
Goods and Services Tax is the tax levied by the Indian Government on the procurement of goods or services in the country. The tax was introduced in the year 2017. The tax has replaced all the other indirect taxes, like Value Added Tax (VAT), and compressed them into a single tax. GST...
The GSTN department has added a new option for document uploads in the GST registration and amendment procedures. Exporters can breathe a sigh of relief as the GST Council has approved a mechanism to refund excess IGST paid on goods exported at higher prices. This move addresses a long-standin...
Yes, you can modify your GST registration details through the GST portal by submitting an amendment application. What is the difference between voluntary and mandatory GST registration? Voluntary registrationis when a business opts to register under GST, while mandatory registration is required by law...
Effect of Amendment on Time Limit for revising TDS Returns The July Budget 2024 introduced a six-year time limit for revising TDS returns. Budget 2024 amendment introduced a six-year time limit for revising TDS returns, which was added under Section 200(3) of the Income Tax Act, Previously,...
Rajasthan Value Added Tax Act, 2025 Karnataka[Notification] Enhancement in rate of tax on Diesel Rajasthan[Notification] Procedure for Rajasthan Amnesty Scheme, 2025 Himachal Pradesh[Notification] Himachal Pradesh Sadhbhawana Legacy Cases Resolution Scheme, 2025 ...
He again added, “In these cases, it’s a lesser evil because buyers in these segments, in any case, do not get the credit.” As per Mr Jain, the decision might turn to the positive or negative side as doing so might increase demand but might not lead to the return of cash ...
It's the tax a business pays on its purchases, which can be used to reduce the tax payable on its sales. This system ensures that the tax is levied only on the value added at each stage of the supply chain, avoiding the cascading effect of taxes. Understanding what is input tax credit...
The E-Way bill is essential at the time of goods delivery. If the invoice is raised, but the goods are not delivered, you can generate Part A of the E-Way bill. Part-B details can be added later upon delivery, and the E-Way bill's validity begins when Part-B details are entered...
GST was introduced through the 101st Constitution Amendment Act, 2016. It is one of the biggest indirect tax reforms in the country. It was introduced with the slogan of ‘One Nation One Tax’.The GST has subsumed indirect taxes like excise duty, Value Added Tax (VAT), service tax, luxur...