Providing latest updates on Direct and Indirect Tax laws including income tax and GST, with Corporate Laws which are being used by the professionals and business entities in day to day activity.
Yes GST is an online portal which aims to provide all information about Goods and Services Tax (GST) and other laws in India. Our endeavor is to spread knowledge amongst people about latest developments in GST & other laws. Useful GST Downloads GST Flyers GST Council Meeting State Websites...
The rate of GST on Travel Agency Service is updated as per Determination of Value of Supply as 5% on Basic fare in case of domestic air travel and 10% of basic fare in case of International travel. For other related services go through this link https://gstguidance.blogspot.in/2017/08/...
By providing a detailed breakdown of GSTR-3B requirements, including filing deadlines, input tax credit calculations, and reconciliation procedures, you can gain clarity on your tax liabilities and ensure compliance with GST laws. Also, the rising number of fines being imposed on businesses due to...
GST laws mandate specific timelines for issuing invoices, revised bills, debit notes, and credit notes based on the type of supply. For goods, a GST tax invoice must be issued when the value exceeds ₹200. However, GST-registered suppliers must issue invoices upon customer request, regardless...
While multiple theories go around in the market on the subject, this article aims to discuss the theories and examine them in light of applicable laws. The issue It is common knowledge that, for GST to be applicable, there needs to be a supply of goods or services. Therefore, the primar...
Reclaim any ITC reversal for suppliers on their subsequent payment Check if Accounts and Records are maintained as per GST Laws Ensure to calculate and pay GST under RCM on import of Services, sitting fees paid to directors, GTA, Security Services, Rent a Cab, Advocate fees. ...
Tax Structure: It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. Taxation Points: Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales, Central GST and State GST are charged. All the inter-state...
Output RCM records Document where ITC is ineligible due to POS rules & Section 16(4) of CGST Act (time limit) Documents where ITC is to be reversed on account of Rule 37A (Reversal of input tax credit in the case of non-payment of tax by the supplier and re-availing thereof) ...
India's GST laws are significantly stricter than any of the country's previous indirect tax laws. Onlyinvoicesuploaded by their suppliers are eligible for an input tax credit under GST. The chances of obtaining input tax credits on fraudulent invoices are significantly reduced in this manner. The...