GST Return Filing: Retailers must file GST returns on time, detailing sales, purchases, and tax liabilities. Delayed or incorrect filings can result in penalties and interest charges. Challenges with Bundled Offers: Invoicing for bundled offers or discounts, common in the mobile phone sector, requi...
Yes, businesses failing to register for GST when required may face penalties and interest charges for non-compliance. It’s essential to stay updated on turnover thresholds and register if necessary. 8. Is there a simplified way to reconcile GST on payment gateway charges? Yes, many businesses...
Recently, on June 22, the GST Council held the 53rd GST council meeting, and introduced a conditional waiver of interest and penalties under Section 128A, and reduced pre-deposit amounts for appeals to ease taxpayer compliance. It also extended the GSTR 4 filing deadline and introduced FORM...
And the charges were also very reasonable. We got TM Approved in 6 month’s time without any re-submission or objection. They charge high to deliver the best in industry.” Manish Pandy “I would like to thank the Enterslice team for the excellent business plan made by them. They ...
CGST修订Section 9(4) – Reverse charge in case of procurement from unregistered persons 在修订案之前,RCM每天有5000卢比的免税额度,因此会有这种情况——购买方发现销售方开出超出5000卢比的账单,可以要求连续几天开低于5000卢比的账单分摊金额,金额低的可以少缴一些税,修订后取消了这5000卢比额度。
245/02/2025-GST incurred the clarifications for the applicability of GST on penal charges being imposed by the Regulated Entities (REs) given RBI instructions on 18.08.2023 asking such Regulated Entities (REs) to assess penal charges in place of penal interest....
Will my Current Account(s) and/ or Savings Account(s) be subject to GST? Charges for the operation of Current Accounts and Savings Accounts are GST exempted. No GST is charged on these services. There will also be no GST levied on interest earned on deposits.Loans...
defined credit terms, which require their customers to make payment for supplies by a certain date. If the payment is not made, the supplier charges interest on the amount due from the customer. One of the major questions both suppliers and customers have - is GST charged on interest ...
Tax Liability on Transportation Charges in Invoice Read More→ Input tax Credit A significant change that GST introduced was the mechanism of input credit under GST. ITC is the heart and soul of GST. Input Credit Mechanism is available to you when you are covered under the GST Act. Which ...
Missing a GST return deadline may incur penalties, including late fees and interest charges. To avoid this, file the return as soon as possible and pay any outstanding taxes to mitigate penalties. How can I check my GST return filing status? Check your GST return filing status online by lo...