The GST Council was established in September 2016 as part of the 101st Constitutional Amendment Act, marking a monumental shift in India’s taxation system. Prior to GST, the Indian tax landscape was fragmented, with multiple indirect taxes levied at various levels of...
Table of contents: Overview of the 54th GST Council Meeting Agendas of the Council Meeting Major Decisions from the GST Council Meeting Outcome and Implications of the 54th GST Council Meeting Future Agenda of the GST Council Conclusion The 54th GST Council Meeting...
Table of contents: An overview of Section 17-5 of the CGST Act Clause (a) – Blocked ITC on Vehicle Clause (ab) – Vehicle Repairs and Insurance Clause (b) – Employee-Related Expenses Clause (c) – Construction and Works Contracts Clause (d)...
Table of contents: Understanding GSTR-6 Eligibility for GSTR-6 Turnover limit Due dates GSTR-6 Return filing process GSTR-6 Format and Form Screenshots Required Information in GSTR-6 Its Importance for ISDs Challenges Best Practices Comparison with other GSTR Returns...
Table of contents: What is Reverse charge mechansim (RCM)? Key Features and purpose of RCM Applicability under RCM including Goods and Service list Liabilities under RCM GSTR Forms Relevant to RCM (GSTR-1, GSTR-2) Input Tax Credit (ITC) on RCM Time of Supply under RCM...
Table of contents: Process to add additional place of business Documents required for APOB Benefits of adding APOB Common Challenges for Businesses Mistakes to avoid Timeline FAQs – helpful for businesses GST registration is a mandatory requirement for...
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) plays a pivotal role in fostering the growth of micro and small businesses in India. By providing loan guarantees, CGTMSE encourages financial institutions to lend to these enterprises, often...
Obtaining financing for Micro, Small, and Medium Enterprises (MSMEs) can often be difficult, particularly when collateral is required. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme, backed by the government, helps MSMEs overcome this...
The decline of the Visakhapatnam Steel Plant has been a gradual but inexorable process, fueled by a combination of financial constraints and supply chain disruptions. The plant’s journey towards closure began in earnest in March 2024 when the first of its three...
Perforated metal sheets, especially those made from stainless steel, have become indispensable across various industries. Whether it’s for industrial applications, architecture, or decorative purposes, stainless steel perforated sheets provide a versatile solution....
In India, The Goods and Services Tax (GST) regime has streamlined taxation but also introduced new documentation requirements. One of the critical documents in the GST registration process is the consent letter. Whether you are renting a commercial property or using a...
