Table of contents: Introduction to Place of Supply Under GST The Importance of Place of Supply in GST Place of Supply: Core Concepts Simplified Section 12 Rules: Place of Supply for Domestic Transactions All provisions under Section 12 of GST Common Scenarios and...
In the world of Goods and Services Tax (GST), businesses are obligated to adhere to a range of regulations. When a business fails to comply with these rules, the tax authorities step in to ensure the system operates smoothly. One of the most formal actions taken by...
The Invoice Furnishing Facility (IFF) is a vital tool under the Goods and Services Tax (GST) regime that helps businesses streamline their tax processes, particularly when it comes to the timely claiming of Input Tax Credit (ITC). In this detailed guide, we will walk...
Table of contents: An Overview of the Desh Bill Core Features of the Desh Bill Economic Impact: Transforming India’s Growth Trajectory Tax Reforms Under the Desh Bill Support for Domestic Manufacturing and Startups Desh Bill and Sustainability: Environmental and...
Table of contents: Introduction to Domestic Tariff Area (DTA) How the Domestic Tariff Area (DTA) Works DTA vs. SEZ: Key Differences Key Features and Benefits of DTA DTA and India’s Economic Landscape Taxation System in DTA Government Regulations and Policies...
A Letter of Undertaking (LUT) under GST is a vital tool for exporters in India. It allows them to export goods and services without paying Integrated Goods and Services Tax (IGST). This mechanism simplifies the compliance process and improves cash flow for businesses...
Table of contents: Understanding the basics of SEZ in GST Interpretation of key provisions under GST Laws on SEZ GST Implications for SEZ Units: Taxability and Zero-Rated Supplies E-Way Bill Rules for SEZ Units Benefits and Incentives for SEZ Units Under GST...
Table of contents: What is a GST Audit? Why GST Audits Are Crucial for MSMEs Applicability of GST Audit GST Audit Limits and Criteria Due Dates for GST Audit Steps to Conduct a GST Audit Key Documents Required for GST Audit Common Errors Found in GST Audits Penalties...
Table of Contents: Introduction to GST Ledgers Understanding Input Tax Credit (ITC) Role Structure and Maintenance of the Electronic Credit Ledger Accessing and Navigating the Electronic Credit Ledger on the GST Portal Utilization of Balances in the Electronic Credit...
Table of contents: Overview Types of Returns Who shoud file the returns? Documents Required Steps to file return Due Dates Penalties on delayed returns How to check return status Challenges & Solutions Recent Updates Conclusion A GST return is a mandatory document...
Table of contents: Overview of Section 122 of the GST Act Some facts around Section 122 Offenses Covered Under Section 122 Penalties Under Section 122 Latest Changes and Notifications Implications of Non-Compliance Role of GST Professionals Tips to Avoid Penalties...
Table of contents: An overview List of Central Taxes Subsumed Under GST State-Level Taxes Subsumed Under GST Which are the Taxes Not Subsumed Under GST? Pros Cons Impact Principles Conclusion Taxes subsumed under GST marked a significant shift in India’s tax regime,...
Table of contents: Constitutional Amendments that enabled GST Key Features of the GST Amendment Act Key Amendments in Recent GST Amendment Acts Central Goods and Services Tax (Amendment) Bill, 2023 How GST Amendment Acts Are Implemented Impact of GST Amendments...
