August 17, 2022
47th GST council meeting was held on 28th June 2022 and 29th June 2022. Lots of amendments are carried out under Goods and Services Tax (GST) post the said GST Council Meeting. One such important amendment is partial withdrawal of exemption on services by way of GST on rent of residential property. It is important to note
August 17, 2022
In the present article, we will understand the Penalty for Fake Invoice in GST and go through the recent departmental clarification relating to demand and as applicable under fake invoice. Fake Invoice and Departmental Clarification The term ‘fake invoice’ is not defined under the Goods and Services Tax (GST) law. However, any invoice will be
July 25, 2022
Special Composition Scheme has been introduced and made effective, for Brick Kilns manufacturers and traders, from 1st April 2022. Notably, the government has come up with a new GST tax slab of 6% in latest news on GSTR 1 Filing for the said special composition scheme for Brick Kilns.Latest news on GSTR 1 filing newly
July 25, 2022
Firstly, the present article briefly explains the burning issue which is being faced by the bona fide recipient who is demanded a reversal of input tax credit on the basis of non-payment of output tax liability by the supplier.Later on, the article briefs various grounds which can be taken up by the bona fide recipient
July 25, 2022
‘Textile’, after food, is the second most basic requirement of the world. It can easily be said that each and every person in the world is a consumer of the textile sector. Importantly, high-quality fabric and affordable cost are India’s pointers which are attracting the global market towards India’s textile sector. Impact of GST on
July 14, 2022
Whether it is direct tax or an indirect tax, the word ‘Refund’ itself sounds so soothing for the registered person who is eligible to claim the same. However, definitely pretty hard for the departmental officers. Everything know about GST refund claim, formula for calculate maximum GST refund available, GST on export and more.Impressively, under Goods