May 20, 2024
The Bill of Supply, a key document under the Goods and Services Tax (GST) regime, serves as an official record for transactions involving goods or services that are exempt from GST. This article aims to offer an in-depth understanding of the Bill of Supply under GST, its structure, and its significance to small and medium-sized
May 20, 2024
This article delves into the complexities surrounding the time limits for claiming Input Tax Credit (ITC) in GSTR 3B. The eligibility for ITC has been a contentious issue in indirect tax laws, and despite promises of seamless credit flow in the GST regime, disputes have arisen. This piece particularly focuses on the interpretation of Section
May 14, 2024
For small and medium businesses in India, managing accounts payable and ensuring GST compliance can be a daunting task. Manual processes involving paper invoices, data entry, and record-keeping are not only time-consuming but also prone to errors. One critical aspect that often gets overlooked is the proper claiming of input tax credit (ITC), which can
April 29, 2024
The Goods and Services Tax (GST) in India has revolutionized the way businesses operate, particularly in terms of tax credits. One of the key components of this system is the Input Service Distributor (ISD). In this short article, we aim to provide a comprehensive understanding of what an Input Service Distributor is, its role under
April 7, 2023
The GST department holds the power to carry out on-site inspection of the business to ensure that the business is fully compliant with the GST laws. In order to face such inspection under GST, it is necessary for the businesses to keep their records clean and unambiguous and also have an internal GST litigation management
March 23, 2023
GST Audit Checklist for the financial year end is explained in this short article that every small and medium sized businesses should follow before the end of this financial year. In this article, we have touched upon TEN most important points to be considered before you file your GST returns for the month of March
