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
July 8, 2022
In the 47th GST council meeting, the company will be declared invalid and ineligible for an ITC if it does not comply with e-invoicing. Soon, government plans for GST e-invoicing mandatory for those business whos yearly revenue exceeds 10 crore rupees and then 5 crore rupees, respectively.According to Revenue Secretary Tarun Bajaj, the e-invoicing process
July 8, 2022
Most of the businesses in India are expanded with multiple branches or sub-units. Most companies register these sub-units under GST for easier GST compliance and claiming the benefits of GST Input Tax Credit. Audit under GST is important key factor for the all types of business.These units may include GST-registered depots, GST-registered warehouses, workshops, etc.
July 1, 2022
47th GST council meeting 2022, held on 28th & 29th June, Eases Taxpayers Compliances as GST (Goods and Services Tax) law completes five years on July 1 2022.Smt Nirmala Sitharaman was chairing the meeting in the presence of Ministers of State for finance and state ministers. The clarity in taxation policy and modifications in form
