May 9, 2022
GST Input Tax Credit can be availed without any blocking of your credit if it is done in a right way. This article is mainly focused on ITC claim in GST and its dependence on ITC reconciliation process.Claiming of GST Input Tax Credit on the purchases made can be difficult and availing only the eligible
May 9, 2022
Provisions of section 2(63) of the Central Goods and Services Tax Act, 2017 cover the definition of ‘input tax credit’. Accordingly, ‘input tax credit’ means the credit of input tax. It is worth making a note here that except simple definition, each and every thing is complicated when it comes to availment of input tax
April 29, 2022
Dictionary meaning of the term ‘Traders’ is ‘a person who buys and sells things, especially goods in the market’. Accordingly, ‘Trade’ means the transfer of goods/ services from one person/ entity to another. Article mainly focused on Impact of GST on Traders and GST applicability for traders.As we know, ‘Goods and Services Tax’ was implemented
April 29, 2022
One of the basic reason behind the introduction of Goods and Services Tax is the availability of a seamless flow of Input Tax Credit under GST. However, ‘seamless flow of credit’ and taxable person under GST are sadly going through a complete roller coaster ride. Article briefly explain on ITC Reconciliation, GSTR2B Reconciliation Vs matching
April 18, 2022
Concept Of TDS on GST : The concept of TDS under indirect taxation was not prevalent under erstwhile law. Also, TDS on GST provisions were not introduced along with the introduction of the Goods and Services Tax. Accordingly, a special procedure is laid down for the same in case of TDS on GST.Provisions relating to tax
March 22, 2022
In the present article, we are going to discuss at large the GST Composition Scheme as applicable to the Restaurants and Hotels. Many a time we should have noticed that people misuse the word ‘Hotel’ even for the ‘Restaurant’. Hence, first of all, let us figure out and clear what is ‘Restaurants’ and ‘Hotels’ and