September 4, 2023
A high-performance GST return filing software enables efficient GST compliance tracking, invoice data management, GST Reconciliation, vendor compliance, and payment management solutions. These GST solutions prevent complicated and error-prone outcomes, usually resulting from a manual process.Any slight inaccuracy or mistake in return filing may lead to penalties and legal issues for an enterprise, disrupting the
August 31, 2023
The present article briefly covers all the relevant Frequently Asked Questions relating to Casual Taxable Person under GST. Who are ‘Casual Taxable Person’ under GST?The term ‘Casual Taxable Person’ is defined under section 2(20) of the Central Goods and Services Tax Act, 2017 which means –‘A person who occasionally undertakes transactions involving supply of either
August 24, 2023
What is the Cancellation of GST Registration?GST registration cancellation denotes the exclusion of a taxpayer from the GST-registered persons list, thereby exempting them from GST payment, collection, input tax credit claims, and return filing duties.Governed by CGST Act Section 29 and CGST Rules 20-22, this can occur voluntarily, through taxpayer initiation, or compulsorily due to
August 21, 2023
‘Banquet’ means a splendid feast which is arranged to cater for a large number of people. Accordingly, ‘Banquet Service’ in today’s time means an elaborate meal (other than a regular family dinner) along with various other facilities due to the scope of an event or the size of the crowd.From a GST perspective, ‘Banquet Service’
June 26, 2023
The term ‘education’ is not defined under GST. However, the generalized meaning of the term ‘education’ means that it is a process of training and developing the skills, knowledge and character of the student through normal schooling.As ‘education’ is viewed more as a social activity rather than commercial, the levy of taxation on the Education
May 22, 2023
In simple terms, input tax credit (ITC) means claiming credit of the tax paid on the purchase of goods and/ or services which are used for the furtherance of the business. Notably, the seamless and easy flow of input tax credits is the backbone behind the implementation of Goods and Services Tax (GST) in India.