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
July 1, 2022
As we know, the Goods and Services Tax (i.e., GST) is a consumption-based tax. Due to this many manufacturing States will obviously face a loss of revenue. Consequently, ‘GST Compensation Cess’ is levied as per provisions of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017. Accordingly, the Goods and Services Tax
June 24, 2022
Now, each one of us is fairly familiar with the GST portal i.e. https://www.gst.gov.in. The said GST portal contains some significant GST ledgers and register, the understanding of which is essential for each and every registered person under GST. Article contain detailed guide on Electronic Cash Ledger/Credit & Liability Register in GST and its steps
June 22, 2022
Powers relating to inspection, search and seizure under GST are covered under section 67 of the Central Goods and Services Tax Act, 2017. The gist of all the three powers are covered under the table belowProvisionRelevant powerDesignation of an officer who is granted the powersSection 67(1)Inspection of any place of business of taxable person; orInspection
