August 17, 2022
In the present article, we will understand the Penalty for Fake Invoice in GST and go through the recent departmental clarification relating to demand and as applicable under fake invoice. Fake Invoice and Departmental Clarification The term ‘fake invoice’ is not defined under the Goods and Services Tax (GST) law. However, any invoice will be
July 25, 2022
Special Composition Scheme has been introduced and made effective, for Brick Kilns manufacturers and traders, from 1st April 2022. Notably, the government has come up with a new GST tax slab of 6% in latest news on GSTR 1 Filing for the said special composition scheme for Brick Kilns.Latest news on GSTR 1 filing newly
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.
