May 16, 2022
As we all know, the historic date i.e., 1st July 2017 was when the Goods and Services Tax (GST) was introduced. Around 13 taxes were subsumed into one single tax known as GST. Article briefly speaking on Implication of GST on Service Industry, GST applicability and its provisions. Going through the erstwhile laws, we will come
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
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 18, 2022
As we all are aware, one of the main purposes behind the introduction of Goods and Services Tax (GST) was the availability/ allowability of a ‘seamless flow of credit’. However, factually, with each passing day and continuous changing GST law, availment of an input tax credit is getting complicated even for the genuine recipient/ buyer.
April 18, 2022
The Finance Minister of India, Shrimati Nirmala Sitharaman, presented the Finance Bill 2022 on 1st February 2022. The Finance Bill 2022 got presidential assent on 30th March 2022, accordingly, converting the same into the Finance Act, 2022. We will broadly discussed on How does the existing Section 38 govern GST Input Tax Credit claims? The various
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