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
March 22, 2022
Under GST ‘Reverse Charge Mechanism’, shortly and popularly known as RCM, is a method via which the recipient of goods or services is made liable to pay the tax. In nut-shell, the chargeability of payment of tax gets reversed from the supplier to the recipient and hence the method/ mechanism is named as ‘Reverse Charge
March 16, 2022
A simple, safe, and easy way to sign information digitally anywhere, anytime The Digital Signature services is an electronic signature services without using a physical cryptographic token.It’s been a long time since businesses are operating in a remote environment. In fact, ‘Remote Work’ has become a new normal now!In this fast-paced business world, it is
March 10, 2022
Reconciliation of different records, returns or accounts plays an important role in the life of the registered person under Goods and Services Tax (GST). The registered person is left with no option other than understanding and giving appropriate attention to the GST reconciliation.Due to severe repercussions, it is important that the registered person learns and
March 3, 2022
Probably by now we all are mostly aware of the existence of the term ‘Composition Scheme’ under Goods and Services Tax (GST). But due to the frequently changing GST law and complication involved therein, even the simple looking ‘GST Composition Scheme’ has become quite complex.Importantly, the GST composition scheme is voluntary/ optional scheme. In order to analyze