September 2, 2021
Input Tax Credit is the bedrock of the GST structure. Input Tax Credit makes the GST a justiciable tax structure in India and thus helps eliminate the earlier ‘tax on tax’ effect as was in the pre-GST era. Though Input Tax Credit is an integral part of the GST, specific scenarios exist where ITC cannot be
September 2, 2021
E-invoicing solution is recently the most trending topic under GST, with the continuous increase of its ambit. Smartly, in the case of e-invoice, the Government has adopted the strategy of stage-wise implementation.Large and medium-sized firms have already adopted an e-invoicing mechanism. Now, it is most likely that sooner or later an e-invoicing solution will be
August 24, 2021
Most of the businesses have multiple registrations under one headquarter.According to the CGST Act, when there are multiple depots or branches of the same business involved, all these branches or depots will be treated as individual GST registered persons.Hence, inter-branch transfer of goods or services or both will attract a GST on them.This short article will
August 5, 2021
Formerly, the registered person opting under the Composition Scheme was required to furnish a quarterly return in Form GSTR-4. However, from the Financial Year 2019-2020 onwards, the duration of filing of return in Form GSTR 4 is changed from quarterly to annually. In this article, you will get GSTR-4 Due Date, Late Fees and A
August 5, 2021
E-Invoice under GST was applicable from 1st January 2020 in India on voluntary basis and then became mandatory in phases starting from big companies and then became applicable to small companies.With the passage of time, as e Invoice applicable to E-invoicing increased its ambit and covered so many organisations.A taxpayer has to first register his business
June 29, 2021
After a gap of more than six months, the 43rd GST council meeting was held on 28th May 2021. The meeting was conducted, via video conferencing, under the Chairmanship of the Finance Minister Smt. Nirmala Sitharaman. One of the major outcomes of the meeting was the announcement of the ‘Amnesty Scheme’ for late filing of pending