June 11, 2020
Reverse Charge Mechanism under GST is a mechanism under which the usual cycle of tax payment is reversed. Under Reverse Charge, the recipient pays to the supplier an amount exclusive of GST, the recipient then pays the GST directly to the Government. RCM is a complex concept that works in select scenarios only. 1. What is RCM
June 11, 2020
The 40th GST Council Meeting was held in New Delhi under the chairmanship of Honorable Finance Minister Nirmala Sitharaman, through video conference & comprised of the counterparts form the States & UTsImportant Facts about GSTR-3B filing | Watch our video now The 40th GST Council Meeting has made the following recommendations on Law & Procedures
March 3, 2020
Taking a step towards curbing the Tax evasion and enhancing the tax revenue collection, the Government has imposed a new rule of blocking the E-way Bill generation of certain Taxpayers. These are the taxpayers with a default in their punctuality in the context of filing Tax returns. Taxpayers Who have not filed their tax returns
January 14, 2020
Table of Contents e-Invoicing Applicability under GSTWhat is E-Invoicing?E-invoicing Applicability in GSTMyths & Facts About E-invoicingSteps for E-Invoice Generation ProcessImportant Terms and PointsBenefits of E-invoicingModes of Generation of E-InvoiceGenerate complete and ready-to-use e-Invoices in just 1-click ! In the 37th GST Council Meeting held on 20th September, 2019, decision was made to implement e-invoice. Further, in
December 20, 2019
On 18th December, 2019, Wednesday, 38th GST Council Meeting was held in New Delhi under the chairmanship of our Hon’ble Union Finance Minister Nirmala Sitharaman. Some major decisions were taken in the Council meeting that shall affect the business were as follows – File GSTR-9 in 10 Minutes |Watch video for step by step process
December 2, 2019
Under GST, valuation of taxable supply is a critical aspect. While value of supply under GST has various points need to be considered and one such area is GST discounts and its treatment.A lot of confusion among businesses and CA’s regarding treatment of various GST on discounts received by a business.With regard to this, a