June 26, 2023
The term ‘education’ is not defined under GST. However, the generalized meaning of the term ‘education’ means that it is a process of training and developing the skills, knowledge and character of the student through normal schooling.As ‘education’ is viewed more as a social activity rather than commercial, the levy of taxation on the Education
April 21, 2023
With each passing year, Goods and Services Tax (GST) law is trying to stabilize. Remarkably, GST collection for the last Financial Year i.e. 1st April 2022 to 31st March 2023 has touched the new height of INR 18 Lakhs Crores. Notably, the total collection for the Financial Year 2022-2023 is INR 18,07,679 Crores. Looking at the
April 7, 2023
The GST department holds the power to carry out on-site inspection of the business to ensure that the business is fully compliant with the GST laws. In order to face such inspection under GST, it is necessary for the businesses to keep their records clean and unambiguous and also have an internal GST litigation management
March 23, 2023
GST Audit Checklist for the financial year end is explained in this short article that every small and medium sized businesses should follow before the end of this financial year. In this article, we have touched upon TEN most important points to be considered before you file your GST returns for the month of March
February 7, 2023
There was a loud outcry amongst the trade and industry with regard to various demand actions by the departmental officer spinning around fake invoices in GST causing a hell lot of litigations.In spite of the same, it is interesting to note that the Goods and Services Tax (GST) law doesn’t define ‘fake invoices in GST’.
February 6, 2023
Hon’ble Finance Minister of India, Shrimati Nirmala Sitharaman, presented the union budget 2023-2024 on 1st February 2023.Accordingly, the Finance Bill, 2023 has proposed various amendments under the Goods and Services Tax law. Provisions relating to the input tax credit, composition scheme, return filing, registration, refund, penalty, etc. are proposed to be amended.In the current article,
