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GST input tax credit Input tax is related to a taxable entity, which means the (IGST and CGST) in respect of the CGST Act and (IGST and SGST) in respect of the SGST Act are imposed upon each supply of goods and any services on the entity that is used by it or that is […]
Summary of GST PMT-06 Challan Form A single challan called Form GST PMT-06 is used to pay interest, taxes and penalties. This challan can be created online through the GSTN official portal, where you can also make payments and get immediate receipts. If you are registered for the QRMP scheme, you must use this challan […]
An Explanation About E-invoice E-invoices are digital documents that are exchanged between buyers and suppliers and validated by the tax portal of the government. An e-invoicing system is a digital process of preparing business-to-business (B2B) invoices and showing them through the Goods and Services Tax Network (GSTN). Business invoices are reported to the GST portal […]
If you don’t have access to the necessary technology or tools, invoicing may be quite difficult, whether you run a little business or a large corporation. E-invoicing will be the best option if invoicing has always been a problem for you. B2B invoices for interchange between buyers and suppliers can be created electronically via e-invoicing […]
Jharkhand High Court Judges Deepak Roshan and Aparesh Kumar Singh directed petitioner Shivam HiTech Steels Pvt. Ltd to search all available options. Its manufacturing facility is located in Chhattisgarh and it makes ferroalloys and other ancillary products. For the purpose of furthering its business, the petitioner received a purchase order from Tata Steel Limited. Accordingly, […]
Punjab Finance, Excise and Taxes Minister Harpal Singh Cheema launched a bilingual WhatsApp chat bot-cum-helpline to solve taxpayers’ questions about Goods and Services Tax (GST). The chatbot is available in Punjabi and English language and can be used to get information on various aspects of GST, Mr Cheema announced during the monthly district-wise review meeting. […]
GST AAR in Karnataka has ruled that tax exemption is applicable on transfers of independent business parts which is related to mobile software. According to the two-member bench of M.P. Shri Ravi Prasad and Shri Kiran Reddy T., The transfer of an independent part of the “Loan Front” app, a mobile software application, qualifies as […]
As per data released by the Finance Ministry on Tuesday, GST collections for October 2022 (for sales in September 2022) rose to Rs 1,51,718 crore, the second highest since the indirect tax regime was implemented in 1st July 2017. There were 1,51,718 crores of gross GST collected in October 2022, of which 26,039 crore was […]
Once GST registration has been received the same could not be revoked unless an assessee applied voluntarily against it or GST heads cancelled the same for some reason. If the GST registration would get cancelled by the GST heads the same would get specified on the GST portal as Suo Moto cancelled. One is not […]