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Search results for: input tax credit

Proper Suggestions for ITC Difficulties While Claiming

Practical GST ITC Claiming Complexness with Suggestions

Since the GST execution, the claim of the ITC has seen various changes with the government’s purpose to permit lower and recover more and limiting the claim only when the invoices or debit notes would be uploaded through the suppliers in GSTR-1 form. From this article, we pose an intention to undergo the difficulties of […]

All About GST Electronic Ledgers Amendments

Section 49 Amendments on GST Electronic Ledgers in Budget 2022

The Union Budget for the Financial Year 2022-23 (‘the Budget’) was addressed in Lok Sabha by Hon’ble Finance Minister Nirmala Sitharaman dated 1st Feb 2022. After the pandemic, the importance of IT in India is been acknowledged this was the 2nd Union budget that was shown on the tablet and not the traditional Bhai Khata. […]

Budget 2022-23 May Hard to Claim GST ITC

Budget 2022 GST Proposals May Tight ITC Claims for Suppliers

The changes drawn in the GST law under the finance bill 2022 can bring the cash inflow to the businesses and make the provision for the taxpayers to be accurate with their Input tax credit report when they file the returns. The amendments asked in the Union GST act sections concerning Input tax credit have […]

Important GST Changes in Budget 2022

Must-know Important GST Amendment in Union Budget 2022-23

Everyone was concerned about the union budget 2022 and now it is finally out. FM Nirmala Sitharaman reflects various reasons for an effective future. The budget speech and the economic survey in 2021 show the economic revival of the country after the pandemic. Also, the deficiencies have been diminished, revamp in the foreign exchange reserves, […]

GST - FIPI Expectation for Natural Gas in Budget 2022

FIPI Demands GST Rationalization of Natural Gas in Budget 2022

The government must draw the natural gas under GST compliance to discover the vision of the PM Narendra Modi on the subject of the economy of the gas and making the environment friendly fuel for India, the industry council that shows the likes of the Reliance Industries and the companies owned by the state. Natural […]

Bombay HC Notice Over Blocking of ITC

HC Circulates Fresh Notice to Center & MH Govt for GST ITC Blocking

The Bombay High court has provided the notices to the centre and Maharashtra government in context to the applicant where the subject seeks to announce as unconstitutional a provision in GST laws that provides the authority with a power to restrict the input tax credit (ITC) on the contract services inside the real estate. The […]

GST Compliance Guide for E-commerce Operators

Simple GST Guide to Reg, Returns, TDS/TCS for E-commerce Operators

There is no doubt that the online business or selling from the e-marketplace does not only become the most famous channel of running the business however this channel of selling or running the business becomes unavoidable for any business if the same needs to survive and raise in the coming years. The same provides the […]

Future Announcements in Upcoming 4th Budget

Significant Announcements May Happen by Upcoming Budget 2022

FM Nirmala Sitharaman would present her 4th Budget for India. In the ongoing pandemic, inflation is rising and the coming budget 2022 seems to disclose actions to mitigate the Covid-19 impact on the economy. At this time FM Sitharaman was required to raise more resources via taxes and non-tax revenues. But experts and salaried class […]

GST E-waybill and E-invoice Overview for Retailers

Smart Guide of GST E-invoice & E-WayBill for Retail Traders

In India, any retailer coming under the turnover range of INR 50 Crore to 500 Crores (and more) must have to follow the below compliance as per the GST Act: Real-time GST E-invoice (SEZ, B2B) GST Credit Note/Debit Note (B2B, SEZ) GST Invoice (B2C) Bill of Supply (B2B and B2C) Dynamic QR Code for 500 […]

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