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Consistant towards achieving a solid GST structure and preventing cases of GST leakages and frauds government keeps on improvising the tax laws for good. Many new provisions are allowed by the government and some old ones are amended in order to make GST a much more convenient and realistic form of tax governance. With effect […]
There are two ways to cancel a GST registration – voluntary and by authorities. If in case, you have applied for (voluntary) cancellation of your GST registration, you must about your liability to file GSTR or pay a penalty in the interim period between the application date and the date of cancellation. How to Apply […]
In the scenario when the industries are pressing pedals for dwindling down the GST rates to get out of the stagnant phase, rail wagon makers are urging for the contrast i.e. increment in GST rates. According to companies, Inputs refer to GST which is levied at the rate of 5% and 18%, as a result […]
Tax Deducted at Source or TDS refers to an advance tax which is deducted from the income or earnings of an individual or an organization before actually crediting the income into the account of an individual or entity, as per the Taxation Code of India. As the name suggests, Tax deducted at source, it is […]
The onset of the Tax Audit spell is a buzzing alarm for CAs to update their knowledge about different clauses of the Form 3CD and form a checklist to move in tune with Tax officials. C.A.s may prepare and follow a step-by-step procedure which is in compliance with the I.T. rules and regulations to stay […]
Financial institutions have been fending off the service taxes and GST notices since April 2018 and this has again led to a dysfunctional relationship between banks and Government of India. The Government has levied Rs 18,000 crore goods and services tax (GST) on banks for their services like wealth management, zero-fee lockers, ATM facilities etc. […]
In a recent ruling, The Tamil Nadu Authority for Advance Ruling (TNAAR) has clarified that if the monthly maintenance amount gathered by the registered housing society or resident welfare committee surpasses INR 7500 per month, then a flat 18% GST rate will be applicable on the entire amount, not the different amount. The ruling decision […]
Here we are to discuss all the major points on the inward supply transaction under the GSTR 9. We will go through all the particulars and the respected financial year with the reporting in the GSTR 9: Particulars Financial Year 2023-24 Financial Year 2024-25 —————–Reporting in GSTR 9—————- GSTR 3B GSTR 3B FY 2023-24 Table […]
GST practitioner is personnel who is approved by the government (state or central) to take charge of all the tax-related activities on behalf of taxpayers and business firm. GST practitioner is a person concerned for fresh registrations under GST, applying for amendments or cancellation of registration. No shells of GST are left uncovered for a […]
