The introduction of the Goods and Services Tax (GST) in India brought about a significant change in tax legislation, particularly affecting the gaming and casino sector. Adhering to GST regulations is of great significance for casinos and online gaming platforms. The evaluation of the worth of gaming provisions is a crucial aspect of ensuring compliance….
Goods and Services Tax (GST) has transformed the taxation system in various countries, and so does in India. It aims for an efficient concept and more transparent to charging taxes. One of the main elements within the GST structure is the GST Network (GSTN), a technological infrastructure that plays a vital role in the administration…
The implementation of the Goods and Services Tax (GST) regime leads to significant transformation under taxation landscape. This implies that the indirect taxation system has been simplified by merging several taxes into a single category. In addition to these alterations, businesses and individuals who are registered must also comply with necessary regulations such as GST…
The Goods and Services Tax (GST) implementation has enhanced the taxation system, efficiency and transparency in financial transactions. However, this positive execution has also provided a hike to the issue of fake invoices GST, which threatens the integrity of the GST structure. In the current comprehensive guide, we will detect fake invoices under GST, along…
Businesses are urgently striving to align their revenue and Input Tax Credit (ITC) for the fiscal year 2022-23, with the objective of making essential modifications in their financial records and GST reports before the October 2023 cutoff. The process reaches its peak with the complete submission of data via GSTR-9 and GSTR-9C for every fiscal…
The digital economy boom and affordable internet prices have empowered people to share their thoughts through videos and posts. Platforms like YouTube facilitate quick information sharing. YouTube generates income from ads and promotions. In this article, we will get to know about the GST on YouTube Ad Revenue & income from YouTube taxable under which head…
As a taxpayer, you might feel uneasy about your registration being suspended or questioning the reasons behind the suspension of your GST registration. It is important to mention that there is always a valid explanation before terminating any registration. Hence, it is essential to be extremely cautious and vigilant for any possible causes that may…
Effective financial management is vital for the prosperity and expansion of your company as a business proprietor. Accounting is essential for maintaining financial stability and ensuring adherence to regulations. When it comes to managing the financial tasks of your business, you have two main choices that is Accounting conducted internally within the organization (In house…
GST refunds can be claimed for excess cash balance in the electronic cash ledger, for taxes paid in error, or for ensued input tax credits (ITC) that cannot be used for tax payments due to zero GST rate or inverted tax structure. However, the refund of amounts paid more than the amount in the electronic…
In India, starting a startup business is an exciting thing to do, however, understanding the startup India scheme provided by government can be challenging. In this article, we will walk you through a Step-by-Step Guide to Setting up a Startup Business with Government Schemes in India. In addition, there will be a discussion about the…