The e-invoicing system is now applicable to more businesses through CBIC Notification CGST 01/2022 dated 24 February 2022. Indian businesses with an annual aggregate turnover of more than Rs 20 crore to Rs 50 crore as calculated in any previous financial year from 2017 onwards -18 to 2021-22, must start generating e-invoices from April 1,…

Understanding the taxation of goods and services include knowing that the goods or service is free to register with GST. Knowing this, applicants can find clarity on a few other things. The GST release threshold for businesses depends on their combined annual revenue. Previously, businesses with an annual turnover of Rs.20 lakhs did not need…

The Composition Scheme was introduced by small taxpayers with the aim of providing relief from the complex and difficult process imposed by ordinary taxpayers. Section 10 of the CGST Act defines the eligibility criteria for registration as a taxpayer. A clear reading of section 10 and appropriate rules that have been revised several times will…

Under the GST, a taxpayer registered with the GST may claim a refund of any taxes and interest paid or any other GST amount by applying for a GST refund within 2 years from the due date. In this article, we look at the process of obtaining GST refunds and non-refundable input tax credit under…

In terms of Section 2 (119) of the CGST Act, 2017 as a ‘work contract’ means a contract of construction, building, fabrication, completion, fitting out, installation, erection, development, repair, renovation, modification, alteration, maintenance, or authorization of any immovable property where the transfer of goods (either by goods or otherwise) is involved in the execution of…

Section 39 of the Central Goods and Services Tax (‘CGST’) Act, 2017 provides that every registrant is required to complete a monthly electronic return. Details such as the outward and inward supply of goods or services, taxable input tax available, taxable payable, taxable paid, etc. are required to be announced in that return. However, a…

In the 21st Century, “Influencers” have almost the same recognition as TV personalities. Moreover, when we hear the word Influencer we correspond it with Instagram. We are engaged in social media every day. Further, most of us are eager to keep up to date with every post from our favourite influencers. Are you an Influencer? Moreover, due to…

Every taxpayer has to file their Income Tax Returns (ITR). Further, every businessman has to pay their GST returns. Moreover, they have to do so in time. On filing, if there is any inconsistency or error present in the information declared, the tax officers will conduct a scrutiny of your GST returns. In this article, we will discuss,…

India ranked 8th in terms of revenue from the e-commerce market and its growth in 2020. While the importance of the electronic marketplace, namely e-commerce, will never diminish soon, domestic tax laws are a matter of great confusion. The GST regime has made perception of complexity in understanding the e-commerce system in India. This article…

Any litigation under various tax laws, including the GST, may take a long time. Dependence on any measures may delay the receipt of government revenue. In addition, the taxpayer may transfer his property to another person before the end of the case. To protect profit interests during the suspension of any measures, the government has…

Page 1 of 111 2 3 11

Copyright © 2022 Goyal Mangal & Company.