E-invoicing under GST might seem complex at first, but it’s the new way for many Indian businesses to send bills electronically. It helps the government keep track of transactions but skipping it can create a chain reaction of issues for your company. Penalties are just the beginning! Here’s why staying on top of e-invoicing is…
Thе Goods and Sеrvicеs Tax (GST) was introducеd in India in 2017, It mandatеs the rеgistеrеd taxpayеrs to filе rеgular rеturns to dеclarе thеir taxablе suppliеs and tax liabilitiеs. Howеvеr the situations arisе whеrе taxpayеrs fail to comply with this obligation? Sеction 62 of CGST Act (Cеntral Goods and Sеrvicеs Tax) 2017 dеals with thе…
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….
GST Amendments in the Interim Budget: Budget Day is a highly awaited occasion in India, where both enterprises and the common people anxiously anticipate comprehending the programs and Endeavours that may offer them potential advantages. In consideration of the upcoming elections, the Interim Budget 2024 has been replaced with an Interim Budget for this year….
In India, the Goods and Services Tax (GST) system is constantly evolving to enhance efficiency and accuracy. There is one such facet gaining prominence is GEO-Coding in Address Verification, which is designed to refine the recognition and validation of taxpayer addresses. The present article will provide you with the essence of GEO-Coding in address verification…
The recent ruling issued by the respected Delhi High Court Upholds GST Refund in the matter of Indian Oil Corporation Limited has determined that the Central Goods and Services Tax Commissioner and other related individuals has important implications for refunds under the GST system. The petitioner was granted a favourable ruling by the court. This…
A recent enhancement in the taxation system will lead taxpayers an equipped tool, which is valuable and known as the ability to file revised Goods and Services (GST) returns. These returns will be executed from 2025, it is a transformative change to streamline the tax filing procedure and also empower entities along with individuals. In…
In the world of online services, it’s essential to know about OIDAR (Online Information and Database Access or Retrieval) services. These are services you get online, like accessing information or databases, and they pose special challenges in terms of taxes. With technology changing how services reach us, OIDAR services have become a big part of…
Navigating the compliance of Goods and Services Tax (GST) is a vital term for enterprises in India. Among the several GST returns, GSTR-3B holds specific importance as a monthly summary return. Within this return, Table 4 plays a crucial role generally focusing on Input Tax Credit (ITC). As enterprises are actively working for efficiency and…
In a crucial move to tax compliance and enhance transparency, the Indian government has introduced a mandatory 6-digit Harmonized System of Nomenclature code needed for taxpayers with an Aggregate Annual Turnover (AATO) of 5 crore or above. The regulation is effective from the 15th of December, 2023, and aims to modernize the invoicing system and…