GST was implemented with several unique provisions which intended to reduce the complexities of pre-GST era. One of such provision stated in rule 46 of CGST rules, 2017 which conferences about unique series of invoice under GST. As per law,a…
POEM in India: A New Perspective (Part-1)
Taxation of business profits on the basis of economic adherence has always been the underlying basis of existing international taxation rules as both the residence and source countries claim the right to taxation. Economists gave primacy to the economic allegiance…
MSME (Micro, Small and Medium Enterprises)
Understanding MSME as per the Law: The Government of India has devised the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 on 02nd October, 2006. As per the Act, categorization of enterprises is done into micro, small and medium enterprises based…
Inter-State Supplies to Unregistered Persons shall Report as Mandated by Law Table 3.2/ GSTR-3B & Table 7B/ GSTR–1
Under GST regime, separate returns namely GSTR-1 & GSTR -2 respectively were designed for reporting of sale and purchase details. But due to teething problems under GST law, GSTR -2 did not materialised since its inception. Also,initially GST law makers…