When we buy goods or services, we usually pay the price advertised plus any applicable taxes. However, the taxes that we produce are not always obvious, as they can be hidden in the price or added as a separate charge. These taxes are known as indirect taxes and are an essential revenue source for governments…
Compliance with GST regulations is mandatory and essential for businesses to unleash the benefits of GST fully. In this blog, we’ll explore the benefits it brings to companies. Improved cash flow: GST compliance can help businesses improve their cash flow by claiming the input tax credit. The input tax credit is the credit available to…
GST is a value-added tax system levied on the supply of goods and services. It is a destination-based tax system, meaning the tax is collected in the state where the goods or services are consumed. GST is charged at every supply chain step, from manufacturing to consumption, and is managed by the government through input…
As a business owner, managing taxes can be a daunting task. With the ever-changing tax laws and regulations, it’s easy to make mistakes that could cost you time, money, and even legal issues. It is where GST Consultants come in; they can help streamline your taxes and provide expert guidance to ensure your business remains…
Refund has always been considered as the most peculiarized feature of GST regime. The mechanism of sanctioning refund is an essential process as it facilitates trade through release of blocked funds. Refund of ITC is an integral part of GST. Due to technicalities involved, numerous efforts have been made to streamline and standardize the whole…
