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…
Goods and Services Tax has been a game-changer in the Indian taxation system since its implementation in 2017. It has streamlined the country’s indirect tax structure, making it more straightforward for businesses to comply with tax laws. However, with the introduction of GST comes the need for GST audits. A GST audit is a method…
Goods and Services Tax is a tax reform introduced in India to bring uniformity and standardization to the indirect taxation system. GST is a self-assessed tax regime where taxpayers are responsible for maintaining accurate records and filing returns on time. To ensure compliance with GST regulations, businesses are required to undergo GST audits. A GST…
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…
As we discussed in our previous blog about the validity of Rule 89, at last, we have discussed the Gujrat High Court Judgement Interpretation. Now, we are continuing our article with Madras High Court Judgement Interpretation. Madras High Court Judgement Interpretation: – After witnessing divergent judgments by different High Courts, such a case attracted the…
Under any law, the scope for litigation on certain provisions always exists. Some of the provisions requiring less clarity or arguments get settled at the lower court, however, certain provisions are unconstitutional or violative to the rights of the taxpayers which attracts the attention of the High Courts or in some cases, the Apex court…
What is Sexual Harassment? As an individual, we all knew the meaning of sexual harassment but according to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the sexual harassment includes any one or more of the following unwelcoming acts or behaviours (whether direct or indirect) namely:- physical contact and advances;…
The ongoing pandemic has disrupted the businesses in India adversely wherein taxpayers are avidly expecting certain exemptions which could offer them the ease of doing business. On the flip side, one among the authorities of Advance Ruling (AAR) has ruled that GST liability must be discharged under reverse-charge mechanism on the amount of interest calculated…
