In a bid to curb revenue leakage within the tobacco manufacturing sector, the Indian government has introduced a significant amendment to the Central GST Act.
While Section 50 of The CGST Act was retrospectively amended to provide that there would be no interest liability on delayed filing of GSTR-3B to the extent of balance in The Electronic Credit Ledger
Exporting goods and services can have a significant positive impact on businesses of all sizes. The chance to access a diverse range of potential clients by tapping into a sizable global market is one of the main advantages.
GST on mobile phones is a consumption tax levied on the selling price of the phone. The taxes generated are paid to the government to streamline taxation and replace multiple indirect taxes.
The Goods and Services Tax (GST) regime in India, a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout the country, has streamlined the taxation process.
Where a registered person fails to furnish monthly or quarterly returns under Section 39 or the final return under Section 45, a notice in Form GSTR-3A shall be issued by the proper officer requiring him to furnish such returns within 15 days under Section 46.
Reverse Charge Mechanism (RCM) and Forward Charge Mechanism (FCM) are two different methods of levying tax on goods and services. RCM is a system in which the recipient of goods or services is liable to pay tax to the government instead of the supplier.
A event of uncertainty and financial paralysis engulfed Guntupalli Marble and Granites (GMG) in November 2023 when the GST department froze their bank accounts...
In the era where Artificial Intelligence is gaining prominence, the GST department has also become pro-active and has started to adopt automated notices. The last one and half years has seen a sudden rise in litigation.
Under GST Amnesty Scheme, specified GST taxpayers who disagree with a GST tax demand order issued under Section 73 or 74 are eligible for the GST Amnesty Scheme and can file an appeal till January 31, 2024.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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