In the Goods and Services Tax (GST) system, whether a supply is classified as intra-state or inter-state depends on the locations of the supplier and the recipient. This classification determines whether integrated tax or a combination of central and state tax is paid.
The allocation of GST numbers and rates, the functioning of GST Suvidha Centers, and the implementation of GST have been tough tasks. In this article, we'll discuss the main problems and how they impact businesses.
This article will guide you in learning more about GST for commission agents and brokers.
This article delves into the eligibility of ITC on motor vehicles, with a particular focus on exceptions for vehicles exceeding 13 seating capacity and the scenario of renting motor vehicles.
Through this comprehensive walkthrough, taxpayers will find essential insights into adhering to the new compliance mechanisms, thereby mitigating the risk of tax credit discrepancies and ensuring smoother tax operations.
"Export of goods" as per Sec 2(5) of The IGST Act, 2017 with its grammatical variations and cognate expressions, means taking goods out of India to a place outside India.
As we all are aware Hotel Industry is one of the dominating Industries in India Having Market size(2024) of 247.31 Billion USD & which will be around 475.37 Billion USD by 2029 with CAGR of 13.96%. Pre-GST Hotel industry need to pay municipal taxes (VAT, luxury tax, and service tax) under the previous VAT regime.
GST audits are regularly undertaken by the department under Sec 65 of the CGST Act. These audits are conducted by the department either at their own premises or at the premises of the taxpayer.
A Show Cause Notice is a significant instrument in maintaining due process within organizations, courts, and various administrative actions. It serves as a formal communication requiring an individual to explain or justify their actions or conduct, which is allegedly in violation of company rules or codes of conduct.
The Goods and Services Tax (GST) Department has recently sent out an advisory to specific GST taxpayers about the first chance given to correct errors in their previously filed GSTR-3B forms. This facility was provided due to discrepancies found between the data stored in the GST system and the data that was actually submitted regarding ITC claims, tax payments, etc.
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