A Comprehensive Guide to Waiver of Interest and Penalty
The Invoice Management System (IMS) is a revolutionary new feature introduced on the GST Common Portal.
The GST Council, in its recent meeting, introduced several changes and clarifications to the Goods and Services Tax (GST) regime.
Starting from October 1, 2024, a new Invoice Management System (IMS) will be implemented to streamline the process of matching invoices issued by suppliers and claiming Input Tax Credit (ITC).
This article aims to shed light on this issue, analyzing relevant case laws and providing a comprehensive understanding of the prevailing legal position.
This article provides a detailed analysis of Section 14 and its implications for businesses.
Understanding your residential status for tax purposes is crucial in India. For individuals and entities operating in the ever-evolving tax landscape of India, determining residential status is paramount. Section 6 of the Income Tax Act, 1961, serves as the cornerstone for navigating this crucial aspect.
The Central Goods and Service Tax (CGST) Act introduced Rule 86B vide Notification number 94/2020 dated 22nd December, 2020. Rule 86B is made effective from 1st January 2021 curb the menace of fake invoicing and tax evasion.
The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.
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.
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)