Chartered Accountants
Chartered Accountants
Even after four years of GST implementation and over a thousand notifications and circulars, we continue to encounter several issues with GST on-site maintenance and department operations. Businesses and professionals encounter several challenges as a result of issues and constant change. It is terrible that even after four years; we are still expecting and hoping …
How to reply notices of mismatch of GSTR 3B & 2A Read More »
Power, or electrical energy, is an important source of revenue for state governments because it is under the state list of the Constitution, and they collect electricity costs from users. This is one of the most disputed problems, whether it is considered a good or a service, and if GST applies to it. Furthermore, whether …
There was a constant tug-of-war between the departmental officer and the GST registrant regarding the claims for refund of input services in case of an inverted duty structure. Remarkably, due to conflicting views of two High Courts, the matter even reached the Supreme Court. After the Supreme Court’s observation that resulted in the recommendation of …
The introduction of GST has brought a positive impact on the automobile sector. Previously, traders could not claim credit for excise duty and VAT paid, which would further increase the cost of purchases. However, GST has eliminated the cascading effect of taxes, reducing the price of cars. Effects on the price of a car due …
The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. GST stands for Goods and Services Tax. Goods and Service Tax (GST) is a type of …
Under the GST Regime, assessees are required to obtain registration under the GST Act based on their aggregate turnover. All taxpayers (suppliers of goods and services) are granted a threshold exemption. If the total turnover exceeds this threshold limit, registration under GST is mandatory. Concept of Interest Income Interest income is the amount you earn …
According to a government proclamation dated March 31, proposed changes to the 45th GST Council Meeting on building bricks, clay tiles or roofs, fly ash bricks, and petrol bricks took effect from April 1, 2022. Implications of the new system on GST No composition scheme Benefits – From 1 April 2022 suppliers are not entitled to the previous composition scheme. …
Under the GST Regime, assessees are required to obtain registration under the GST Act based on their aggregate turnover. All taxpayers (suppliers of goods and services) are granted a threshold exemption. If the total turnover exceeds this threshold limit, registration under GST is mandatory. interest on late payments doesn’t have the necessary elements to consider …
The poultry business produces countless work opportunities in the nation and is vital for the public economy. The poultry business is to a great extent absolved by the provisions of the Central Goods and Services Tax Act, 2017. Sale of Poultry eggs Poultry Eggs are covered under Chapter 4 of Section I under heading “Dairy …
Sections of central goods and services act 2017 Particulars SECTION 1 of central goods and services tax act 2017 Short title, extent and commencement SECTION 2 of central goods and services tax act 2017 Definitions SECTION 3 of central goods and services tax act 2017 Officers under this Act SECTION 4 of central …