Big Updates from the 54th GST Council Meeting: Key Changes You Need to Know!
GST Liability & ITC Reversal: Replacement of Parts or Goods as such and Repair Services Provided by the ManufacturerGST Liability on Replacement of Parts or...
The consequences of failing to obtain a New GST Registration Number in a timely manner are discussed in this article, which also highlights how crucial compliance is for businesses.
A new functionality will be introduced on GSTN portal w.e.f. 1 October 2024 which will require the recipient of goods or services to match the invoices/records with the details uploaded by supplier for availing ITC.
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).
As per Notification No. 12/2024- Central Tax dated 10 July, 2024 published by the Central Board of Indirect Taxes and Customs (CBIC), major changes in the GST Act will have an impact in the GST returns filing
Comprehending the need and timing of obtaining a New GST Registration Number is critical for upholding felony compliance and streamlining business approaches.
The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the cost of repairs/damages of motor vehicles incurred by the policyholders.
Life insurance companies provide services by insuring the life of the insured. In exchange, they charge a premium, which may include components for both risk cover and investment/savings.
Over the decades, there has been a significant change in the practice of charging income tax. Let us look into the history of income tax from ancient times.
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