Reverse Charge Mechanism was first introduced in the Service Tax Law. Now, the Government has incorporated RCM in GST.
GST Interest and Penalty Waiver Scheme allows eligible taxpayers to get a waiver on interest and penalties for GST demand.
Discover the transactions classified under Schedule III of the CGST Act that are treated neither as supply of goods nor services, including employee services, constitutional duties, funeral services, land sales, and more.
(A) Any trade, commerce, manufacture, profession, vocation, adventure, wager, or any other similar activity, whether or not it is for a pecuniary benefit.
Bank Account Validation on GST Portal ensures proper refund crediting. Check how to add bank a/c details with GSTNs new validation process.
Discover crucial e-invoicing GST trends for 2025 in India. Learn about new mandatory requirements, MFA, and E-Way Bill changes. Prepare your business now!
"Taxable event" is that on happening of which the charge is fixed. It is that event which, on its occurrence, creates or attracts the liability of tax.
The cess on petroleum products paid by a manufacturing company to the transporter of input goods becomes part of the cost of sales, as it cannot be claimed as Input Tax Credit (ITC).
The Consent Letter is a formal letter provided by the property owner giving permission for you to use their premises for business activities. This letter is essential if your business address is rented, leased, or located in a shared space.
This note explores critical GST aspects requiring thorough examination during bank audits, offering insights into potential compliance pitfalls and best practices.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English