GST Articles

GST Applicability on Supply during the Warranty Period

Posted by CA Amit Harkhani 07 September 2024 1324 Views

GST Liability & ITC Reversal: Replacement of Parts or Goods as such and Repair Services Provided by the ManufacturerGST Liability on Replacement of Parts or...

Penalties for Not Obtaining a New GST Registration Number on Time

Posted by Ishita Ramani 07 September 2024 1988 Views

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.

Introduction of Invoice Management System (IMS) on GSTN Portal

Posted by Affluence Advisory 06 September 2024 359 Views

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.

Key Updates: Invoice Management System (IMS)

Posted by CA. Bhavik P. Chudasama 04 September 2024 409 Views

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).

September GST Filing Updates: Important Changes to Note

Posted by Chaitra Seetharam 04 September 2024 2484 Views

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

When to Create a New GST Registration Number for Your Business

Posted by Ishita Ramani 04 September 2024 190 Views

Comprehending the need and timing of obtaining a New GST Registration Number is critical for upholding felony compliance and streamlining business approaches.

GST Taxability of Salvage/Wreck Value in Motor Vehicle Damage Claims

Posted by CA Amit Harkhani 03 September 2024 264 Views

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.

No ITC reversed for the portion of the LIC premium not included in the taxable value, as per Rule 32(4)

Posted by CA Amit Harkhani 03 September 2024 229 Views

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.

The Evolution of Taxation in India: From Ancient Times to GST

Posted by akansha Singh 02 September 2024 1715 Views

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.

GST on Passenger Transportation in EVs and Renting of EVs

Posted by Shashank Tellakula Anand 31 August 2024 1474 Views

GST on Passenger Transportation in EVs and Renting of EVs Renting v/s Transportation of Passengers:As per Circular No. 177/09/2022-TRU Entry 15:Renting of moto...