The Goods and Services Tax (GST) implementation aimed at unifying taxation across India, simplifying compliance procedures, and facilitating business operations. Initially, the registration process, governed by section 9(5), mandated a swift turnaround of 3 working days for the verification of applications by the designated authority....
In accordance with notification number 12/2017, entry number 12 dated 28th June 2017, rental income derived from leasing residential dwellings for residential purposes enjoys exemption from GST without any conditions or limitations. However, when residential properties are leased out for business purposes, they fall under...
In the realm of electronic commerce (e-commerce), the application of Goods and Services Tax (GST) holds significant implications. This tax regime extends to electronic commerce operators (ECOs), defined as entities directly or indirectly managing electronic platforms facilitating the exchange of goods, services, or related information....
In the realm of Goods and Services Tax (GST), GSTR-10 holds significant importance for registered taxable individuals opting for the cancellation of their GST registration. This comprehensive blog delves into the intricate details surrounding GSTR-10, shedding light on its applicability, due dates, formatting requirements, and...
Within the framework of Goods and Services Tax (GST), GSTR-4 emerges as a pivotal component, specifically tailored to cater to taxpayers enrolled in the Composition Scheme. This article endeavors to delve into the fundamental aspects of GSTR-4, elucidating its filing procedures, structure, eligibility prerequisites, and...
In the realm of Goods and Service Tax (GST), questions often arise about the taxability of various forms of advances. This blog aims to provide clarity on this matter by examining the relevant provisions of the law....
During the timeline leading up to April 1st, 2020, the Central Board of Indirect Tax and Customs (CBIC) issued a notification concerning the mandatory Aadhaar authentication for GST registration....
Late fees are a common concern for registered entities under the GST regime. Failure to file GST returns promptly can result in financial penalties under Section 47 (2) of the CGST Act, 2017. ...
In the realm of Goods and Services Tax (GST), the Matching Concept stands as a pivotal element governing Input Tax Credit (ITC). This principle dictates that the ITC claimed by the recipient for inward supplies is only validated if it corresponds with the outward supplies...
In the landscape of GST implementation, a significant dilemma emerged concerning whether the payment process concludes solely upon clicking 'Offset of liabilities' or if GST payment is finalized upon depositing the tax amount in the Cash Ledger (CL). The early stages of the GST portal...
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