India initiated the Goods and Services Tax (GST) on 1st July 2017, aiming to streamline the taxation process. Among the various tax schemes introduced under GST, the Margin Scheme stood out. Let's delve into its intricacies....
The construction industry, a vital sector of the economy, underwent significant changes with the implementation of the Goods and Services Tax (GST). Formerly, intricate tax provisions governed construction activities, complicating the taxation process. With the advent of GST, aimed at streamlining taxation across various sectors,...
Under the GST regime, taxpayers have the opportunity to claim refunds on taxes, interest, or other GST amounts paid by submitting a GST refund application within two years from the due date. This blog delves into the intricacies of obtaining GST refunds, particularly focusing on...
Navigating through the complexities of Goods and Services Tax (GST) entails a comprehensive understanding of various exemptions and thresholds, particularly concerning pure services provided to government bodies and public authorities. This article delves into the intricacies of GST exemptions on pure services and elucidates the...
E-commerce businesses find themselves in a unique position under the Goods and Services Tax (GST) regime, thanks to provisions like Tax Collection at Source (TCS). The definition of e-commerce under GST encompasses a wide range of digital transactions involving goods, services, and digital items....
In a bid to bolster GST collections, the Directorate General of GST Intelligence (DGGI) has initiated investigations into the operations of 18 foreign shipping lines with offices in India....
Since its inception on July 1, 2017, the Goods and Services Tax (GST) has revolutionized India's tax system, replacing previous indirect taxes like VAT, Excise duty, and Service tax. Royalty denotes payments made by one entity to another for utilizing intellectual property such as patents,...
GSTR-6 return filing involves the submission of the GSTR-6 form, an essential component of the Goods and Services Tax (GST) system in India. This form is filed by Input Service Distributors (ISDs) to report the particulars of inward supplies received and the distribution of Input...
GSTR-5 stands as a crucial return within India's Goods and Services Tax (GST) framework. It specifically caters to non-resident foreign taxpayers engaged in offering taxable services within the Indian territory. This return serves as a pivotal tool for these taxpayers to disclose their business activities...
In India's Goods and Services Tax (GST) system, it's crucial for businesses to diligently adhere to tax regulations by consistently filing returns. One such return, GSTR-2, holds significance as it centers on reporting inward supplies or purchases during a designated tax period. Precise completion of...
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