Why Is ITC Not Applicable On Paver Blocks?
Introduction To Input Tax Credits (ITC): Input Tax Credit (ITC) is the credit that firms can avail of for the tax paid on their purchases, and it serves as a…
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January 23, 2024
What Impact Has GST Had On The Real Estate Sector?
Introduction To GST In Real Estate: The implementation of GST in India in July 2017 was a landmark tax reform that subsumed several oblique taxes at the relevant and national…
January 23, 2024
What Is Ambivalence Under GST?
Introduction To Goods and Services Tax (GST): The Goods and Services Tax regime employed in India on July 1, 2017, is one of the most ambitious and complex indirect tax…
January 23, 2024
Unlock the Secrets to GST Success: Top Mistakes to Avoid and Smart Strategies for Indian Businesses
Introduction To GST Errors: Filing GST in India can be tricky with all the different deadlines and paperwork involved. It's no surprise that many firms, especially smaller ones, accidentally miss…
January 23, 2024
What is Blocking And Unblocking? e-Way Bill System
Introduction to The E-Way Bill: The implementation of GST in India brought forth the e-Way Bill device, an essential element designed to monitor and alter the motion of products. This…
January 23, 2024
Everything You Need to Know About the Emergence of GSTR 2B
Introduction To GSTR 2B: Since its inception in 2017, the Goods and Services Tax has extensively transformed the landscape of indirect taxation in India. Central to the GST go-back submitting…
January 23, 2024
Taxability of a Salary Paid to an Ex-Pat
Introduction To Salary Payments To Expatriates: When an individual works overseas for a period, their tax residency status and the tax implications on their salary become pivotal considerations. As per…
January 22, 2024
Understanding GST On Supply Of Water: Regulations, Implications, And FAQs
Introduction to GST on the Supply of Water: The imposition of GST on industrial water supply indicates a shift toward transparency and formalization, aiming to streamline the sector and enhance…
January 22, 2024
What Is A Joint Development Agreement (JDA) Under GST?
Introduction To The Joint Development Agreement (JDA): A joint development agreement is an arrangement between two or more events to mutually develop a real property undertaking. Typically, the landowner offers…
January 22, 2024
What Does E-Way Bill Integration with Toll Plazas Mean?
Introduction To E-Way Bills And Toll Plazas: E-way bills and toll plazas play interconnected roles inside the realm of GST for the transportation of goods. E-way bills, digital files vital…
January 20, 2024
Appeal Process Under GST: A Robust Mechanism To Resolve Tax Disputes
A Quick Overview Of GST Appeal Procedure: The GST system was implemented as a real game-changer in India's indirect taxes in 2017. After consolidating numerous distinct taxes into one, it…
January 8, 2024
Chartered Accountancy: Navigating Financial Expertise and Responsibilities
Introduction To Chartered Accountancy: Being a chartered accountant is a highly respected profession. As the financial experts that companies rely on daily, CAs take on significant responsibilities. They guide organizations…
January 8, 2024
What Will Be The Cryptic Future Of Cryptos Under GST?
Introduction To Cryptocurrencies: Digital currencies including Bitcoin and Ethereum have taken off significantly in the last 10 years. Using blockchain, they let people transfer money directly without banks being in…
January 8, 2024
Keep A Check: Are Your Details Being Used To Create Bogus Entities?
Introduction: With all the data breaches happening, it's becoming more common for crooks to use stolen identities to set up fake businesses. These phony shell companies and LLCs are made…
January 8, 2024
How To Pay Your TDS Liability In GSTR-7 Part 2?
Tax deducted at source is a pivotal part of GST compliance for taxpayers who are required to deduct TDS on certain purchases. The TDS deposited must be reported in the…
December 27, 2023
Can you claim ITC on marketing promotion expenses?
Input tax credit is an incredibly powerful tool in business, marketing, and promotions. The article will let you understand ITC, its benefits, how to claim it, its effect on businesses,…
December 15, 2023
How to Avoid Blocked Credit?
Goods and Services Tax (GST) has brought a big change in the Indian Taxation system. It played a major role in simplifying and preparing a proper framework of indirect taxes. …
December 15, 2023
How To Calculate The TDS Liability in GSTR-7 Part 2?
Certain categories of taxpayers in the GST regulatory framework will be directed to deduct tax at source from payments to suppliers and vendors above a specified threshold. This TDS amount…
December 15, 2023
What Is Included In GSTR-7 Part 2?
GSTR-7 consists of two parts detailing various aspects of Tax Deducted at Source (TDS)-related information. While Part 1 covers the summarized TDS liability and settlement, Part 2 focuses primarily on…
December 15, 2023
What Are The 9 Common Mistakes To Avoid While Filing GSTR-7?
Filing an error-free GSTR-7 every tax period will be pivotal for the smooth GST compliance of a business. However, ensuring accuracy amidst ever-changing regulations and formats is challenging. Even minor…
December 15, 2023
Filing GSTR-7: A Complete Guide to GST TDS Compliance
Filing GSTR-7, the monthly tax return for collections made on behalf of the government is a pivotal compliance requirement under GST. The GST is an indirect tax applicable to the…
December 14, 2023
What Is GSTR-7?
Introduction: Under India’s Goods and Services Tax regime, several returns have been introduced for taxpayers from different categories to report their business transactions. One of them is GSTR-7, which is…
December 14, 2023
How To Calculate Input Tax Credit (ITC) In GSTR-5 Part 2?
Introduction: The input tax credit (ITC) mechanism under GST permits taxpayers to claim credit for taxes paid on business purchases and expenses. The ITC helps avoid the cascading effect of…
December 14, 2023
How To Pay Your Output Tax Liability In GSTR-4 Part 2?
The Goods and Services Tax has streamlined indirect taxation in India. Under this regime, registered firms will file their monthly or quarterly returns that summarize their tax liabilities. GSTR-4 is…
December 12, 2023
How To Calculate Output Tax Liability In GSTR-4 Part 2?
The Goods and Services Tax has made fundamental changes in how firms calculate their tax liability. The GSTR-4 return form applies to all Composition Scheme registered taxpayers. Accurately estimating output…
December 12, 2023
What Is Included In GSTR-4 Part 2?
The Goods and Services Tax has introduced a structured tax compliance system for all registered firms in India. Under this, composition taxpayers who have opted for the composition scheme file…
December 12, 2023
Common Mistakes To Avoid When Filing GSTR-4
The Goods and Services Tax has centralized and streamlined indirect taxation in India by employing a broad-based system spanning goods and services. Under GST, certain small taxpayers shall opt for…
December 12, 2023
How To File GSTR-4?
Filing GSTR-4 might appear as a daunting task for composite taxpayers and casual taxable persons. However, following some pivotal steps and strategies might help you simplify the process. This comprehensive…
December 12, 2023
What Is Included In GSTR-5 Part 2?
Introduction: The Goods and Services Tax regime in India has mandated several returns for taxpayers to report their transaction details, discharge liabilities, and claim eligible credits periodically. One such form,…
December 12, 2023
What Is GSTR-5?
Introduction: The advent of GST in India has led to the creation of multiple return filing forms to ease compliance for distinct taxpayer groups based on their business models. While…
December 12, 2023