Goods & service tax

This article includes the following key pointers: What is an Input Service Distributor (ISD)? Distribution Procedure under Section 20 of the CGST Act, 2017 changes Conditions…

In May 2024, significant advancements were observed in The Goods and Service Tax landscape, indicating a strong economic performance alongside intentional initiatives aimed at improving the…

The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme The Government’s RoDTEP scheme, aimed at reimbursing various embedded taxes and duties on exported products.…

This article includes the following key pointers: What is Corporate Guarantee? Corporate Guarantee VS Bank Guarantee GST applicability on Corporate Guarantee Corporate Guarantee by Indian Holding…

IntroductionThe concept of “Place of Supply” is pivotal in the Goods and Services Tax (GST) regime as it determines the jurisdiction under which a particular transaction…

GST registration is a legal requirement for businesses with an annual turnover beyond a certain limit. Registering not only ensures compliance but also assures legitimacy to…

Introduction Discounts form an integral part for the suppliers for incentivizing sales. Offering discounts to customers, retailers or to whomsoever the supplier is selling the goods…

This article includes the following key pointers: Introduction Rule 9. Verification of the application and approval Rule 10A. Details of bank account on the common portal…

Introduction Composition Scheme is a scheme introduced in order to benefit small taxpayers. This scheme is applicable to businesses whose annual aggregate turnover in the previous…

Dealing with differences of ITC in GSTR-2B VS GSTR-3B On 4th August, 2023, the Central Board of Indirect Taxes and Customs vide Circular No.38/2023 had notified…

This article includes the following key pointers: Introduction Changes in rate of tax of motor vehicles ABATMENT FOR THE SUPPLY OF USED CARS Taxable Value as…