When you apply for company registration in USA with the IRS, the default will be a C Corporation registered. However, many businesses later decide to transform into S Corporation due its tax and other various benefits. Having a C Corporation can be tough on small businesses because they might have to pay taxes twice due … Read more
The Goods and Services Tax Network (GSTN) has mandated that businesses with a turnover of over Rs 100 crore must upload e-invoices on the Invoice Registration Portal (IRP) within seven days of issuance. The move is aimed at improving tax compliance and reducing tax evasion. Let’s understand the latest updates regarding the strict deadline issued … Read more
There have been various disputes regarding levy, valuation, classification, creditability, refunds etc since the introduction of GST. Furthermore, every GST matter can not be assigned to High Courts since they may not have specialised branches. Similarly, there has been long pendency in judicious disposal of cases. Finally, the taxpayers also faced delayed justice and other … Read more
Indian officials have announced that the government will extend the expanded duty remission scheme for exporters beyond the September deadline. This move will provide relief to the pharmaceuticals, steel, and chemicals sectors, which have been facing various challenges recently. Let’s know about the latest updates on the export duty refund scheme further extended. Government Extends … Read more
In today’s digital age, laptops have become an indispensable tool for individuals across various fields such as business, employment, and education. As technology continues to reign supreme, it’s crucial for us to consider the potential impact of GST on laptops and computers. Let’s get the detailed info on GST Rate for Computers and Laptops through … Read more
If you’re a business owner or a tax professional, it’s important to stay up-to-date with the latest regulations and advisories related to the Goods and Services Tax (GST) in India. Recently, the GSTN released an advisory related to the reporting of HSN codes in e-invoices on the IRPs portal. In this post, we’ll understand all … Read more
As the barcode turns 50, it’s hard to imagine a world without those familiar vertical lines adorning every item in the supermarket. The barcode registration revolutionized retail, enabling speedy and efficient checkout processes and facilitating the globalisation of commerce. Today, the trademark beep of a product being scanned is heard six billion times a day … Read more
It’s important to keep track of your GST Registration. Furthermore, failure to do GST Return Filing on time can result in cancellation of GST Registration. This is a major setback for any company. However, there is good news. The government has recently announced that businesses whose GST registrations were cancelled can now apply for revocation … Read more
The government has set a cap on the maximum rate of GST compensation cess for tobacco products such as pan masala and cigarettes. So, This article explores the impact of the government’s decision for the GST Cess limit on tobacco and Pan Masala. Government Caps GST Cess Limit on Tobacco and Pan Masala As part … Read more
Get ready to spice up your knowledge on GST rates! The GST Council has announced the rates for sugar, salt, chocolate, and spices, and we’ve got all the details for you. With GST rates based on the internationally recognized HSN code system, which is used by over 200 countries, these rates are categorized into five … Read more