Prior to the implementation of the Goods and Services Tax (GST) regime, there existed a multitude of taxes such as excise duty, services tax, customs duty, surcharges, and State-level Value Added Tax (VAT), among others, that were imposed on the provision of goods and services. However, the current indirect taxation system in India is GST. … Read more
Accurate filing of GST returns is essential to avoid reconciliation issues and ensure compliance. This article provides an overview of GST Common Mistakes to avoid. GST Common Mistakes to avoid Providing Incorrect Invoice Details One of the key errors businesses often make when doing GST Return Filing is offering inaccurate information on invoices. To prevent … Read more
The upcoming 50th GST Council meeting on July 11 will address key matters like GST on online gaming and combating fake input tax credits. The council aims to develop a comprehensive plan for the GST Appellate Tribunal (GSTAT) during the meeting. GST Council to Focus on Online Gaming in Upcoming Meet Finance ministry officials have … Read more
The Central Board of Indirect Taxes and Customs (CBIC) has recently issued comprehensive guidelines for the GST Registration Process. As a result of these guidelines, the GST Registration norms have become more rigorous especially for applicants categorized as ‘High Risk’. Government Takes Steps to Crack Down on Fake GST Registrations Instances have emerged of dishonest … Read more
Crocs, a popular footwear brand known for its comfort and versatility, has been gaining traction among Indian consumers. As a business owner or entrepreneur in the footwear industry, it is crucial to understand the importance of complying with the Goods and Services Tax (GST) regime in India. In this article, we will explore the significance … Read more
When it comes to running a lawn care service, understanding the nuances of tax obligations is crucial for both compliance and business success. One such obligation is Goods and Services Tax (GST) registration, which is an essential step for lawn care service providers in India. In this comprehensive guide, we will explore the ins and … Read more
T-Shirt Printing Business has become a popular choice in India. Because of its low-cost investment and large demand, T-Shirt Printing Business is on the rise. But do you know there are some essential requirements to run or start a T-Shirt Printing Business? One of the major requirements is GST Registration. You need GST Registration for … Read more
During the initial week of a special drive to detect fake GST Registrations, officials from both central and state goods and services tax departments uncovered approximately 10,000 fraudulent GST registrations. This is a clear indication that you need to get GST Registration through the proper legal process. Otherwise, there can be serious consequences damaging you … Read more
Advanced Analytics in Indirect Taxation (ADVAIT) data has revealed that 24 large importers have evaded ₹11,000 crore in Integrated Goods and Services Tax (IGST). ADVAIT is a data analytics tool that is used by the Indian government to track and monitor indirect taxes. The tool uses artificial intelligence and machine learning to identify patterns and … Read more
The world of GST Annual Return Filing is complex for many people. As a business, Having GST Registration, it is mandatory for you to file your annual return. However, if you are lost and don’t know about it, do not worry. In this blog, we will guide you through the basics of Annual GST Return … Read more