Online business owners or E-Commerce operators who are responsible for collecting Tax Collected at Source (TCS) under GST are also now required to register for GST, under a new regulation. Let us understand the important information relating to GST Registration for E-Commerce collecting TCS. Understand about the GST TCS Regulations on E-Commerce An entity that … Read more
The term “co-operative housing society” refers to a legal entity formed in accordance with state co-op regulations. Housing societies are defined by the Maharashtra Co-operative Society Act, 1960, Section 2(16), as organizations whose primary purpose is to provide members with open plots for housing, dwelling houses, or flats; or, if such properties have already been … Read more
There has been a change in the form of indirect taxes in India since the introduction of the Goods and Services Tax (GST) on July 1, 2017. The GST is a comprehensive tax that replaced all the previous indirect taxes, including the Central Sales Tax (CST), State Sales Tax (SST), Service Tax, etc. This article … Read more
You may register for GST freely under Goods and Services Tax regulations, even if there is no legislative necessity to do so. Regardless of whether or not they meet the minimum threshold requirements, any firm that offers goods or services can voluntarily register for GST. If you want to learn more about GST Registration on … Read more
Since the government made the announcement of GST rates vehemently, there has been much confusion in the market. There is much confusion regarding GST registration, GST billing, and GST return filing. It’s important to register your counseling or consultancy business under the GST. Therefore, you must understand the GST structure applicable to this concept and … Read more
The GST replaces the old state and national indirect tax structure. The GST is charged on a broad variety of goods, such as food, drink, apparel, technology, and accessories. Many stationary goods, such as paper, pens, and pencils, are also subject to the goods and services tax. This article will discuss the GST on Stationery … Read more
The transfer or succession of a firm is a common occurrence in business, and numerous tax regulations have addressed this issue as well. Transfer or succession of a firm may occur in a number of situations, including merger, demerger, amalgamation, or the death of the owner, among others. The provisions of the GST in the … Read more
As of October 1, 2022, taxpayers will be able to report late transitional credits, according to an announcement from the Goods and Services Tax Network (GSTN). This news arrives a month after the Hon’ble Supreme Court ordered the GST system to reopen on September 1, 2022, to facilitate the submission of transitional credits from the … Read more
As per the latest notification, you have to pay more for canceling the confirmed rail tickets for AC and first class. Following a circular from the Ministry of Finance on August 3, cancellation fees for confirmed railway tickets would also be subject to GST. Let us understand the concept of Rail ticket cancellation for AC, … Read more
The EY GST book makes recommendations for policy changes based on four criteria: increased tax income, improved dispute resolution, empowered institutions, and a more convenient environment where you can conduct business. According to a new book on Goods and Services Tax (GST) published by EY, which offered sector-specific recommendations on indirect tax changes, expanding the … Read more