Goods and Services Tax

Under the Goods and Services Tax (GST) regime in India, businesses can claim Input Tax Credit (ITC) on the tax paid for inputs used in the course of their business operations. However, there are specific conditions and circumstances under which ITC cannot be claimed. Understanding these conditions is crucial for ensuring compliance and avoiding disputes […]

Goods and Services Tax (GST) in India mandates businesses to file regular returns to ensure compliance with tax regulations. The type and frequency of GST returns depend on the nature of the business and the type of supplies made. Here’s an overview of GST returns applicable to different types of businesses. GSTR-4 is a return

The Goods and Services Tax (GST) has significantly impacted various sectors in India, and the restaurant industry is no exception. Implemented on July 1, 2017, GST has simplified the taxation structure for restaurants, enabling them to navigate compliance more efficiently. This article explores the implications of GST on the restaurant business, including tax rates, compliance

The Goods and Services Tax (GST) system, implemented in many countries including India, aims to simplify tax compliance and boost revenue efficiency. One notable feature of GST is the reverse charge mechanism (RCM). This mechanism shifts the responsibility for paying tax from the supplier to the recipient of goods or services. Here’s an in-depth look

E-invoicing, or electronic invoicing, is a digital method of issuing and managing invoices. As businesses increasingly move towards digitization, e-invoicing has emerged as a critical component for enhancing efficiency, compliance, and transparency in financial transactions. This article explores the concept of e-invoicing, its benefits, implementation process, and its significance in today’s business landscape. What is