Goods and Services Tax GST applies to all service providers, retailers, wholesalers, and producers who are doing business in India. The registration of any business organization under the GST law is done under two categories as below: Normal scheme registration Composite Scheme registration In this blog, we will look at eligibility, benefits, disadvantages and compliances involved under […]
The efficient implementation of the indirect taxation law, known as GST, necessitates tough penalties for tax evaders. To encourage people to comply with the GST regime in India, the government has established three key strategies: interest, monetary penalties, recovery, and suspension of GSTIN. This blog discusses the penalties and prosecution when GST return is not […]
India has seen an unprecedented increase in e-commerce transactions, as has the rest of the world. So, its introduction of digital taxation at a time appears to be a step in the right direction. In this blog, we discuss e-commerce ecosystem and the necessary GST compliances. Let’s look at why there is a growing need […]
E-Invoicing under GST is an authentication mechanism just like the E-way Bill system. However, the mechanism is different, wherein it involves submitting already generated invoices on the common e-invoice platform before issuing the same to the customer. What is E-Invoicing under GST? It is a system in which Business to Business (B2B) invoices are authenticated digitally by GSTN. All the […]
The government of India has introduced Section 206C(1H) of the Income Tax Act, 1961 with regards to Tax Collection at Source on receipt of sale consideration for sale of any other goods. It is applicable to all sellers of goods whose turnover for the preceding Financial Year exceeds INR 10 crores w.e.f. 01.10.2020. This provision […]
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