gst
GST
GSTN Mandates HSN Code Reporting: Effective February 2025
Starting from the January 2025 tax period, the Goods and Services Tax Network (GSTN) has introduced significant changes to Table 12 of the GSTR-1 and GSTR-1A forms, focusing on the mandatory reporting of Harmonized...
GST
The Reverse Charge Mechanism (RCM) Under GST
The GST has simplified India's indirect taxes. It introduced the Reverse Charge Mechanism (RCM) to boost tax compliance and widen the tax base. RCM shifts the responsibility of tax payment from the supplier to...
GST
GST Notices: Types of GST Notices & How to Reply to Them?
In the ever-evolving landscape of taxation, receiving a Goods and Services Tax (GST) notice can be both perplexing and daunting. However, taxpayers can navigate the situation with confidence if they understand these notices. This...
GST
Understanding GST Form DRC-01B
GST Form DRC-01B plays a crucial role within the GST framework, primarily addressing tax discrepancies. This form serves as a formal notice to taxpayers when discrepancies in tax payments are detected by tax authorities...
GST
How India’s Trade Policies Influence GST?
India’s trade policies play a significant role in shaping the Goods and Services Tax (GST) framework. As the world’s fifth-largest economy, India is a critical player in global trade, and its policies are designed...
GST
Major Challenges and Solutions in GST Compliance for Small Businesses (MSME)
For small businesses, especially Micro, Small, and Medium Enterprises (MSMEs), Goods and Services Tax (GST) compliance can be particularly daunting. Here are some of the top challenges they face along with potential solutions:
Understanding and...
GST
E-commerce After GST: Adapting to New Tax Dynamics
The Goods and Services Tax (GST) is a comprehensive indirect tax that was implemented in India on 1st July, 2017.
The government of India has undertaken a big taxation reform by introducing GST, which is...
GST
Understanding the legalities of GST on Petroleum Products
In the complicated web of India's taxation system, the treatment of petroleum products under the Goods and Services Tax (GST) regime remains a complex and highly debated subject. As critical drivers of the economy,...
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