The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to States) Act, 2017through Clauses 110 to 146 of the Bill
India is growing at an accelerated pace, and people are undertaking multiple financial transactions. The Income Tax Department has established a robust framework for reporting taxpayers' transactions. The provisions of
The 53rd meeting of the Goods and Services Tax (GST) Council was held on June 22 in New Delhi. Several recommendations were made at the meet to refine tax rates
To simplify the process of filing returns for small business taxpayers, the QRMP scheme has been launched by the Indian government. This guide will explain what the scheme is, the
Under the Goods and Services Tax (GST) regime, various types of registration exist to accommodate the diverse nature of businesses. The types of registration include:Regular Registration: Businesses with an annual
The Central Board of Indirect Taxes and Customs (CBIC) has issued an alert regarding the registration process for the Indian Customs Electronic Data Interchange Gateway (ICEGATE). According to the recent
The Kerala High Court has declared that the ‘Malabar Parota’ and the ‘Whole Wheat Malabar Parota’ are akin to ‘bread’ and hence should be taxed at the rate of 5%
To facilitate the taxpayer registered under GST with more methods of payment, twonew facilities of payment have now been provided under e-payment in addition to net-banking.The two new methods are
Section 161 of the Central Goods and Services Tax (CGST) Act of 2017 provides a framework for the correction of errors recognized within the official records. This section empowers the
GSTN Requires e-Invoicing for Turnovers Beyond INR 5 Crores Starting April 1, 2024, Issues Advisory on Self Enablement For e-Invoicing The Goods and Services Tax Network (GSTN) has mandated e-invoicing