GST

Suo moto cancellation of GST registration means cancellation of registration under GST laws by the tax officer on his motion.

According to gst audit for Any taxpayer with an aggregate turnover of 2 crores or more in any FY must have their account books audited annually

Section 10 governs the provisions of the place of supply in a goods transaction. Aside from goods imported or exported from India

Every company, except a government company, must file outstanding receipts of money or loans as specified in Form DPT-3, within 90 days.

In this day and age, there are very few people who have not heard of the term digital investment. In the last decade, a new realm of digital investments has accelerated into investor portfolios. The world of digital investment is a part of our everyday lives. Until recently, dealings in such an investment had no … Read more

Section 194Q: Same as 206C(1H) or Different? Consider yourself a ‘Purchaser of Goods.’ In the normal course of your business, you have bulk orders to purchase. During the previous year, one of your purchases of goods exceeded Rs. 50 lakhs. Is TDS levied on such a transaction? Let us understand.   As per section 194Q, any … Read more

In the Finance Bill 2022, a new section 38 emphasizing on “communication of details, inward supplies, and input tax credit” has been proposed to replace the incumbent section 38. This section is included primarily for two reasons.   Noncompliance by taxpayers with the current section 38, which governs GSTR-2 ‘inward supplies.   There has been an alarming … Read more

Apart from E-invoicing Threshold, Some Key Changes That Will Take Effect from 1st October 2022 The Central Government hereby appoints October 1, 2022, as the date on which the provisions of sections 100 to 114 of the said Act, except clauses (c) of sections 110 and 111, shall enter into force. The following are the … Read more

The returns under GST are the final stage of compliance which squares off the monthly/quarterly GST transactions. Taxpayers are subject to consequences and penalties for failing to submit their returns, even if everything up to that point has gone smoothly. Sections 37 to 45 govern the various types of returns and ITC matching, reversal, and … Read more

In the Finance Bill 2022, a new section 38 titled “communication of details, inward supplies, and input tax credit” has been proposed to replace the incumbent section 38. This section is included primarily for two reasons.   Noncompliance by taxpayers with the current section 38, which governs GSTR-2 ‘inward supplies.   There has been an alarming increase … Read more