In a remarkable demonstration of collaborative efforts, tax enforcement authorities from both the central and state governments have taken swift and decisive action against tax offenders. Their vigilant crackdown has already yielded significant results, as an astounding number of over 10,000 fraudulent Goods and Services Tax (GST) registrations were unearthed during the inaugural week of … Continue reading Report: Government’s Crackdown on Tax Violators Uncovers 10,000 Instances of Fraudulent GST Registrations
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Pine Labs The Emerging Force in Indian FinTech, but no IPO in the current situation says CEO Amrish Rau
Pine Labs, a prominent player in the realm of digital payments, has now aligned itself with the emerging trend among technology enterprises to defer their initial public offerings (IPOs). In an exclusive interview with ET, Amrish Rau, the CEO of Pine Labs, firmly expressed his decision to withhold the planned IPO, citing the tumultuous state … Continue reading Pine Labs The Emerging Force in Indian FinTech, but no IPO in the current situation says CEO Amrish Rau
In a B2C (business-to-consumer) transaction under the GST invoices and receipt are same?
No, in a B2C (business-to-consumer) transaction under the Goods and Services Tax (GST) regime, tax invoices and payment receipts are not the same things. A tax invoice is a document that is issued by the supplier to the customer, and it contains all the necessary details required under GST laws to record a taxable supply … Continue reading In a B2C (business-to-consumer) transaction under the GST invoices and receipt are same?
What is CGST
CGST stands for Central Goods and Services Tax. It is one of the two components of the dual GST system in India, along with the State Goods and Services Tax (SGST). CGST is a tax levied by the central government on the supply of goods and services within the country. The revenue collected from CGST … Continue reading What is CGST
What is the reverse charge mechanism under the Indian GST
The reverse charge mechanism (RCM) under the Indian Goods and Services Tax (GST) refers to a provision in the GST law where the recipient of goods or services is responsible for paying the GST, instead of the supplier. In such cases, the recipient is considered as a taxable person under the GST law and is … Continue reading What is the reverse charge mechanism under the Indian GST
Explain the time of supply under Indian GST
The time of supply of goods and services under GST is determined based on the date of issuance of invoice or payment, whichever is earlier. If the invoice is issued within the prescribed period, the supply is deemed to have taken place on the date of issuance of the invoice. If the invoice is not … Continue reading Explain the time of supply under Indian GST
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Place of Supply of Goods Under Indian GST — Many Possibility
As we delve into the realm of taxation, the pivotal concept of Goods and Services Tax (GST) reveals itself as a destination-oriented levy / Tax. Within this framework, the notion of “Place of Supply” assumes paramount significance. But what exactly do we mean by the “Place of Supply”? Within the GST framework, the “Place of … Continue reading Place of Supply of Goods Under Indian GST — Many Possibility