E-invoicing under GST
GST council had implemented this e-invoicing feature in its 35th meeting which applies to the special category of individuals. Many people misunderstood this term as
Prateek Agarwal 06/08/2021
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GST council had implemented this e-invoicing feature in its 35th meeting which applies to the special category of individuals. Many people misunderstood this term as
Every business needs complete software that can make their tasks easier. But it is difficult to find such complete software. Customized software is preferred that
Following an increasing internet penetration in India, more and more Indians are beginning to make use of so-called online betting sites which allow users to
Details, as furnished in Details of outward supplies in Form GSTR-1, will be available to the composite dealer in Form GSTR – 4A. The dealer
Taxability of Salary Income As per Section 5(2), the total income of any financial year who is a non-resident includes all the incomes from whatever
Services provided by the hotel is a taxable service in GST. The place of supply will always be the state/union territory where the hotel is
What is Reverse Charge? Normally, GST is to be collected by the person who is selling good and services. But in some cases GST is
A new functionality has been introduced on the GST portal for the surrendering of GST Registration. If you want to cancel your GST registration, follow
As per the GST law, generally a taxpayer pays tax under normal rates i.e 5%, 12%, 18%, 28% and avails cenvat credit on inputs, input
What is Input Tax Credit (ITC) Input Tax Credit refers to the tax already paid by a person at time of purhase of goods ro
GSTR-3B is required to be filed every month by all taxpayers till 20th of the next month. Although this is a relatively easy form and
Introduction Goods and Service Tax (GST) is applicable in India from 1st July 2017. Before 1st July 2017, service tax applies to services and vat,
Meaning of Seafarer A sailor, seaman, mariner or a seafarer is a person who navigates water bone vessels or assists as a crew member in
There are various ways in which you can verify your e-return, one of which is using bank account details. This option comes handy when you
Meaning of Clubbing In general, clubbing means including the income of any other person into the Assessee’s total income for the purpose of taxation. Certain
Any person (other than individual or huf who is not liable to audit under section 44AB who is responsible for paying to a resident Fees for
New penalty for late filing of Income Tax Return under section 234F is introduced in Budget 2017. Although this penalty is applicable only for income
Long term capital gain means capital gain arising from transfer of long term capital asset. Indexation benefit is available for long term capital gains. Long
National Saving Certificate, commonly known as NSC, is saving bonds issued by Indian Government to individuals only. It is primarily focused on small savings. Also,
What is PPF ? PPF stands for Public Provident Fund which is backed by Indian Government. PPF is the most common investment for a number
Equity Linked Savings Scheme, commonly known as ELSS, is a diversified, open-ended, equity-oriented mutual fund scheme. In ELSS, 80% of the portfolio amount is required
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