Introduction Why is GST, the much-celebrated tax reform in India, taking so long to deliver the results everyone expected? When Goods and Services Tax (GST) was introduced in India in 2017, it promised to revolutionize the country’s tax system. Fast forward to today, many businesses are still struggling with its implementation. So, what’s holding GST …
1. Introduction: Why Understanding GST is Important India’s Goods and Services Tax (GST) is one of the most important financial reforms that impacts every business and individual involved in buying or selling goods and services. Whether you’re a freelancer offering services online, a small business owner running a local store, or a large multinational corporation, …
Introduction When Goods and Services Tax (GST) was introduced in India, it didn’t just simplify the tax structure, it also opened up a new range of career opportunities. Whether you’re an experienced tax professional or a fresher, a career in GST could be the goldmine you’ve been looking for. But what exactly are the roles …
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1. Introduction In India, the Goods and Services Tax (GST) has revolutionized how businesses operate and manage taxes. For businesses hiring contract employees, the question often arises: Is GST applicable to contract employee remuneration? Understanding the nuances of GST, especially when it comes to contract employees, is essential for business owners to stay compliant and …
Understanding GST and Its Role in Tally Goods and Services Tax (GST) is a comprehensive tax system introduced to unify the indirect tax structure in India. It encompasses multiple taxes into a single tax, simplifying the taxation process for businesses. Tally ERP 9 is a widely used accounting software that aids in GST compliance by …
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Table of Contents Introduction: Understanding GSTR-3B Navigating the world of GST compliance in India can be challenging, but understanding the essentials, like filing GSTR-3B, is crucial. This simplified GST return form is a key component for businesses, summarizing their monthly transactions. In this guide, we’ll walk you through everything you need to know about GSTR-3B, …
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Welcome to our comprehensive guide on GST on notified services by e-commerce operators under Section 9(5) of the CGST Act. If you’re an e-commerce operator or a service provider working through one, this article is your one-stop resource to understand the intricacies of GST compliance. We’ll break down complex legal jargon into simple, actionable insights …
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Table of Contents Introduction As a business owner in India, claiming Input Tax Credit (ITC) is crucial for managing your cash flow and reducing your overall tax burden. However, situations can arise where claiming ITC becomes a challenge. One such scenario is when your supplier delays or fails to file their GST return on time. …
Introduction to the GST Portal As an Indian taxpayer under the Goods and Services Tax (GST) regime, managing your compliance seamlessly is crucial. The GST portal acts as your one-stop digital hub, facilitating critical tasks like registration, return filing, tax payments, and information access. While the portal’s functionality shines through desktop browsers, its mobile-friendly design …
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Imagine a world where taxes were a tangled web, trapping businesses and consumers in a labyrinth of confusing rates, cascading levies, and endless paperwork. This was the reality in India until the landmark Goods and Services Tax (GST) was implemented in 2017, ushering in a new era of indirect taxation. This game-changing reform aimed to …
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