Inverted Duty Structure under GST
The term inverted duty structure refers to a situation where the tax rate on input materials is higher than the tax rate applicable to the final product being sold. However,…
GST Rules for Freelancers in India
A freelancer is an independent service provider who offers services on a contract basis, hourly rate, or periodic schedule. These services can be delivered directly to clients in India, through…
GST on professional services
Understanding GST on Professional Services in IndiaGoods and Services Tax (GST) applies to various professional services in India, including consulting, legal, accounting, medical, and IT services. Professionals offering services beyond…
GST Appeals Basics: Procedure, Time Limit, Rules, Fees, Form
What is an Appeal?An appeal refers to a legal application submitted to a higher court, seeking the reversal of a decision made by a lower court. Appeals typically arise in…
Cancellation of registration under GST
You can cancel your GST registration if your business is no longer subject to GST rules, you are closing down your business, or if a tax officer initiates the cancellation.…
GST E invoice limit reduced to Rs.5cr from 1st August 2023
GSTR 10 need to be filed within 3 months of GST cancellation
GST on sale of fixed assets
GST on sale of fixed assets
Fixed assets are assets or items purchased for long-term use. Immovable properties such as buildings and land, as well as equipment such as machinery, computers, and so on, may be…
BENEFITS OF GST REGISTRATION
Benefits of GST Registration
GST will significantly boost the government's 'Make in India' initiative by making goods and services produced or provided in India competitive in national and international markets. Furthermore, all imported goods…
Income tax implications for NRI selling property in India
Income Tax Implications for NRI Selling Property in India (Updated Easy Guide)Non-Resident Indians selling property in India face mandatory tax deduction, complex capital gains computation, surcharge exposure, and foreign remittance…