The Goods and Services Tax (GST) system is a crucial part of modern taxation, bringing about a significant change in how goods and services are taxed worldwide. The Goods and Services Tax (GST) was introduced to make the tax system more efficient and promote economic…

The introduction of the Goods and Services Tax (GST) in India is a significant milestone in the country's tax history. The GST was designed to simplify the complicated tax system that existed before it was implemented. It is a major step towards creating a more…

In India, businesses must stay up to date on regulatory changes and compliance requirements in order to stay ahead of the complicated web of goods and services taxes. The Goods and Services Tax Network (GSTN), which is the brains of GST management in the country,…

Following tradition, the Union Government has not introduced substantial changes under indirect tax legislation in its interim budget that came out this year. But the Goods and Services Tax (GST) rules have changed, and the 2023 Finance Act will reflect those changes. Among the most…

While tax laws are complicated, the Goods and Services Tax (GST) stands out as a key framework that has had a big impact on how businesses run and file their taxes in countries where it has been put in place. One of the tricky parts…

Keeping up with the ever-changing world of taxation is crucial for taxpayers, policymakers, and stakeholders. It's important to stay informed about the latest developments and policy changes. The February 2024 edition of the Goods and Services Tax (GST) Council Newsletter, which is the 59th edition,…

In the ever-changing world of Goods and Services Tax (GST) compliance, recent updates highlight the crucial need for businesses to accurately report their storage addresses, especially for those involved in importing goods. Recently, The GST authorities have sent notices to around 50 importers of spices,…

As the financial year comes to an end and a new one starts, businesses that operate under the Goods and Services Tax (GST) regime need to get ready for different compliance tasks and strategic initiatives. It is important to optimise GST compliance not just to…

Paying taxes is not a choice but duty, but it should never feel like an undue burden. Tax laws and regulations should be designed to prevent complications like double taxation. In alignment with this principle, the Input Tax Credit (ITC) was introduced. Through ITC, businesses…