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How Does Section 17(5) of the CGST Act Affect Businesses?
The section 17(5) of the CGST Act has a decisive role when it comes to understanding the applicability of input tax credit, i.e. whether it can be claimed or blocked.…
How to Respond to DRC 01 in GST?
The DRC 01 in GST is an official notice issued by the tax authorities to the taxpayers in case any discrepancy is noticed in the GST filed, payment, or return.…
What Problems Occur While Using EVC in GST?
The EVC in GST is a common practice for conducting authentication for filling returns, submitting applications, and making compliance on the GST portal. Traders, MSMEs, startups and service providers have…
What is Marginal Relief in Surcharge on Income Tax?
Understanding surcharge on income tax has been very important for Indian taxpayers who have an annual income exceeding well-defined levels. This tax is an extra tax charged on top of…
What Happens If SCN in GST is Not Replied?
Receiving an SCN in GST may disturb any Indian business owner. A Show Cause Notice is not a regular intimation. It is a formal legal step in which the tax…
What is the Validity of Letter of Authorisation for GST?
GST compliance is dependent on the correct authorisation of representatives dealing with filing, replies, and proceedings. A Letter of Authorisation for GST is done to give a special permission from…
Can ITC be Reversed if Section 16(4) of CGST Act Conditions are Violated?
Input tax credit makes GST neutrality very firm with Indian businesses. The section 16(4) of CGST act has a statutory cut-off for taking ITC and has a direct effect on…
What are the Key Provisions of Rule 37 of CGST SGST Rules?
Understanding the payment linked credit rules is considered critical for every GST registered business. To meet this issue, the rule 37 of CGST SGST rules have been made to link…
Why was Rule 42 of CGST Rules Introduced in GST?
The introduction of rule 42 of CGST rules covered an important gap of how input tax credit was being claimed under GST. From the early days of implementation, businesses had…
How Does Invoice Processing Impact Cash Flow Management?
Cash movement determines the comfort in which a business operates every month. Sales on paper doesn’t pay salaries, rent and suppliers. Actual receipts do. Invoice processing lies in the middle…