Certainty in Indian taxation is a luxury, and adherence to it is absolute if one is looking for ease of tax compliance in India. The current and future need of the hour is that taxation law should be simple and its wording unambiguous, leaving no room for varied interpretations, even by the most competent tax …
It is often said that simplicity is one of the critical elements of sound tax administration and widening the GST net. The challenge to translate this fundamental requirement in a behemoth like India is astonishing. India prides itself on unity in diversity. This, however, has its own set of challenges in founding a tax administration …
The Indian GST system is as complicated as it is. There is a broad scope of mistakes and miscalculations bound to happen. The icing on the cake becomes injustice or the wrong actions taken by the authorities, leading to repercussions for the taxpayers and their families which also includes GST registration cancellation The same is …
The Goods and Services Tax (GST) came into effect in India on July 1, 2017, changing how taxes are managed across the country. This new tax system impacts all kinds of businesses, big and small. For businesses, using GST software in India is just like having a helpful assistant for handling all things related to …
Claiming ITC against the sales is a tedious task in tax compliance and needs utmost attention to detail while filing accurate returns and appropriately reconciling the data. Mistakes in GSTR-3B are common, and once filed, revisions are not permitted in GSTR-3B, and rectify wrong ITC claims is a sure headache. In this blog, we’ll explore what …
India generated the highest number of e-way bills in September 2023, with a total count of 4228618, which reflects the overall growth of the government’s digital e-way bill campaign and the drastic growth of India’s logistics sector. But at the same time, we see an ever-increasing number of mistakes being made while generating e-way bills, …
What are GST notices? Under the GST regime, GST notices represent a pivotal communication channel initiated by GST Authorities towards taxpayers. These GST notices are diverse and cater to specific purposes, aiming to caution or remind taxpayers about deviations from GST laws or to request additional information. Instances triggering these GST notices often encompass transactions …
The interim budget for 2024 is here, and the results are out to serve you our Budget Analysis 2024 from an Indian taxpayer point of view. While our Honorable Finance Minister Nirmala Sitharaman gave a new and reformed definition of GDP, governance, development, and performance, the road ahead does not look too bright for Indian …
Finance Minister Nirmala Sitharaman will announce the interim budget 2024-2025 for the financial year 2024/25, which starts on April 1, at 11 a.m. IST. Sitharaman addressed the profound positive transformation in the last 10 years and how the people of India are looking ahead with hope under the leadership of Honorable PM Shri Narendra Modi. …
