Key Takeaways The new GST return system aims to reduce the number of forms that need to be filed by taxpayers. For instance, Form GSTR-1, Form GSTR-3B and similar other return filing forms will be replaced. It further aims to simplify the process of return filing with a minimal number of forms for taxpayers exceeding […]
Key Takeaways Since the introduction of the Goods and Services Tax Act in 2017, all taxpaying businesses in India are required to file GST returns based on their registration type. These returns help report sales, purchases, tax collected and tax paid. To streamline GST compliance and bring discipline to the system, a notification issued in […]
Key Takeaways Are you one of the 1.2 crore taxpayers in the country who are stressed over missing the GST return due date? While it’s true that the Goods and Services Tax (GST) regime has revolutionised tax collection in our country, replacing the otherwise complex indirect tax system – it is still absolutely crucial to […]
Key Takeaways The Indian legal services market is predicted to grow at a CAGR of 9-10% and reach USD 2.49 billion crore by 2025. As the GST regime covers a wide range of goods and services, legal services are no exception. Note that RCM extends special provisions which state the GST on legal services. Are […]
by Key Takeaways The GST (Goods and Services Tax Act) came into effect in India on 1st July, 2017. This singular indirect tax is a replacement for the various indirect taxes from the previous regime, making it easier to maintain books and comply with Indian tax laws. Not every businessperson in India is liable to have […]
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