Key Takeaways The introduction of GST marked a significant overhaul of the country’s indirect taxation system. GST aimed to streamline tax administration and foster a common national market by subsuming various central and state taxes into a unified tax regime. While the energy sector anticipated benefits from this reform, the reality has been complex. The […]
Key Takeaways The introduction of the Goods and Services Tax or GST returns in India, brought a transformational shift in the taxation system of the country. For Micro, Small, and Medium Enterprises (MSMEs), the backbone of the Indian economy, this new regime brought a mix of benefits and challenges. While it simplified indirect taxation and […]
Key Takeaways GST, or Goods and Services Tax, has shown significant changes in the tax system compared to the previous tax regime. The introduction of GST in our tax regime has clearly impacted NBFCs and microfinance companies. Estimates say this will show significant variations for service sector companies compared to manufacturing or trading sector companies. […]
Key Takeaways Since its implementation on July 1st 2017, GST has been a significant policy in India. The government has categorised items into several groups, distinguishing between essential basic necessities, standard goods, consumer products, and luxury goods. This categorisation is a crucial aspect of the GST policy, particularly as it separates non-luxury category items into […]
by Key Takeaways The GST authorities often raise queries before approving a GST registration application, if they detect discrepancies in information and documents presented. They might issue notices to seek clarification or additional documents from the applicant. As an applicant, you need to respond to those queries within the due date to avoid the cancellation of […]
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