Knowledge Base

It provides a solid foundation for a knowledge base on taxation, covering both theoretical and practical elements.

Is Reverse Charge Transaction of GST Covered Under E-Invoicing?

E-Invoicing has been implemented in India in a phased manner since 1st October 2020. Let us discuss whether it applies to transactions that fall under the ambit of the Reverse charge mechanism under GST. This article aims to provide a comprehensive understanding of the applicability of e-invoicing on Reverse charge Mechanism (RCM) transactions. Reverse charge Mechanism (RCM) Under the Goods […]

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GST on Health Care Services, Hospital Room Rent & Other Hospital Services

Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are treated differently based on the nature of the service provider and the type of service. Here’s a detailed explanation of how GST applies to healthcare services and hospital room rent: The healthcare industry has traditionally been spared from

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Section 67 of CGST Act 2017: Power of Inspection, Search and Seizure to ensure compliance with GST laws and prevent Tax Evasion

In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in ensuring compliance and preventing tax evasion. Section 67 of the CGST Act 2017, provides the legal framework for authorities to exercise these powers, enabling them to access premises, scrutinize records, and seize goods or documents suspected of being involved in tax

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Physical Verification in GST Registration: An In-depth Analysis

Introduction The Goods and Services Tax (GST) registration process in India has seen a significant shift recently. Despite the Aadhaar authentication being carried out, there has been an increase in the number of cases where physical verification is being conducted. This article aims to provide a comprehensive understanding of this trend, with a focus on

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Credit and Debit Notes and Section 16(4) of the CGST Act for availing input tax credit (ITC)

INTRODUCTION- In the realm of Goods and Services Tax (GST), credit and Debit notes play a pivotal role in the adjustment of tax liabilities. These instruments are used to correct discrepancies in invoices issued during a Tax period. Section 16(4) of the GST Act, on the other hand, stipulates a time limit for claiming Input tax credit (ITC). This provision has

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Managing Input Tax Credit (ITC) Transitions and Reversals in GST

In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC) play a pivotal role for registered entities. This article explores the intricacies of ITC reversal in specific scenarios and sheds light on the regulatory provisions that govern such transitions. Reversal of ITC on Switching to Composition Levy or

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A Closer Look at GST Refund Issues

INTRODUCTION- The Goods and Services Tax (GST) system has revolutionized taxation in India, streamlining processes and enhancing transparency. However, when it comes to GST refunds, complexities often arise, leaving businesses and taxpayers perplexed. In this article, we delve into the labyrinth of GST refund issues, exploring unexpected hurdles and common pitfalls. Whether it’s delayed refunds, mismatched data, or procedural

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Can Form DRC-01 under GST be Issued for Claim of Interest Only

INTRODUCTION- The Goods and Services Tax (GST) is a comprehensive and multi-stage tax system that aims to simplify the indirect taxation regime in India. However, the implementation of GST has also brought about various challenges and complexities for the taxpayers, especially in terms of compliance and interest liability. This article examines the legal and procedural aspects of

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