Category Archives: Goods and services Tax

Goods and Service tax is applied by indian government as one nation one tax “GST”

Reversal of ITC in case of goods lost by fire

Reversal of ITC in case of goods lost by fire In GST regime, the scope of the definition of inputs, capital goods, and input services is very wide and covers almost all the imaginable goods and services that are directly or indirectly used in the course or furtherance of business. However, section 17(5) prescribes a […]

GST – Anti-profiteering becomes a board issue

GST – Anti-profiteering becomes a board issue Anti-profiteering under the goods and services tax has gone from being a plain costing issue to one that’s worrying board members. Several directors have written to company CFOs and finance teams seeking an update on price reductions under GST, said people aware of the matter.

Common problems faced in GST portal and solution

Common problems faced in GST portal and solution Everything has two sides good and bad. But only good sides of GST are discussed in many places, problems of GST portal are not properly discussed in those places. With the good sides, it is also important to know about the problems of GST because you will […]

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