GST on property: Things you should know Being pegged as a revolutionary tax reform since Independence, the Goods and Services Tax (GST) is likely to eliminate the complex and ambiguous tax structure plaguing the country currently. To bridge the gap between the government, developers and consumers, Magicbricks orgainsed an event ‘Real Estate – The RERA […]
Category Archives: Goods and services Tax
Master your business financials with our definitive guides, updates, and compliance resources on the Goods and Services Tax (GST). Navigating modern taxation can be challenging, but our clear breakdowns help business owners, freelancers, and accounting professionals stay ahead of regulatory changes while optimizing their tax positions.
Why GST Compliance Matters
Understanding GST is critical for legal compliance, seamless input tax credit processing, and avoiding costly penalties. Staying informed ensures your pricing strategies remain competitive and your cash flow stays healthy in a fast-evolving regulatory landscape.
What You Will Find Here
- Compliance & Filing: Step-by-step navigation for monthly, quarterly, and annual tax returns.
- Input Tax Credit (ITC): Strategies to maximize claims and recover tax paid on business inputs.
- Regulatory Updates: Real-time analysis of changing rate slabs, legal amendments, and notifications.
- Invoicing & E-Way Bills: Practical templates and workflows for generating flawless, compliant documentation.
how to file GST returns, input tax credit rules, GST rate slab updates, tax planning and invoicing.GST Rate Finder App launched to check the new rate on your purchase on the go The government on Friday launched an app called GST Rate Finder App which as the name suggests, is your ready reckoner for all the tax rates that are to be levied under the GST (Goods and Services Tax) regime.
Treatment of Free supply under GST Provisions Free supply under GST by any supplier is a legitimate business strategy. New products cannot be introduced in the market without cajoling consumers to try the new product. In pharma sectors free samples of medicines are distributed. In consumer goods sector, free supply along with some other item […]
GST Provisions on Information Technology Sector It is said that uncertainty in law is the greatest tyranny. Software or Information Technology sector has been struggling with uncertainty in taxation matters for long. Firstly an issue was raised whether software is a goods or service. The issue was always contentious. Other issue was raised as to […]
Free Samples & Promotional Items under GST with examples INPUT TAX CREDIT ON FREE SAMPLES Section 16(1) of the CGST ACT Provides that every registered person entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used,in the course […]