Our Latest Blogs
GST Guide
March 31st, 2022
CBIC has issued the standard operating procedure (SOP) for selection or identification of returns for FY 2017-18 and 2018-19 for scrutiny and its methodology, as part of a plan to plug leakages and shore up collections as an interim…
e-Invoicing
March 23rd, 2022
Govt. mandated companies of more than Rs.500 crore revenue to start generating e-invoices from 1st October 2020. As per the phase-wise expansion, companies with more than Rs.100 crore revenue began generating e-Invoices from 1st January 2021.
e-Invoicing
March 14th, 2022
e-Invoicing
March 8th, 2022
The Ministry of Finance has recently mandated GST e-Invoicing for B2B and export transactions for the taxpayers having annual turnover from ₹20 crores to ₹50 crores in any FY from 2017-18 and onwards, with effect from 1st April 2022.
Industry Insight
Feb 7th, 2022
Budget
Jan 24th, 2022
Tax Technology
Jan 20th, 2022
Considering how businesses today deal in a dynamic and competitive market, it becomes essential for businesses to integrate technology into their organizational functions to keep up with the changing times.
Vendor Management
Jan 5th, 2022
Post the advent of GST, the industry is facing a hard time in claiming eligible Input Tax Credits (ITC). Multiple rules, laws, provisions have been enacted to safeguard the revenue from false ITC claims and fraudulent invoices.
Tax Technology
Dec 30th, 2021
Across the globe, organizations are witnessing enhanced tax regulatory norms and requirements that make conducting business complicated. Such tax regulatory norms are set to become even more stringent in the near future.
Tax Technology
Oct 28th, 2021
Technology have eased GST compliances. But, there still a need for manual intervention to conclude ITC reconciliations. Read the blog to know more.
GST Guide
Oct 22nd, 2021
The GST law, like most of the other countries, is based on self-assessment. Nonetheless, tax evasion and frauds are still widely prevalent in the country. The GST law embodies certain provisions that empower the proper officer to inspect, search, seize, and investigate cases to check this evasion.
Tax Technology
Oct 20th, 2021
In the last couple of years, the digitization of tax functions has rapidly grown across the globe. More and more companies are looking at tax technology as the future. Even tax authorities have now endorsed the benefits of technology in tax and are radically making a shift to using technology in their day-to-day activities.
Vendor Management
Oct 14th, 2021
The heading of this blog – ‘Vendor Payments’ might intrigue the readers as to what is not so simple about vendor payments. Once you receive the supplies and invoices, you can verify the quality and quantity and make payments to vendors.
GST Guide
Sept 23rd, 2021
Charitable trusts, religious trusts, and Non-Governmental Organizations (NGOs) are entities, the objectives of which are not to make a profit or enhance their revenues but to work towards the greater good of the society.
GST Guide
Sept 16th, 2021
All laws, whether taxation or otherwise, grant certain powers to officers which enable the officers to execute the law in the right spirit.
Tax Technology
Sept 13th, 2021
As per a recent study, global RPA (Robotic Process Automation) software revenue is forecasted to reach $1.89 billion in 2021.
GST Guide
Sept 9th, 2021
In another attempt to convince the taxpayers to file their Income Tax Returns or ITR, the Central Board of Direct Taxes or the CBDT has introduced Section 206AB and 206 CCA of the Income Tax Act, 1961.
GST Guide
Sept 6th, 2021
In the year 2000, India first dreamt of the GST law. However, it took eight years for the Indian Government to conclude that India would need a dual GST model to befit the political structure and the allocation of tax revenues.
Industry Insights
Aug 30th, 2021
Gold is very crucial to the Indian culture and the value system of the country. It is not only an investment means in India but an icon of status, wealth and key element of rituals. Even today, gold is the primary metal used for gifting, wearing and investing in India.
Tax Technology
Aug 26th, 2021
In conversation with tax tech expert: Krunal Shah, Shivpriya Sumbha: discovers insights on a recent GSTN meeting on adopting private fintech as IRP and the reasons behind it.
Tax Technology
Aug 24th, 2021
Banks and financial institutions constitute the backbone of any economy. The rise and fall of any economy are largely dependent on the health of its financial sector. Therefore, banks and other financial institutions are always under scrutiny.
GST Guide
Aug 20th, 2021
GST software simplifies the GST filing process and makes it easier for many businesses. The software has a wide range of features that eliminate a lot of complexities. The efficiency of the filling process is improved, allowing business owners to file GST before the due date.
GST Guide
Aug 17th, 2021
A recent change in GST in the Finance Bill 2021 is the removal of the requirement of the GST Audit annually and the inclusion of self-certification. It was proposed due to a variety of reasons.
GST Guide
Aug 12th, 2021
Annual Aggregate Turnover (AATO) is a significant variable in the GST regime. It is the total annual turnover of one legal entity which may be registered in multiple states.
GST Guide
July 26th, 2021
The Goods and Services Tax (GST) Act, 2017 provides for a mechanism to compensate the states for the revenue loss on account of the rollout of GST. Such compensation is to be provided by the Centre to the States.
Industry Insights
July 21st, 2021
While the tourism industry and hospitality sector overlap each other, this blog aims to cover the impact of GST on tourism and travel sector.
E-Invoicing
July 16th, 2021
Soon after the introduction of e-Invoicing from October 2020, the GSTN had begun auto-populating the GSTR-1 returns with the details from e-Invoices generated by the taxpayers to facilitate compliance and provide pre-filled returns.
Tax Technology
July 13th, 2021
GST Guide
July 9th, 2021
Seamless availability of Input Tax Credit (ITC) is the highlight of the GST regime. For any tax regime, the flow of credits is an integral part. It determines the cascading effect of taxes and the tax cost that forms part of each product to the ultimate consumer.
June 30th, 2021
GST Guide
June 25th, 2021
The Indian real estate sector is one of the most prominent sectors – both in terms of value and employment generated. Notably, the real estate sector is the second-highest employment generating sector in India. It is anticipated that by 2040, the real estate market will grow to…
GST Guide
June 22nd, 2021
GST Guide
June 18th, 2021
Before the GST regime, Indirect taxes in India were extremely complex and intricate. There were multiple levies governed by varied laws and regulations. This complicated the indirect tax domain further. Hence, there were high probabilities of mistakes being committed by taxpayers.
e-Invoicing
June 14th, 2021
GST Guide
May 27th, 2021
An independent examination of books of accounts of an organization by an expert to provide a true and fair opinion on the same is referred to as audit in general terms. The definition of audit can vary from one law to another; however, the principle remains the same.
GST Guide
May 19th, 2021
GST Guide
May 11th, 2021
The Indian Government in the last few years has been actively trying to formalize the economy by adopting various measures. The intent behind such measures is to widen the tax base and eliminate the cash or the parallel economy. Various steps are being taken in both the GST domain…
e-Invoicing
April 29th, 2021
e-Invoicing
April 27th, 2021
The buzz word in the B2C space today is ‘Dynamic QR code’. After the recent momentous launch of e-Invoicing in the country for B2B invoices, it is now time to shift our focus to B2C invoicing.
Tax Technology
April 23rd, 2021
GST Guide
April 15th, 2021
GST is a self-assessment regime wherein taxpayers are required to assess and deposit tax themselves. Periodical returns are required to be filed with revenue authorities. Such returns filed, are later assessed or scrutinized by the Government to identify any deviations.
E-Invoicing
April 12th, 2021
Tax Technology
April 1st, 2021
Financial Technology or Fintech are innovations such as software, mobile applications, or algorithms that bring together the business owners and financial expertise at a single platform and enhance & automate the financial service offerings.
Tax Technology
March 30th, 2021
GST Guide
March 25th, 2021
Provisional attachment of property is a legal term that essentially means seizing or blocking property including bank accounts of an assessee, who is being subject to a department inquiry/ investigation/ assessment.
Hyperautomation
March 23rd, 2021
GST Guide
March 18th, 2021
India has always been suspected to have a gigantic parallel cash economy which was primarily the reason for tax evasions and frauds. With the intent to curb transactions happening under such a parallel cash economy, the Government took various significant steps such as demonetisation, GST roll-out, etc.
E-Invoicing
March 12th, 2021
Vendor Management
March 11th, 2021
Every business has many stakeholders and the importance of each stakeholder is different from the other. One such stakeholder are the vendors of an organisation. Vendors are a critical participant of various cycles in an organization such as procurement to pay, record to report, and more without whom…
E-Invoicing
Feb 25th, 2021
GST Guide
Feb 22nd, 2021
Tax Technology
Feb 17th, 2020
Budget
Feb 10th, 2021
Vendor Management
Feb 8th, 2020
Budget
Feb 3rd, 2021
GSTR-9C & Cygnet ACE Sol
Jan 28th, 2020
Industry Insights
Jan 25, 2021
Hyperautomation
Jan 22nd, 2020
E-Invoicing
Jan 20, 2021
E-Invoicing
Jan 18th, 2020
GST Guide
Jan 15, 2021
Hyperautomation
Jan 12th, 2020
Hyperautomation
Jan 05, 2021
GST Guide
Dec 24th, 2020
Tax Technology
22nd Dec 2020
Once E-invoicing becomes applicable to all registered users, it will become an uphill task to keep a track of all E-invoices generated and shared. Further, the schema being new, the suppliers would also be grappling with it.
Tax Technology
Dec 18th, 2020
Tax Technology
16th Dec, 2020
Read this blog to know how technology has played an important role in evolving the Indian compliance ecosystem for corporates and what are the upcoming tax technologies.
E-Invoicing
9th Nov, 2020
The famous author Stewart Brand once said “Once a new technology rolls over you if you are not a part of the steamroller you’re a part of the road.” Across the globe, organizations are quickly evolving. Significant progressions are being made in the field of technology; the tax function is also not left behind.
E-Invoicing
Nov 5th, 2020
E-Invoicing
4th Oct, 2020
Change is the only constant – technology is an invincible tool that has changed our everyday life to an extent that it has become indispensable. A new addition to the technological revolution in India is the rollout of E-invoicing for businesses…
GST Guide
Oct 19th, 2020
GST Guide
Oct 5th, 2020
GST law seeks to ensure the accurate transfer of input tax credit (ITC) between the states and the parties in the transaction. Invoice matching is a concept wherein all the taxable supplies procured by a buyer and supplied by a seller are matched.
GST Notification
Oct 5th, 2020
GST Guide
Oct 1st, 2020
Job work is a vertical of the business wherein a principal manufacturer can send inputs or semi-finished goods to a job worker for further processing. GST law is devised in a way to ensure the compliance liability for the job worker rests with the principal to the extent possible…
E-Invoicing
Oct 1st, 2020
Amidst a lot of speculation, the Government has decided to go ahead with the E-Invoicing implementation for certain specified persons. E-invoicing is going to be implemented from 01 October 2020 for registered persons with a turnover…
GST Guide
Sept 18, 2020
Electronic Commerce or E-commerce is a business transaction wherein the selling and purchasing happen over an electronic platform or the internet. The explosion of E-commerce in the 21st century has changed the way of life. Thus, it is imperative to understand the…
GST Guide
Aug 24, 2020
Exports are incredibly important to modern economies because they offer businesses many more markets for their goods. One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties.
GST Guide
Aug 10, 2020
GST known to be One Tax – One Nation is a combination of Integrated GST, Central GST, State GST, and Cess. GST has replaced a number of indirect taxes and levies under Union and state legislation. Before the introduction of GST, there were various types of Cess applicable like…
GST Guide
Aug 7, 2020
GST is levied on any taxable outward supplies by a person. The complete responsibility of calculation, chargeability, and payment of tax has been assigned to the person making outward supplies.
GST
Aug 5, 2020
Sigmund Freud, the father of psychoanalysis once said “History is just new people making old mistakes”. While it can be said that the GST council has tried hard to not repeat the old mistakes of the erstwhile Indirect taxes, but certain issues have been gummed to the Indian Indirect tax scenario;
GST
Aug 4, 2020
Government has notified e-invoicing schema (FORM GST INV-1) and the applicable threshold for the mandatory generation of e-invoices. The details have been summarised.
GST
July 27, 2020
A common sight these days is people carrying small handy bottles of sanitizers everywhere they go; the magic potion has gained unparalleled popularity in India amidst the Covid-19 threat. Earlier, sanitizers were an accessory…
GST
July 23, 2020
Important changes which have been proposed in the GST returns in order to make it more user friendly and to further simplify the return filing process
GST Guide
July 22, 2020
For any law to be effective, it is important that persons should comply with the legal requirements specified in the law. A fear of interests and penalties instills timely compliances and adherence to the legal requirements mentioned in the law.
GST Guide
July 17, 2020
The provisions of Income Tax Act, 1961 require every person making a payment to a Non-Resident or to a foreign company to submit the details of remittance to jurisdictional income tax officer in Form 15CA with regard to compliance …
GST Guide
July 6, 2020
The concept of TDS and TCS is familiar under Direct Tax Laws. TDS is a mechanism for advanced collection of tax while TCS is levied and collected on the sale value of certain commodities when referred to the Income Tax Act. However, the concept of TDS & TCS under Indirect Tax…
GST Guide
July 3, 2020
Appeals under any law is an application to a higher court for a reversal of the decision of a lower court or department.