GST Guide

GST Guide articles are detailed by our GST experts that share all the relevant information regarding GST and related concepts under GST.Subscribe and stay updated.

Investigations under GST

Investigations under GST

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. One of the key authorities which investigate cases …

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Impact of GST on charitable trusts

Impact of GST on charitable trusts

Taxability of charitable trust Charitable trusts, religious trusts and Non-Governmental Organizations (NGO) are entities, the objectives of which are not to make profit or enhance their revenues but to work towards the greater good of the society. Due to this, they are eligible for multiple exemptions and relaxations as far as taxes are concerned. In …

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Powers of the GST officers

Powers of the GST officers

All laws, whether taxation or otherwise, grant certain powers to officers which enable the officers to execute the law in the right spirit. Similarly, the GST law also grants certain powers to GST officers. In this blog, we shall discuss the powers of GST officers. each taxpayer should be aware about the powers of a …

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Solution to a higher rate on TDS on account of non-furnishing of returns

Higher TDS on account of non-furnishing of Income Tax Returns A Problem that can be resolved

Introduction 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. The said sections prescribe for a higher rate of Tax Deduction at Source (TDS) and/or Tax Collection …

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Impact of the abolition of GST audit provision on taxpayers: How technology can help

Impact of the abolition of GST audit provision on taxpayers: How technology can help

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 such as small taxpayers suffer from the CA’s high cost of compliance fees, who audit GST accounts annually.   Advantages of …

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Annual aggregate turnover on GST portal

Annual aggregator portal on GST Turnover

What is annual aggregate turnover? 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.   As per Section 2(6) of the CGST Act, 2017, aggregate turnover has been defined as ‘aggregate value of all taxable supplies (excluding the value of inward supplies on …

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Compensation Cess under GST

Compensation Cess under GST

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. An Act namely the Goods and Services Tax (Compensation to States) Act, 2017 has been enacted to seamlessly …

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