The government has extended the timelines for Income Tax and GST compliance amid the covid-19 crisis to ease the burden of coping with the tight deadlines during its second wave. As mentioned in the previous news article, the finance ministry had been receiving numerous requests from all industries to ease the deadlines and extend them, […]
Confusion Related To Filing GST And Taxes
The industry has requested the government for more handholding to clear tax-related confusions and GST filing. Tax compliance deadline extension has also been requested. WHAT ARE THE REQUESTS? The finance ministry has been approached by the industries to provide clarity, speed up the processes, and also provide more handholding on the numerous tax issues. With […]
Basics: Input Tax Credit – Comprehensive Guide
Goods and Services Tax (GST), so far, is one of the most nuanced tax reforms implemented by the Government of India (GOI). The primary agenda behind introducing GST was to eliminate the rippling effects of various taxes applicable under the Value Added Tax (VAT), Service Tax, and Excise Duty. Since its inception, GST has introduced […]
The GST Payment of Tax
The payment of Goods and Services Tax (GST) online has made the process of tax payment easy and transparent. As a registered taxpayer of GST, you have access to three electronic ledgers, i.e. electronic liability ledger, electronic cash ledger, and electronic credit ledger. The first step for making the payment of GST is to generate […]
