Under GST, garments and apparel fall under Chapters 61 (knitted or crocheted) and 62 (non-knitted) of the Customs Tariff Act, 1975. The applicable GST rate is driven by the value of the individual item, not the invoice total.
Sections 65 & 66 of GST: Routine audits ensure accuracy, while special audits tackle complex cases, safeguarding revenue and promoting transparency.
In a dynamic economy like India, taxation isn’t just about payment—it’s about strategic alignment with law to optimize profitability. GST and income tax laws are crafted not just to collect revenue, but to incentivize structure, influence behavior, and foster compliance.
Explore GST rates and Input Tax Credit (ITC) restrictions on motorcycles, scooters, and electric two-wheelers in India. Learn about tax implications for businesses.
Concept of Minimum Alternate Tax (MAT) was formally introduced in Section 115JA of the Income Tax Act. It evolved over time, becoming more refined and structured.
Transform your CA practice from compliance to value creation. Learn how to become a trusted advisor, interpret future trends, and build lasting client legacies.
Learn how CAs can become indispensable trusted advisors by offering peace of mind, strategic guidance, and empathetic support, extending beyond basic compliance.
Decode tax benefits for business vehicle purchases, including EVs, under GST & Income Tax. Understand ITC rules, depreciation, and blocked credits for optimal financial planning.
Explore how critical thinking, a disciplined approach to analysis and judgment, elevates Chartered Accountants from compliance to insightful financial leadership.
Discover how Chartered Accountants can evolve beyond compliance to become indispensable advisors, offering strategic insights, proactive solutions, and a truly client-centric approach.
