Discover how Chartered Accountants can evolve beyond compliance to become indispensable advisors, offering strategic insights, proactive solutions, and a truly client-centric approach.
India’s Finance Act 2022 sets a 30% tax on Virtual Digital Asset (VDA) transfers and 1% TDS, impacting crypto and NFT investors from AY 2023-24.
Understanding the GST implications on these transactions is crucial for businesses to ensure proper tax adherence, avoid penalties, and optimize their input tax credits. This article delves into the legal provisions, latest notifications, and practical aspects governing GST on e-commerce transactions, offering a comprehensive guide for sellers and operators alike.
1. Introduction In the era of digital transformation, education has seamlessly shifted from traditional classrooms to online platforms—webinars, e-learning modules, and virtual skill development programs are now the norm. However, this evolution has brought with it a critical policy question: Do these digital learning services qualify as “education” or are they merely “commercial training” subject […]
Cloud kitchens and takeaway businesses can opt for GST Composition Scheme at 5% rate if turnover and other conditions are met, as per GST law & clarifications.
This article demystifies GST for freelancers and consultants, covering registration, invoicing, LUTs, exports, refunds, and more—with authentic references to the law (sections, rules, circulars, and forms). Whether you’re billing in rupees or rupees earned from abroad, here’s everything you need to know to stay compliant—and get your due.
Understand Section 17(5) of the CGST Act, 2017, listing goods and services where Input Tax Credit (ITC) is restricted, with specific exceptions outlined.
Learn about Section 10 of the CGST Act 2017 and the GST Composition Scheme for small taxpayers. Understand eligibility, rates, conditions, and compliance.
Understand Section 66 of CGST Act covering Special Audits. Learn when triggered, who conducts it, timelines, taxpayer rights, costs, and consequences.
Clarification on GST Input Tax Credit availability for demo vehicles used by authorized dealers, addressing Section 17(5)(a) blockage and capitalization.
