GST 2.0 reforms restructure textile GST rates, remove inverted duty, and align fibres, fabrics, and garments, but compliance and pricing challenges remain.
Understand how freight, packing, and other ancillary charges are treated under GST for the textile industry, impacting the value of supply and tax calculation.
Navigate GST complexities in textile goods returns. Understand challenges like incorrect document issuance, tax adjustments, and unique industry issues to ensure compliance.
Analysis of US tariffs on India’s textile industry: reduced exports, pricing pressure, competitive disadvantage, and potential strategic responses.
Explore the impact of Clause (ca) in Section 10(1) of the IGST Act on the place of supply for unregistered persons. Is the recent amendment solving or creating issues?
Mass issuance of GST notices in September 2023 prompted businesses to step into limelight and elucidate intricacies of their financial performances. This article unravels events leading to this surge, delves into legal intricacies of Section 73 of CGST Act, and explores ensuing challenges and discrepancies.
GST Courtroom Battles: Interpretation of ‘Goods’ across Indian High Courts & its implications on taxation and confiscation laws. From Cash to Commodities.
Explore recent Supreme Court ruling on interest levied on customs duties, its complexities, and implications it holds for enterprises, revenue departments, and taxpayers.
The recent imposition of a 28% GST rate on the entire value of gaming, horse racing, and casinos has been seen as a disadvantage for online gaming companies. The online gaming industry in India has witnessed impressive growth in past years, leading to significant foreign investment, making it one of India’s fastest-growing sectors.
There is a need to pay GST under reverse charge mechanism and then claim the ITC. Compliances like these would require a mandatory reconciliation exercise. The reconciliation statements would be useful for finalisation of books of account, filing of GSTR-9 and GSTR-9C.