Selling cigarettes disqualifies traders from the GST composition scheme regardless of turnover. Small retailers must follow regular GST compliance to avoid penalties.
Learn why bank loans are rejected due to poor documentation, weak financials, and unclear business models. Discover practical solutions to improve approval chances.
This explains why bank loans are rejected due to poor documentation, weak financials, and unclear business models. It also highlights practical fixes to improve approval chances.
The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, rights, and possible outcomes, ensuring clarity on compliance requirements and dispute resolution.
The court examined whether an advocate involved in filing GST returns for fake entities should remain in custody. It granted bail, holding that limited compliance involvement and completed investigation justified release.
The increasing use of AI in GST is leading to automated mismatch alerts and notices based on flawed data. The key takeaway is that reliance on inaccurate systems can result in unjust tax demands for genuine taxpayers.
Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key takeaway is that proper documentation ensures compliance and prevents unnecessary tax deduction.
IPL franchises have contested the 40% GST rate, arguing it wrongly classifies matches as entertainment instead of sporting events. The key takeaway is that tax treatment depends on classification, which directly impacts applicable GST rates.
Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the correct tab under the applicable law.
Explains that vague show cause notices lacking details of suppression violate legal principles. Highlights that extended limitation and penalties require clear proof of intent.
