GST – FinanceViewers

Union Budget 2025-26: What’s New, What’s Next

Budget & PoliciesFebruary 14, 202511Views 0Likes 0Comments

Table of Contents Overview Key focus areas Vision for Viksit Bharat Tax Reforms and Simplification Agriculture and Rural Development Initiatives MSMEs and Industry Infrastructure Boost Social Welfare Programs Balancing Growth and Fiscal Disciplin Conclusion Overview The Union Budget 2025-26 is more than just a financial blueprint—it’s a strategy to utilize India’s resources effectively. This budget plays…

Key Highlights of the 53rd GST Council Meeting

TaxationJune 28, 202412Views 0Likes 0Comments

Table of Contents Introduction Waivers and Time Extensions Monetary Limits and Pre-Deposit Reductions Rate Adjustments and Exemptions Specific Exemptions Procedural Amendments Special Clarifications Conclusion Introduction The 53rd GST Council Meeting, chaired by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented several crucial recommendations aimed at enhancing the GST framework. Key decisions spanned from…

GSTN is all set to launch E-way Bill Portal 2 on 1st June 2024

Latest News / Regulatory updatesMay 20, 202412Views 0Likes 0Comments

GSTN has announced the release of the E way Bill 2 portal scheduled to launch on June 1,2024 via advisory on (May 28th 2024). This portal is designed to complement the existing e-way bill main portal, offering enhanced availability and functionality. Key Points to be noted on 2 E-way Bill Portals: Service Expansion:Initially, the new…

GST Ambiguities: ITC Reversal of Capital Goods & Corporate Guarantees

TaxationMarch 11, 202410Views 0Likes 0Comments

Table of Contents Introduction ITC Reversal on Capital Goods SaleCapital Goods GST Provisions Explanations Illustration Suggestion GST on Corporate GuaranteesCorporate Guarantee GST Provisions Suggestions Introduction It’s going to be 7 years of GST implementation on 1st July 2024. Yet there exists a good number of ambiguity in the various provisions of GST law. Below…

GSTR-9 & GSTR-9C Prep: Checkpoints For Exceptional Transactions

TaxationDecember 8, 20238Views 0Likes 0Comments

Overview: Embark on a simplified journey to grasp exceptional transactions in GSTR-9 & GSTR-9C through our essential checkpoints. These straightforward points act as your guide, helping you breeze through last-minute details and streamline your filing process effortlessly. Tailored to simplify the complexities associated with exceptional transactions, providing easy-to-follow insights for effective handling. Dive into our…

GSTR-9 & GSTR-9C Prep: The Pre-requisites

TaxationDecember 8, 20239Views 0Likes 0Comments

Overview: Prepare to conquer the complexities of GSTR-9 & GSTR-9C by mastering the essential pre-requisites. This bite-sized video overview offers a concise roadmap for effective preparation. Start by organizing your invoices and supporting documents, laying the groundwork for a seamless filing experience. Ensure your transactions align with GST regulations to sidestep compliance challenges. Streamline your…

India’s 50th GST Council Meeting: Key Outcomes Shaping Business Landscape

TaxationJuly 24, 20238Views 0Likes 0Comments

Table of Contents Introduction Changes in Tax Rates Exemptions in Healthcare Sector Streamlining ITC Distribution Strengthening GST Implementation Implications for Gaming and Gambling Industry Trade Facilitation Measures Conclusion Introduction India's 50th GST Council Meeting, held in July 2023, witnessed significant developments and key decisions that have far-reaching implications for…

Company And LLP Formation in India

Legal ComplianceJune 21, 202311Views 0Likes 0Comments

Table of Contents Introduction Residential Status FEMA vs Income Tax Act,1961 Why should one establish a business in India? How to set up a business in India whether a resident/ non-resident? Types of Business entities and their legal requirements Criteria for setting up business in India as a liaison office, branch office, and project office. Procedure…

Understanding Refund under GST

TaxationMarch 14, 20239Views 0Likes 0Comments

Table of Contents Introduction Who can claim refund of GST? Time Limit for claiming GST Refund Situations leading to refund claim of GST Cases where unutilized ITC can be claimed Refund on Supplies made by Casual Taxable Person (CTP) or Non-Resident Taxable Person (NRTP) Refund on Supplies made to Special…

Exploring the Indirect Tax Highlights of Budget 2023

TaxationFebruary 9, 20239Views 0Likes 0Comments

Table of Contents Overview GST Reforms Custom Duty Reforms Conclusion Overview On February 1, 2023, Finance Minister Nirmala Sitharaman released the Union Budget for the forthcoming fiscal year. Since this is her fifth full budget before the NDA government led by the BJP ends its term, the presentation of the budget was closely…

GST Compliance, Offences and their Penalties

TaxationFebruary 2, 202325Views 0Likes 8Comments

Table of Contents Introduction Compliances under CGST Act,2017 Registration Raising Invoices Filing Returns Payment of Taxes Availing Eligible Credit TDS/TCS liable Offences Under GST Act Registration Invoices & Books /Records Returns Payment of Taxes ITC TDS/TCS Introduction: “One nation, one tax” is the motto of the introduction of GST in India. It…

Inspection, Search, and Seizure Under GST

TaxationJanuary 5, 20238Views 0Likes 0Comments

Table of Contents Introduction DefinitionsReason to Believe Place of Business InspectionSituations when Inspection may be Conducted Places and People who can be inspected under GST Initiation of Inspection SearchWhen and by whom search can be ordered under GST? Powers of Officers Authorized to Search Inspection V/s Search SeizureProcedure Duration for which books and…

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