Tag: input tax credit

UNDERSTANDING GST IN INDIA: CONSULTATION, COMPLIANCE, REPRESENTATION, LITIGATION, AND AUDITS

“From the treasury comes the power of the government, and the Earth, whose ornament is the treasury, is acquired by means of the Treasury and Army.” -Kautilya (Arthasastra) INTRODUCTION TO GST 1.1 Background and Evolution of Indirect Taxes in India Prior to the advent of the Goods and Services Tax (GST), India’s indirect tax regime […]

GST MISTAKES THAT EVERY BUISNESS OWNER SHOULD AVOID

INTRODUCTION GST has completely changed the way businesses in India function. It endeavours to streamline the system of taxation, but several businessmen still find it confusing to decode and adhere to its various precepts correctly. Keeping up-to-date with the latest GST Laws is vital for every business owner in 2025. Failure to maintain GST practice management can result […]

All About Input Tax Credit (ITC) for New Entrepreneurs

Unlock the power of Input Tax Credit (ITC) to reduce your GST liability and boost cash flow efficiency for your business. Learn how ITC works, the steps to claim it, and common pitfalls to avoid, ensuring compliance with GST regulations while maximizing financial benefits

Understanding Reverse Charge Mechanism under GST Law: A Beginner’s Comprehensive Guide

Discover the Reverse Charge Mechanism (RCM) under GST law with our comprehensive beginner’s guide. Learn how RCM shifts tax responsibility from suppliers to recipients, its application on goods and services, compliance tips, and ways to maximize your Input Tax Credit (ITC). Simplify your GST understanding today!

GST Registration Ultimate Guide: Maximise Benefits and Stay Compliant

GST registration is essential for businesses to comply with Indian tax laws. This article offers a comprehensive guide to the Goods and Services Tax (GST) registration process, its benefits, and the penalties for non-compliance. Learn how to register your business, the necessary documents, and step-by-step instructions for completing the application. Whether you are a small business, startup, or established company, understanding GST registration is crucial for claiming input tax credits, staying tax compliant, and avoiding hefty fines. Discover common mistakes to avoid during the registration process and answers to frequently asked questions (FAQs). Start your GST registration journey today and unlock the full benefits for your business.