The 55th GST Council meeting, held on December 21, 2024, in the stunning city of Jaisalmer, Rajasthan, brought some significant updates for consumers and businesses. Having said that, the chairperson …
55th GST Council Meeting: Key Highlights by TaxHelpdesk Read More »
GST on weddings is crucial to know because weddings involve lots of goods as well as services that are subjected to GST. Therefore, one should know about the implication of …
GST Slab Rates, 2024 are essential for knowing the GST rates that are applicable on goods and services in the Financial Year 2024-25. Book GST Consultation GST Slab Rates 2024: …
Setting off of Input Tax Credit under New Mechanism
– For IGST Output: First set off through ITC of IGST, then CGST and lastly, SGST.
– For CGST Output: First set off through ITC of CGST and then, IGST. ITC of SGST cannot be utilized.
– For SGST/UTGST Output: First set off through ITC of SGST/UTGST and then, IGST. ITC of CGST cannot be utilized.
54th GST Council Meeting was held on 9th September, 2024 at Sushma Swaraj Bhawan in Delhi by the Hon’ble Finance Minister Smt. Nirmala Sitharaman. Book GST Consultation 54th GST Council …
The 53rd GST Council Meeting was held on 22nd June in Delhi. This meeting took place after the pre-Union Budget, 2024 discussions. Further, the chairperson of this meeting was Ms. …
53rd GST Council Meeting: Know the Important Pointers Read More »
Input Service Distributor or ISD is one of the type of taxpayer under GST that distributes the Input Tax Credit (ITC) belonging to its GSTIN under the same PAN. This …
Input Service Distributor Under GST: Know Concept and Procedure Read More »
The ITC on bank charges can be claimed only if it is in furtherance of business. However, there are certain conditions which needs to be fulfilled for availing input tax …
The input tax credit on food and beverage supplies are blocked credit for registered person. That is, one cannot claim Input Tax Credit on Food. However, there are certain exceptions …
Know Whether you can claim Input Tax Credit on Food? Read More »
Late fees and interest under GST are imposed if the GST Returns are not filed on or due dates. Having said this, the GST registered person are required to file …
Know about Late Fees and Interest on GST Returns Read More »