New GST rule from April 1, 2025: ISD mandatory for input tax credit; not following will lead to ITR denial, minimum penalty of Rs 10,000
The government has made the ISD mechanism mandatory, effective April 1, 2025. This means that the distribution of common ...
Tax Guru10d
Good and Services Tax Act
The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. In other ...
Investopedia19d
What Is Sales Tax? Definition, Examples, and How It's Calculated
Investopedia / Julie Bang A sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale (POS), which is ...
WXIN-TV Indianapolis on MSN8d
Influencers have trouble figuring out their tax obligations, here’s why
whether they’re objects such as running shoes and headphones or services such as a luxury hotel stay, should be treated as ...
Tax Guru1d
Whether GST Registration Mandatory for Persons Making Export of Services?
Section 24 (i) specifically mandates compulsory registration by a person making inter- state taxable supply. The term or phrase ‘’inter- state taxable supply’’ makes it ample clear that if the ...
MOD’s GST case next hearing on March 24, Rs 100 crore tax dispute could set precedent
The Bombay High Court’s decision on Mad Over Donuts' tax classification case could clarify GST treatment for restaurant and ...
Goods and Services Tax rates to be reduced further: FM Nirmala Sitharaman
FM Sitharaman mentioned that the revenue neutral rate (RNR), which was 15.8 per cent when GST was introduced in July 2017, ...
The Star20d
High value goods tax and SST to serve distinct purposes
“However, e-invoicing has been implemented in many countries to complement the goods and services tax (GST) or value added tax. “It allows output tax and input tax to be matched, thus removing ...
The Daily Mirror27d
Goods and services to be taxed more to fund budget 2025
Tax on goods and services will dominate the government’s revenue for 2025, and it will be more than 50 percent of the total tax revenue estimated, according to the budget presented in Parliament.