Get To Know About Direct and Indirect taxes In details
30 Nov, 2022
This article covers every aspect of the fifth phase of e-invoicing, including its applicability, business process changes, available e-invoice generation methods, and solutions for these companies, including e-Invoicing.
A company's outgoing supplies are disclosed on the GSTR 1 monthly return. If a transaction for the delivery of goods has been made, the recipient of that supply must be real. It basically functions as a return that details all of a business's sales transactions.
From 18th July 2022, customers will be required to pay 5% GST on pre-packaged, labelled foods including atta, paneer, and curd as well as hospital rooms with a monthly cost of more than Rs 5,000.
Finance ministers' group that was trying to include online gambling and casinos in the GST resolved to finish its report by August 10. GoM met virtually on Tuesday to explore different strategies for taxing casinos, horse racing, and internet gambling.
Registration of any business under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies.
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