Tax Liability on Transportation Charges in Invoice

Based on the type of person availing the service, the liability of tax falls upon the service receiver or the GTA. In addition to transportation services taken from a GTA, there can also be a case where the supplier of goods transports the goods to the recipient and levies transportation charges in the invoice. In such a case, let us understand how the transportation...

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ITC on Outstation Hotel Stays

For businesses, availing accommodation in destinations outside the State where they are registered, is common. This could be for business events, meetings, seminars, employee engagement activities, functions, etc. In the previous tax regime, under Service Tax, there was no concern with regard to ITC on outstation hotel stays. As Service Tax registration was a centralised...

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Everything You Need to Know Before Filing GSTR 1

GSTR 1 is the first of the GST Return Forms that a registered taxpayer needs to file on monthly basis. The Goods & Services Tax (GST) is the newly launched tax system in India that was implemented on July 1. The new tax regime has completely replaced the existing indirect tax system of the country introducing many new terms and processes. The old tax returns...

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Impact of GST on Common Man

With the Rajya Sabha passing all the four GST bills in the parliament a week back, the nation’s biggest and revolutionary tax regime GST (Goods and Services Tax) is all set to become a reality soon. Boasted as the most subversive tax reform in the country after independence, GST is expected to curb transactional costs by introducing a unified tax system stirring...

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