Controversy over Section 128A: Waiver of Interest and Penalty in GSTR-1 vs GSTR-3B Mismatch Cases With the rapid digitization of GST compliance, the GST authorities have started issuing notices based on data mismatches between GSTR-1…

ITC Allowed for Genuine Transactions Despite Supplier Default Under the GST regime, Input Tax Credit (ITC) plays a vital role in eliminating cascading tax effects. However, businesses often face issues where their suppliers default in…

Tax Liability on Composite and Mixed Supplies In GST, multiple goods or services are often supplied together in a single transaction. To ensure the correct levy of tax, the law classifies such transactions into two…

Introduction to Composition Scheme under GST The Composition Scheme under Section 10 of the CGST Act, 2017 is a simple and hassle-free tax scheme for small taxpayers. It allows eligible businesses to pay GST at…

Rule 86B of the Central Goods and Services Tax (CGST) Rules, 2017 was introduced via Notification No. 94/2020 – Central Tax dated 22nd December 2020, and became effective from 1st January 2021. This rule restricts…

In simple terms, the value of a taxable supply is the price actually paid or payable by the buyer to the seller for the goods or services. However, it’s not just the sticker price or…

Section 12 of the Companies Act, 2013, lays down the requirement for every company to have a registered office from the time of incorporation. The registered office serves as the official address of the company…