Is GST charged on international transactions?
GST (Goods and Services Tax) on international transactions in India is determined by the nature of the transaction:- Export of Goods and Services: GST is not levied on the export…
What are the tax implications of leaving a company in India?
What are the tax implications of leaving a company in India?
If a customer does partial payment of the invoice amount, How to adjust or recover GST
Query - If a customer does partial payment of the invoice amount but GST has been paid fully, how can excess GST be recovered? Ans - When a customer makes…
How does the reverse charge mechanism apply in GST return filing, and when is it triggered?
The Reverse Charge Mechanism (RCM) in GST (Goods and Services Tax) is a system where the recipient of goods or services is liable to pay GST instead of the supplier.…
23 Lacs Old notes deposited in Bank – ITAT added 20.50 Lacs in Income
The ITAT sustained the addition made by the ITO to the extent of Rs. 20,50,000, reducing it from the original Rs. 23,00,000 by acknowledging the availability of Rs. 2,50,000 as…
Blank Cheques Assumed for Debt Unless Proven Different – Kerala High Court
Blank Cheques Assumed for Debt Unless Proven Different - Kerala High Court
What is the difference between direct and indirect taxes in India?
In India, taxes are broadly classified into two categories: direct taxes and indirect taxes. Let's break down the differences in simple terms: Direct Taxes: Definition: Direct taxes are paid directly…
Unexplained Cash Credit or Cash Gift – Sec. 68 of Income Tax Act
Unexplained Cash Credit or Cash Gift - Sec. 68 of Income Tax Act
What is the role of the Central Board of Direct Taxes (CBDT) in India?
What is the role of the Central Board of Direct Taxes (CBDT) in India?
11 Important Judgements on NRI Taxation in India in Year2020
11 important j court judgement on NRI taxation in India