Gifts are often seen as tokens of affection, appreciation, or goodwill, yet under Indian tax law, not all gifts are exempt from taxation. Section 56(2)(x) […]
Hearing Aid Parts and Accessories: Understanding GST Compliance, Technology, and Market Trends
Hearing loss is a widespread issue affecting millions globally, ranging from mild hearing difficulties to complete deafness. Hearing aids play a crucial role in improving […]
Overview of the ICAI Guidance Note on Audit of Banks – 2024 Edition
The banking sector is a cornerstone of any economy, acting as the primary channel for credit, savings, and financial intermediation. Due to the complexity of […]
Understanding GST Turnover: Definition and Scope
In the GST regime, the concept of turnover plays a central role in determining compliance obligations for businesses. Turnover is not merely a financial metric […]
Claiming Refunds for Belatedly Paid Service Tax Under RCM Post-GST: A Comprehensive Guide
The Reverse Charge Mechanism (RCM) has been a critical component of service tax administration in India. Unlike the standard tax collection method, where the service […]
Understanding GST Liability and Its Basis
Goods and Services Tax (GST) is a comprehensive indirect tax that is levied on the supply of goods and services. One of the most common […]
Efficiency, Expertise, and Innovation: The Power of Accounting Outsourcing
In the modern business landscape, outsourcing and offshoring have emerged as essential strategies for organizations seeking efficiency, cost savings, and competitive advantage. Accounting, being a […]
Overview of the GSTR-3B Interest Calculator
The Goods and Services Tax (GST) system continues to evolve with technology to make compliance easier and more transparent for taxpayers. One of the latest […]
GST Migration Simplified: Transitioning from VAT, Excise, and Service Tax to a Unified Tax System
The Goods and Services Tax (GST) is one of the most transformative reforms in India’s taxation landscape. Introduced to unify the fragmented indirect tax system, […]
GST Implications on Leasehold Transfers: Compliance, Case Studies, and Strategies
In the realm of real estate and property transactions, leasehold rights represent a crucial aspect of commercial and residential arrangements. A leasehold right grants a […]