Category: GST
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Revenue Recognition for Spillover Projects and GST Implications
1. Introduction Revenue recognition is a critical aspect of financial reporting, particularly for service-based businesses and infrastructure projects that span multiple financial years. The timing of recognizing revenue has direct…
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GST Update: Time Limit for Reporting e-Invoices Reduced to 30 Days – What Businesses Need to Know
New 30-Day Deadline for e-Invoice Reporting The GST Network (GSTN) has introduced a significant time limit of 30 days for reporting invoices on the e-Invoice Invoice Registration Portal (IRP). This change applies to…
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GST Update: E-invoice Limit Reduced to ₹1 Crore from April 2025—What Businesses Need to Know
The GST Council is considering a significant revision in e-invoicing rules, which may lower the mandatory e-invoicing threshold from ₹5 crore to ₹1 crore, effective April 1, 2025. If this proposal is implemented,…
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GST Update: Now Unregistered Persons Can Generate e-Way Bills Using Form ENR-03
In a move to simplify compliance, the GST authority has recently introduced Form ENR-03, allowing unregistered persons or small businesses to enroll directly on the e-Way Bill Portal. This new provision…
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Centre Plans to Cut States’ Tax Share: What It Means for Your Taxes, Fuel Prices, and Welfare Schemes
Introduction When you pay GST (Goods and Services Tax), did you know where it actually goes? SGST (State GST) → Goes directly to the state government CGST (Central GST) → Goes directly to the central government IGST (Integrated…
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How to Handle GST Notices & Avoid Common Compliance Traps
Introduction Receiving a GST notice from the tax department can be a serious concern for businesses. With increasing scrutiny on GST compliance, even minor errors in return filings or Input Tax Credit…
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GST on E-commerce Sellers: How Online Businesses Can Stay Tax Compliant
Introduction With the rise of e-commerce platforms like Amazon, Flipkart, Meesho, Nykaa, and Shopify, thousands of businesses are selling online. However, many sellers fail to comply with GST laws, leading to penalties,…
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GST Notices & Scrutiny: A Comprehensive Guide to Handling GST Demand Notices
Introduction Under the Goods and Services Tax (GST) Act, 2017, businesses are required to comply with various tax obligations, including filing returns, maintaining proper records, and ensuring accurate tax payments. In…
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Listing Your Restaurant on Swiggy & Zomato: A Complete Tax Compliance Guide (2025 Update)
Introduction The online food delivery business is booming in India, with Swiggy and Zomato leading the market. For restaurant owners, listing on these platforms increases visibility and sales. However, it also…
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GST on SaaS Businesses in India: Foreign Payments & Reverse Charge Mechanisms
Introduction The SaaS (Software as a Service) industry in India has witnessed significant growth, with businesses offering cloud-based software solutions to global customers. However, understanding GST implications on SaaS businesses, especially concerning exports, foreign…
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