The taxation of capital gains in India is governed by the Income-tax Act, 1961, with key provisions defining how long-term capital assets are taxed. A crucial element in long-term capital gains (LTCG) taxation is indexation, a mechanism that adjusts the cost of acquisition to account for inflation,
The Goods and Services Tax (GST) was implemented in India in July 2017, marking a significant reform in the indirect taxation system. Despite its introduction, numerous questions, complexities, and ambiguities have persisted, leaving certain aspects unresolved. To address these issues, the GST Council plays
The term “inverted tax structure” refers to a scenario where the tax rate applicable to inputs used in the production process is higher than the tax rate on the final goods or services sold. Simply put, it arises when the tax paid on
In India, cash transactions in business are closely regulated under the Income Tax Act, 1961, as part of the government’s efforts to enhance financial transparency, promote digital payment systems, and curb the flow of unaccounted money. Businesses are required to
Introduction to GST Export FAQs: Understanding GST’s Impact on Exports and Compliance The Goods and Services Tax (GST) framework in
Comprehensive Guide to E-Way Bill Generation, Cancellation, and Vehicle Verification Under GST: Advanced FAQs The Goods and Services Tax (GST)
Comprehensive Guide to E-Way Bill Registration, Modifications, and Updates: Ensuring Compliance in Transportation and Logistics You said: In the continuation
Welcome to our comprehensive guide on the E-Way Bill, where we provide clear and user-friendly answers to your common queries
A Hindu Undivided Family (HUF) is a unique and well-recognized concept under Indian law, particularly within the context of the Income Tax Act. It refers to a family unit comprising individuals who are lineal descendants of a common ancestor and are governed by Hindu law.
The implementation of the Goods and Services Tax (GST) framework in 2017 revolutionized India’s indirect taxation system. Over time, amendments and judicial interpretations have further refined the changes in GST registration process. With its focus on
