Section 14 – Time of supply in case of a change in Rate of tax.
One of the critical sections under the Central Goods and Services Tax (CGST) Act is Section 14. This section deals with the change in the rate of tax in respect of the supply of goods or services. What is Section 14 of the CGST Act? Section 14 of the CGST Act provides guidelines on how […]
The Future of Business Models: Trends to Watch!
In the ever-evolving landscape of business, staying ahead of the curve requires a keen eye on emerging trends. As we navigate through 2024, several transformative trends are shaping the future of business models. These trends are not just fleeting fads; they represent significant shifts in how companies operate, deliver value, and engage with customers. Here’s […]
Clarification on Input Tax Credit for Optical Fiber Cable Network Components
The Ministry of Finance recently issued a crucial circular. This circular clarifies the availability of Input Tax Credit (ITC) for ducts and manholes used in optical fiber cable (OFC) networks. This update is essential for the telecommunications sector. It aims to ensure uniform implementation of the law and to prevent unnecessary litigation. Background The Cellular […]
Are You an Honest Taxpayer?
As the IT return season is upon us, a recent survey conducted by the Economic Times has brought to light a concerning trend. The survey finds that a significant majority of taxpayers are willing to resort to dubious means to avoid paying taxes. This revelation begs the question: Are you an honest taxpayer? The Importance […]
From Idea to Execution: Testing Your Business Model !
Starting a business is an exciting journey, filled with the promise of innovation, growth, and success. However, the journey from a mere idea to a fully executed business model is fraught with challenges. Testing your business model is a critical step that can determine the viability and potential success of your venture. In this blog, […]
How is the impact of AI and Blockchain redefining Electronic Health Records(EHR)?
In today’s digital world, the integration of AI and Blockchain with Electronic Health Records (EHR) promises a healthcare revolution. These technologies bring a wide range of opportunities to improve data security, interoperability, patient engagement, and overall healthcare delivery. By combining the strengths of AI and Blockchain, EHR systems can become more efficient, secure, and patient-centred. […]
Enhancements to Address-Related Fields in GST Registration Functionalities
The Goods and Services Tax Network (GSTN) has introduced several enhancements to address-related fields in the GST registration functionalities. These changes aim to improve the GST registration process for taxpayers by incorporating user feedback and analyzing tickets. Here are the details of these enhancements: 1. Update in Validations for Address Fields a. Address is in […]
Madras HC Quashes GST Order, Mandates Reassessment
Madras High Court has overturned a GST assessment order involving Ace Industrial Gases Pvt. Ltd., due to inadequate communication about the proceedings. Case Background Key Issues Ace Industrial Gases Pvt. Ltd. challenged the assessment order from November 21, 2023. They argued that the authorities did not inform them about the proceedings, as they only uploaded […]
GST Reconciliation Made Easy: Compliance Tips for Businesses
Introduction Navigating the complexities of Goods and Services Tax (GST) compliance can be a daunting task for businesses of all sizes. Ensuring accurate GST reconciliation is essential for maintaining compliance and avoiding penalties. This blog will outline the key aspects of GST reconciliation and provide a comprehensive GST compliance checklist to help businesses streamline their […]
bmX (Business Model Extensive) Workshop: Unlock Your Business Potential
Are you ready to take your business to new heights? We’re gearing up for an exhilarating journey at our Free bmX Workshop tailored for startups and established businesses alike! What’s bmX, you ask? It’s all about delving deep into your Business Model and Extensively exploring its potential! Whether you’re a budding entrepreneur or a seasoned […]