Ensuring Compliance with GST: Recovery of Outstanding Dues
Navigating the Goods and Services Tax (GST) landscape can be challenging for businesses. Recently, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 224/18/2024. This circular provides crucial guidelines on recovering outstanding dues when the first appeal has been resolved, and the GST Appellate Tribunal is not yet operational. Understanding the Context […]
From Zero to Hero: Crafting a Business Model that Dominates the Market!
Creating a business model that dominates the market is essential for achieving long-term success. Unlike our previous blog, which focused on developing a winning business model, this article will dive into the critical aspects of crafting a model that stands out and thrives in a competitive environment. 1. Analyze Market Dynamics Understanding market dynamics goes […]
How to Develop a Winning Business Model !
Creating a winning business model is crucial for any business aiming for long-term success. A well-defined business model not only outlines how a company creates, delivers, and captures value but also serves as a strategic tool to identify potential challenges and opportunities. Here are the key steps to develop a business model that stands out […]
Understanding the Recent Clarifications on Input Tax Credit (ITC) under RCM
The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 211/5/2024-GST on June 26, 2024. This circular provides essential clarifications regarding the time limit for availing Input Tax Credit (ITC) under the Reverse Charge Mechanism (RCM). This blog covers all the key points from the circular and its implications for businesses. Key Points […]
Important Update: GST Document Upload Size Increased to 500 KB
We are excited to share a significant GST update for all taxpayers regarding the upload of documents for GST registration and amendment. In response to feedback and grievances from the trade community, changes have been made to the size limits for uploading documents related to the Principal Place of Business and Additional Place of Business. […]
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, […]