GST on Garden Expenses for RWAs – A Simple Guide
Maintaining green spaces in housing societies is more than a beautification task—it’s part of everyday upkeep. But when Resident Welfare Associations (RWAs) spend on garden-related items, one question often comes up: Can they claim Input Tax Credit (ITC) under GST? Some believe that such expenses fall under blocked credits as per Section 17(5)(c) of the […]
ITC on Goods Damaged, Destroyed by Fire or Stolen: Complete GST Guide 2025
Introduction Have your goods ever been lost, destroyed in a fire, or stolen during transport? Situations like these affect not just your stock, but also your tax credits. According to Section 17(5)(h) of the GST Act, you cannot claim or retain ITC on goods that are lost, stolen, destroyed, written off, or given away as […]
Merchant Exports Under GST: Procedure, Benefits, and Compliance
Merchant exports are an essential part of India’s export ecosystem. The GST framework provides several benefits to these exporters by simplifying compliance and reducing tax outflows. This blog explains the key aspects of merchant exports under GST in a way that’s easy to understand. What Are Merchant Exports? A merchant exporter buys goods locally and […]
GST Fraud Case: Key Lessons from Reliable Trading Company vs. DGGI
The Allahabad High Court recently dismissed a major GST-related writ petition. The case involved M/s Reliable Trading Company, accused of wrongly claiming Input Tax Credit (ITC) using fake suppliers. This decision has sparked interest across the business and tax community. Let’s break it down in plain language and explore what it means for you. Quick […]
How to Use the Make in India Logo the Right Way – A Simple Guide for Businesses
The “Make in India” campaign is a big step taken by the Indian government to support local manufacturing and boost the country’s economy. The campaign has a special lion-shaped logo that helps people easily recognize products and services that are made or designed in India. If your business wants to use the “Make in India” […]
The Power of Renunciation: The Path to Purposeful Leadership
The Wisdom of Letting Go: Leadership Lessons from the Bhagavad Gita 2.71 Modern entrepreneurship often celebrates relentless ambition—the “never settle” culture that urges us to chase more: bigger revenues, new markets, constant hustle. Yet, the ancient wisdom of the Bhagavad Gita, especially in Chapter 2, Verse 71, offers a strikingly counterintuitive insight that’s as powerful […]
Kerala HC Relief: ITC Mix-Up Doesn’t Invite Penalty
Introduction In a landmark decision, the Kerala High Court ruled that a genuine mistake in classifying Input Tax Credit (ITC) under the wrong head in GSTR-3B does not justify penal action under Section 73 of the CGST Act—provided the total ITC balance is sufficient to cover the tax liability. The judgment, dated April 1, 2025, […]
What is Smart Contracts -based Accounting?
Smart contracts are self-executing programs on a blockchain that enforce the rules and terms inscribed in their code. In accounting, smart contracts can automate: – Recording transactions (journals, ledgers) – Enforcing payment terms – Revenue recognition – Asset tracking and depreciation – Compliance and audit trails Key Features 1. Automated Bookkeeping – Transactions (e.g., payments, […]
