One of the most frequently misunderstood concepts under the Goods and Services Tax (GST) law is the Time of Supply. While businesses generally focus on determining the correct GST rate and value of supply, they often overlook the fact that GST liability arises based on the Time of Supply, not necessarily when payment is received […]
Running a restaurant involves much more than serving delicious food. Restaurant owners must also comply with various GST provisions related to tax rates, input tax credit (ITC), invoicing, registration, food delivery platforms, takeaway orders, and catering services. Understanding these rules is essential to avoid unnecessary tax demands and penalties. Whether you operate a fine-dining restaurant, […]
Running a medical store involves much more than dispensing medicines. Pharmacy owners must manage inventory with varying GST rates, comply with drug regulations, maintain proper records, and ensure timely GST compliance. For small and medium-sized medical stores, the GST Composition Scheme appears to be an attractive option because of its simplified tax compliance. However, choosing […]
The transportation and logistics sector plays a crucial role in India’s supply chain. Every day, manufacturers, traders, wholesalers, retailers, and e-commerce businesses rely on transporters to move goods across the country. However, GST provisions applicable to transporters are unique and often misunderstood due to special concepts such as Goods Transport Agency (GTA), Consignment Note, Reverse […]
Introduction Determining the correct Place of Supply (POS) is one of the most important aspects of GST compliance. A wrong determination can result in charging CGST and SGST instead of IGST (or vice versa), denial of Input Tax Credit (ITC), refund disputes, interest liability, and GST notices. For manufacturers, traders, consultants, contractors, software companies, exporters, […]
Input Tax Credit (ITC) is one of the biggest benefits available under the GST regime. However, many businesses in Pune, Pimpri-Chinchwad, and across Maharashtra unknowingly claim ITC on expenses that are specifically restricted under GST law. Such incorrect claims often become a major reason for GST notices, departmental audits, and tax demands. Understanding blocked credits […]
The Software as a Service (SaaS) industry has witnessed remarkable growth in India. From startup founders developing subscription-based software to established technology companies serving global clients, SaaS businesses are becoming a major contributor to the digital economy. However, GST compliance for SaaS companies remains a complex area due to issues such as place of supply, […]
A recent GST fraud case uncovered by the Delhi Economic Offences Wing (EOW) has once again exposed how shell companies, fake invoices, and identity theft are being used to manipulate the GST system in India. According to reports, the racket allegedly created nearly 250 fake firms and routed transactions worth more than ₹130 crore by […]
Many businesses in Maharashtra operate through multiple GST registrations across different states or business verticals. A common mistake seen during GST assessments and departmental audits is the non-compliance of “cross charge” provisions between Head Office (HO) and Branch Offices (BO). Businesses often assume that internal support activities like accounting, HR, management supervision, IT support, or […]
GST on corporate guarantees has become one of the most discussed topics among companies, CFOs, finance teams, and business groups across Pune, Mumbai, Chinchwad, and industrial regions of Maharashtra. After recent GST valuation amendments and departmental scrutiny, businesses are increasingly concerned about whether providing a corporate guarantee to banks on behalf of related parties attracts […]
