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Introduction Even though the Goods and Services Tax (GST) simplified India's indirect tax system, small companies still face the greatest challenges with GST compliance. Small businesses frequently struggle to comprehend and comply with the GST. For companies of all sizes, GST Suvidha Providers (GSPs) assist in streamlining this procedure. They help taxpayers comply with GST regulations and offer businesses complete GST solutions. Table of Contents Introduction Who is a GST

Freelancers and consultants in India face unique tax challenges — from managing advance tax payments and GST compliance to selecting the right tax regime. Effective tax planning helps minimize liability and ensures compliance with changing laws. With updates from Budget 2025, freelancers now have clearer options for deductions, presumptive taxation, and reporting income through ITR-3 or ITR-4 forms. Platforms like TaxBuddy simplify these processes using AI-driven tools and e

The idea of "Pin to Pin distance" is crucial to many areas of compliance with the Goods and Services Tax (GST), especially when determining tax liability for interstate transactions and logistics. Business owners must understand the concept of Pin to Pin distance, how it impacts GST compliance , and what it means for businesses. Table of Contents What is Pin to Pin Distance in GST? Importance of Pin to Pin Distance for E-Way Bills Methods to Calculate Pin to Pin Distance Met

The CGST Act's Section 38 deals with providing information on inward supplies, allowing the recipient to add, remove, or alter invoices that the provider provided in his outward supply report (i.e., GSTR-1). However, since this GST model was never put into practice, Section 38 has been modified under Section 104 of the Finance Act, 2022, to offer eligible and ineligible ITC in accordance with the current GST model. Because of the prevalence of input tax credit (ITC) fraud t

A compact car buyer might save over Rs. 70,000 thanks to the GST amendments, which went into effect on Monday, September 22, 2025. Household expenses for groceries and daily necessities would be reduced by 13%. According to government projections, purchases of stationery, apparel, shoes, and medications would result in savings of 7–12%, while individual health and life insurance policies—which are now exempt from GST —would result in savings of up to 18%. These are just a few

In India, gold is a valuable item that can be used as collateral in addition to being a cultural icon. The Goods and Services Tax  (GST) significantly altered the tax structure for a number of industries, and gold is no exception. In India, the Goods and Services Tax (GST) on gold, a valuable and highly sought-after commodity, has become a crucial consideration for investors and buyers. Currently, the value of gold, both 24 carat and 22 carat, is subject to a 3% GST rate , an

Prior to the implementation of the Goods & Services Tax (GST), all business owners and dealers were required to register under VAT. In their sphere of influence, state laws were in charge. As a result, each of them was given a TIN by the authorities in charge of collecting state-level taxes. The Central Board of Indirect Taxes and Customs (CBIC) assigns a comparable registration number to service providers. But since the GST was put into place, all taxpayers have been placed

The World Customs Organisation (WCO) created the Harmonised System Nomenclature (HSN) Code, an internationally standardised system for classifying commodities. The HSN Code, which offers a methodical and rational framework for categorising items, is essential to international trade. This approach makes it easier to identify products and apply the appropriate taxes and levies. Additionally, the HSN Code guarantees adherence to international trade laws and facilitates the gathe

On December 21, 2024, the 55th GST Council meeting took place in Jaisalmer, Rajasthan. The Union Minister of State for Finance, Shri Pankaj Chaudhary, the Chief Ministers of Haryana, Jammu and Kashmir, Meghalaya, and Odisha, the Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana, as well as the Finance Ministers of States and UTs (with legislature) and senior officers of the Ministry of Finance & States/UTs, were among the attendees. Certain goo

GST turnover and ITR turnover represent two sides of the same business activity but under different tax laws—Goods and Services Tax (GST) and Income Tax. Both must align to ensure transparency, prevent scrutiny, and maintain compliance with the authorities. While GST turnover reflects gross sales and services excluding tax components, ITR turnover represents total income after adjusting for expenses, deductions, and exemptions. Mismatched figures can attract audits, demand no