Blog tagged as Changesingst

Online food delivery through Swiggy and Zomato has become a major part of restaurant business. However, many restaurant owners are confused about GST liability, ITC eligibility, and return filing for these transactions.

The GST Network (GSTN) has issued an important update regarding the reporting of: ✔ ITC reversal and re-claim ✔ RCM liability and corresponding ITC claim. To avoid clerical mistakes and excess ITC claims, GSTN has introduced two ledgers on the GST portal

Many businesses claim Input Tax Credit (ITC) every month, but not everyone truly understands how it works — or what can go wrong. Let’s simplify ITC so you can claim it correctly and confidently

In a recent case, a person had given a cheque to another party for a transaction.Later, when a dispute arose, the cheque was lost, and only a xerox copy of that cheque was available.

Imagine waking up one morning and finding a big brown envelope from the Income Tax Department. You open it and your eyes freeze — it says you have undisclosed income of ₹2.28 crore, and you must pay tax and penalty running into tens of lakhs!