Other Briefings
India To Abolish Mandatory Annual GST Audit Requirement
The government has proposed changes to India’s GST audit regime in the Finance Bill, 2021 to ease the compliance burden for businesses and expand the tax base.
India’s Tax Authorities Tighten GST Scrutiny on Small Businesses
India is tightening GST compliance requirements for eligible MSMEs through changes to the GSTR-1 form and payment of a percent of the GST liability in cash.
India’s Tax Authorities Demand GST on Non-Compete Fee, Issue Notices to Firms
Firms in India that have entered into non-complete agreements have to pay 18 percent GST on the non-compete fee.
GST Audit in India Begins for FY2018: What Should Businesses Know
We write about key documents and compliance requirements that businesses should prepare as the first GST audit in India gets underway.
Register Your Business for the GST in India
GST registration enables goods and service providers to collect GST from their customers. In this article, we enumerate the rules and regulations for registering under GST, as well as penalties for noncompliance.
Impact of GST on Imports and Exports in India
Launched on July 1, 2017, the GST has changed the way businesses are done in India. In this article, we examine the impact of GST on imports and exports.
How to Manage the New GST Audit in India
The purpose of GST audit is to allow taxpayers to assess their own tax liability without any intervention from tax authority. The last date for filing GST audit report for fiscal year 2017-18 is June 30, 2019.
GST Composition Scheme for SMEs in India
The composition scheme under the Goods and Services Tax allows SME suppliers of goods (intrastate) to file their GST returns at a fixed rate. We discuss the advantages and challenges of the scheme.
