RCM on Rent for GST Composition Dealers RCM on Rent for GST Composition Dealers The Reverse Charge Mechanism (RCM) is a unique aspect of the Goods and Services Tax (GST) system where the liability to pay tax shifts from the supplier to the recipient of the goods or services. This mechanism applies to specific categories … Read more
GST on Co-Insurance and Reinsurance Transactions GST on Co-Insurance and Reinsurance Transactions The Government of India, through Circular No. 244/01/2025-GST, has provided much-needed clarity on the GST implications of co-insurance and reinsurance transactions. This circular, issued by the Ministry of Finance (Tax Research Unit) on January 28, 2025, follows recommendations made in the 53rd GST … Read more
Key Clarifications on GST Applicability on Various Services Key Clarifications on GST Applicability on Various Services The 55th GST Council meeting introduced several clarifications regarding the applicability of GST on various services, as outlined in Circular No. 245/02/2025-GST. Key Clarifications on GST Applicability on Various Services This circular aims to remove ambiguities and ensure uniform … Read more
Delay in Non-Editable Auto-Populated Liability in GSTR-3B Introduction Delay in Non-Editable Auto-Populated Liability in GSTR-3B In an effort to streamline the Goods and Services Tax (GST) filing process and reduce errors, the GST Network (GSTN) had announced a significant change in the way GSTR-3B returns would be filed starting January 2025. The change would have … Read more
Introduction of E-Way Bill Introduction of E-Way Bill On January 20, 2025, the Government of Kerala, in collaboration with the GST Network (GSTN), introduced a new feature in the E-Way Bill (EWB) system to facilitate the generation of EWB for gold and related goods classified under Chapter 71 (excluding imitation jewellery). This marks a significant … Read more
