What is Reverse Charge Mechanism (RCM)? Applicability of Reverse Charge Mechanism RCM is applicable under the following circumstances: Implications of Reverse Charge Mechanism for Businesses Understanding the implications of RCM is essential for businesses, as it affects their tax liability and compliance requirements in the following ways: Tax Liability: Input Tax Credit (ITC): Recipients can … Read more
When Did GST Introduce In India ? Introduction: Key Objectives of GST 1. One Nation, One Tax Simplified Tax Structure Boost to Economic Growth Digital Transformation Simplification of Tax Compliance Cost Efficiency: Market Expansion: When did GST Introduce In India ? The creation of a common national market facilitated the free movement of goods … Read more
Monthly GST compliances are the formost regulatory needs of every business.The Goods and Services Tax (GST), implemented in India in 2017, has revolutionized the country’s indirect tax landscape. With its introduction, businesses are required to comply with various monthly GST-related obligations. Understanding these monthly gst compliances and their importance is crucial for businesses to ensure … Read more
