Category Archives: Income Tax Company

GST for Foreign Companies: Registration, OIDAR & Compliance 📌 Quick Answer: Do Foreign Companies Need GST Registration in India? Yes — foreign companies supplying goods or services in India must register under GST as a Non-Resident Taxable Person (NRTP) under Section 24(v) of the CGST Act or through the Simplified Registration Scheme for OIDAR (Online […]

GST Composition Scheme: Eligibility, Rate & Limitations 📌 Quick Answer: What Is the GST Composition Scheme? The GST Composition Scheme under Section 10 of the CGST Act is a simplified tax payment and compliance mechanism for small taxpayers with aggregate turnover up to ₹1.5 crore (₹75 lakh for special category States). Composition taxpayers pay tax […]

GSTR-9 Annual Return: Filing Guide, Reconciliation & Common Errors 📌 Quick Answer: GSTR-9 is the annual return that every regular GST taxpayer must file under Section 44 of the CGST Act, read with Rule 80 of the CGST Rules. It consolidates all monthly/quarterly return data (GSTR-1, GSTR-3B, and GSTR-2B) filed during the financial year into […]

GSTR-1 & GSTR-3B Filing: Due Dates, Late Fees & Corrections Quick Answer GSTR-1 (outward supply return) is governed by Section 37 of the CGST Act read with Rule 59, due on the 11th of the following month (monthly filers) or 13th of the month following the quarter (QRMP filers). GSTR-3B (summary return with tax payment) […]

E-Way Bill Penalty: Detention & Release Under Section 129 📌 Quick Answer Section 129 of the CGST Act authorises detention and seizure of goods transported in contravention of GST provisions — most commonly for e-way bill violations under Rule 138. The penalty post the Finance Act 2024 amendments is 200% of the tax payable where […]

ITC Denial: GSTR-2B Mismatch & Appeal Strategy Quick Answer Input Tax Credit denial due to GSTR-2B mismatch is the single largest category of GST disputes in India. The department denies ITC under Section 16(2)(c) of the CGST Act when the supplier has not uploaded invoices in GSTR-1 or has not paid the tax collected. At […]

GST Registration Cancellation & Revocation Procedure Under Section 29 and Section 30 Quick Answer GST registration cancellation under Section 29 of the CGST Act can be initiated by the taxpayer (voluntary) or by the proper officer (suo motu). Section 30 provides the remedy — revocation of cancellation within 30 days (extendable to 90 days) by […]

Section 148/148A Reassessment: Defence Strategy & Response Guide Quick Answer A Section 148 reassessment notice means the Income Tax Department believes your income has escaped assessment for a past year. Since 1 April 2021, every Section 148 notice must be preceded by a Section 148A inquiry — a mandatory procedural safeguard where you get a […]