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Clarification on Section 128A of the CGST Act, 2017- Key Insights on Payment and Waiver of Interest and Penalty

The Central Goods and Services Tax (CGST) Act, 2017, through Section 128A, outlines the waiver process for interest or penalties on tax demands. This section specifically addresses the conditions under which taxpayers can file for waivers, the process for payment, and how disputes are handled. In this article, we will examine essential aspects of Section 128A, focusing on payment methods, application processing, and appeal mechanisms. Here's a breakdown of the key elements:

  • 29th Oct 2024
  • Category: Taxation
  • views: 129

GST Composition Scheme: Advantages and Disadvantages

The Goods and Services Tax (GST) Composition Scheme is a simplified tax regime designed for small taxpayers to ease their compliance burden. It offers a hassle-free way to manage taxes without dealing with complex GST regulations. However, it is not without its limitations. In this blog, we’ll explore the key advantages and disadvantages of the GST Composition Scheme to help businesses decide whether it’s suitable for them.

  • 15th Oct 2024
  • Category: Taxation
  • views: 128

Updated Norms under Income tax [ Sep 27, 2024]

The Indian Government introduced Vivad Se Vishwas Scheme 2.0 in the 2024 Union Budget to resolve long-pending income tax disputes. This scheme is effective from 1st October 2024, is designed to simplify the process for taxpayers to settle disputes by paying a portion of their tax dues. In this blog, we’ll cover the essential details, including eligibility, payment terms, and the application process.

  • 4th Oct 2024
  • Category: Taxation
  • views: 152

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