Under the Goods and Services Tax (GST) system, an inverted tax structure occurs when the tax rate on inputs or raw materials is higher than the tax rate on finished goods. This can result in higher input taxes paid by manufacturers, which can lead to an increase in the cost of production and reduce the …
To avoid income tax penalties and late fees in India, here are some tips: By following these tips, you can avoid income tax penalties and late fees in India and keep your tax affairs in good standing with the authorities.
In India, there are restrictions on cash transactions to curb the circulation of black money and promote digital transactions. The restrictions on cash transactions were introduced as part of the government’s efforts to combat corruption and promote a more transparent economy. As of now, the following restrictions are in place: It is important to note …
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