Tax Deducted at Source (TDS) is a common term for most salaried individuals and business owners. It refers to the tax that is deducted from your income at the source by the payer before you receive it. The payer then remits the deducted tax to the government.…

Goods and Services Tax (GST) is a comprehensive tax system that was implemented in India on July 1, 2017. GST is a value-added tax that has replaced multiple indirect taxes, such as excise duty, service tax, and value-added tax (VAT). The implementation of GS…

RCM is a provision under GST that mandates the recipient of goods or services to pay the tax instead of the supplier. This mechanism is applicable in specific cases where the recipient of goods or services is a registered taxable person under GST. The objecti…

HSN codes, or Harmonized system nomenclature codes, play a crucial role in the Goods and Services Tax (GST) system in India. The HSN code system is an internationally recognized standard for classifying goods, which helps in determining the appropriate tax ra…