All you need to know about Input Tax credit under GST
According to the defined terms, input credit under GST implies the clause of reduction in tax payable on output concerning the tax already paid on input purchase. For example, if...
Advantages of Indirect taxation compared to Direct Taxation
One of the main ways that the Government makes money is through taxes. The Indian Government received a total of Rs. 9,98,037 crore in tax revenue in 2020. The importance...
Types, Benefits, Eligibility, and Tax Rates of Direct Tax
Evading direct tax is equivalent to avoiding your social obligations! You can pay taxes to the Indian government directly by paying a direct tax. Direct taxes are assessed on all...
Regular Scheme Under GST: Composition Scheme
Goods Services Tax is the new concept introduced in the Indian market which is related to taxes. Soon after the introduction of these concepts, a lot of things are happing...