Madras High Court held that it is not justifiable to impose disproportionate liability under section 74 of the respective GST enactments merely because Input Tax Credit was wrongly availed/ utilized.

Dealer incentives like tour packages are taxable as business income under the new law. If TDS is borne by the payer, it must ...

Learn how debits increase assets or decrease liabilities, their role in double-entry accounting, and how they balance with ...