These time of supply rules are crucial for businesses and tax authorities to ensure that GST is paid promptly & accurately. This article provides a detailed exploration of the concept of time of supply under the GST Act of 2017.

A tax audit under the Income Tax Act becomes compulsory when the annual gross turnover or receipts exceed a specified limit. Chartered accountants, as defined in Section 44AB of the Income Tax Act, 1961, conduct tax audits.

Indexation is a method that accounts for inflation from the time of asset purchase to its sale. It adjusts the purchase price of the investment, thereby reducing the overall taxable capital gain amount.