GST on Coinsurance and Reinsurance

GST on Co-insurance and Reinsurance: Key Circular 244/01/2025

The Ministry of Finance, through its Tax Research Unit, has issued Circular No. 244/01/2025-GST, dated January 28, 2025. This circular provides crucial clarifications regarding the payment of GST on co-insurance premiums and reinsurance commissions. Let’s delve into the key points and implications of this circular. Key Highlights of the Circular HSN Code for List of […]

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composition scheme for restaurant

How Small Businesses Can Benefit from the GST Composition Scheme

The Goods and Services Tax (GST) has been a game-changer for businesses in India, simplifying the indirect tax structure and promoting compliance. Among its features, the Composition Scheme stands out as a beneficial option for small businesses, including restaurants and small traders, to ease their tax compliance burden. But how exactly does the Composition Scheme […]

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