Non-payment Non-payment, If you do not pay an invoice, there can be several consequences depending on the situation. Here are some of the possible outcomes: 1.Late payment fees or interest charges: The first consequence of not paying an invoice on time is that you may be charged late payment fees or interest charges. This is… Read More »
GST Non Compliance GST Non Compliance, refers to the failure of a registered taxpayer to fulfil the requirements and obligations as prescribed by the Goods and Services Tax (GST) laws and regulations. Non-registration: Failing to register for GST when required by law, either due to not meeting the threshold for registration or intentionally avoiding… Read More »
TDS on Interest on late payment TDS on Interest on late payment, No, Tax Deducted at Source is not applicable on interest due to late payments made to creditors. Tax Deducted at Source is specifically applicable to certain types of payments such as salaries, rent, professional fees, etc., as outlined in the Income Tax… Read More »