Tag Archives: #TaxationInspection

Will GST be levied on a legal barter transaction done between 2 companies?

Legal barter transaction

Legal barter transaction   Legal barter transaction, Yes, GST (Goods and Services Tax) may be levy on a legal barter transactions done between two companies. According to the GST Act, any supply of goods or services made for a consideration in the course of business or commerce is taxable, including barter transactions. The value of… Read More »

What is the objective of tax audit?

Tax Audit Introduction Taxation is a critical component of a country’s economy, ensuring revenue generation for public welfare and infrastructure development. However, to maintain transparency, accuracy, and compliance with tax laws, businesses and individuals must adhere to regulatory audits. One such essential audit is the Tax Audit. The objective of a tax audit is to… Read More »