Latest Articles By Mohammad Abid Khan

Alternate Minimum Tax (AMT) is a taxation concept introduced to ensure that taxpayers claiming multiple deductions or exemptions still contribute a minimum amount of tax to the government. It acts as a balancing mechanism for equity and prevents misuse of tax benefits. AMT mainly applies to non-corporate taxpayers like LLPs, partnership firms, and individuals availing certain… Read more

GST return filing looks simple on paper, but in real business life, errors often happen. The reasons are common. Data comes from many sources, invoices get edited, purchase bills get missed, and tax rules are misapplied. Even a small mistake can create a mismatch, extra follow-ups, and sometimes gst penalties. This is why businesses now prefer… Read more

Repairing services include maintenance, fixing and restoration of machinery, equipment, vehicles and household items. Under GST, most repairing services are treated as maintenance and repair services, and you must select the correct service accounting code based on what you repair.

Transportation services keep goods and people moving across India. Under GST, these services must be billed using the correct HSN or service accounting code so that tax is calculated and reported in the right way. When you understand the transportation HSN code, it becomes easier to choose the right code for passenger transport, goods transport and… Read more

V belts are widely used in motors, pumps and industrial machines for power transmission between pulleys. Dealers, mechanics and manufacturers need to know the correct V belt HSN code and GST rate so that they can issue proper invoices and claim input tax credit without confusion.

Umbrellas are common consumer products used for rain protection, sun protection and even as a fashion accessory. Under GST, all these types of umbrellas have to be classified under the correct HSN code so that the tax is applied properly.

Tiles are widely used in homes, offices, shops and industrial buildings for floors and walls. Traders and contractors deal in many types of tiles such as ceramic tiles , vitrified tiles and glazed wall tiles. To use the tiles HSN code correctly and apply the right GST rate, dealers, manufacturers and building contractors need to know… Read more

Tea is one of the most widely consumed beverages in India. Traders, grocery stores, cafes and online sellers deal in loose tea, tea powder , green tea and tea bags in many forms. To use the tea HSN code correctly and apply the right GST rate, businesses need to understand how different tea products are classified… Read more

T shirts are one of the most common ready made garments sold in India. Every trader, wholesaler and online seller needs to know the correct T shirt HSN code so that GST on these products is charged in the right way. In this guide you will learn the main T shirt HSN code, how it applies… Read more

Copper wire is a key input in electrical wiring, motors, transformers and many other industrial products. Under GST it is classified based on whether the wire is bare copper or insulated for electrical use. Bare copper wire appears under the chapter for copper and articles of copper, while insulated copper wire generally comes under the chapter… Read more

Pillows are used in homes, hotels, hospitals and many other places to provide comfort and support while sitting or sleeping. They can be bed pillows, decorative cushions, travel pillows or special orthopedic and memory foam pillows. Under GST, pillows are usually classified along with other bedding and similar articles. Correct pillow HSN code helps businesses apply… Read more

Phenyl is a common cleaning liquid used for floors, toilets and large commercial spaces. Both white phenyl and black phenyl are treated as disinfectants or cleaning preparations under GST. For correct taxation every trader and manufacturer has to map phenyl products to the right HSN code and GST rate.

Pesticides are essential inputs for farmers and agricultural businesses. They control insects, weeds, fungi and other pests that harm crops. Under GST, pesticides can fall under different HSN codes based on their chemical nature and use, and they usually attract a higher tax slab compared to basic fertilizers. Most pesticides are grouped under Chapter 38 of… Read more

Indian papad is a very common food item in homes, restaurants, and snack businesses. It is usually made from pulses like urad, moong, chana, or rice and then dried. Under GST, papad is treated as a food product and is covered under a specific HSN code so that tax can be applied correctly. For manufacturers, wholesalers,… Read more

Pants are common ready made garments sold by garment shops, wholesalers and brands across India. They include cotton formal pants, casual trousers, track pants and many styles for men and women. To apply GST correctly, you should understand the pant HSN code, see how garments are classified by fabric and style and know how the current… Read more

Mild steel (MS) channels are widely used in construction, fabrication, racking systems and structural frames. They form part of the basic steel sections that support roofs, sheds, machinery platforms and many other structures. Under GST, MS channels must be reported with the correct HSN code and GST rate so that input tax credit and tax liability… Read more

Mirrors are widely used in homes, offices, retail stores and bathrooms. They can be plain wall mirrors, decorative framed pieces, bathroom mirrors with shelves or mirrors integrated in furniture. Under GST, most glass mirrors fall under specific HSN codes depending on whether they are framed or unframed. Knowing the right HSN code helps you apply the… Read more

Masking tape is a lightly adhesive tape used in painting, surface protection and general purpose masking work. It can be made from crepe paper, film or other backing material with a special adhesive that allows clean removal. Under GST, masking tapes are classified based on their material and whether they fall in the category of plastic… Read more

Iron scrap is generated in fabrication, engineering, construction and recycling activities. Under GST, iron and steel scrap are grouped under the ferrous waste and scrap headings, and correct HSN code usage is important for scrap dealers, manufacturers and recyclers.

Insulation tape is mainly used for insulating and protecting electrical connections. Under GST, most PVC insulation tapes are classified as self-adhesive plastic tapes, while specialised high-temperature or fabric-based tapes may fall under other headings depending on their composition.

Envelopes are widely used by offices, schools, banks and businesses for sending letters, bills and documents. Even though they look simple, they need proper HSN classification because they are treated as a separate paper product under GST. In GST, most envelopes fall under Chapter 48, which covers paper and paperboard and articles made of these materials.… Read more

Electrical distribution and control panels are used to manage power in factories, offices and homes. Under GST, most standard electrical panels such as distribution boards, MCC panels and control panels are classified under HSN code 8537. Correct use of this HSN code helps vendors apply the right GST rate, prepare invoices properly and keep returns error… Read more

Curtains and curtain fabrics are common items in homes, offices and shops. For GST filing, they must be classified under the correct HSN code so that tax calculation, invoicing and returns stay accurate. This guide explains the HSN code, GST rate and basic rules for cloth curtains, curtain fabric and ready made window curtains.

Cosmetic and beauty products are used every day by households, salons and retail shops. Under GST it is important to know the correct cosmetic HSN code so that invoices are made correctly and tax is paid at the right rate. This guide explains the main HSN codes for cosmetics and beauty products, how GST applies on… Read more

Cat 6 cables are high performance network cables used for LAN, internet and data transfer in offices, shops, factories and homes. Under GST, these cables must be reported with the correct HSN code so that invoices, e-way bills and returns stay accurate. Knowing the right Cat 6 cable HSN code also helps avoid disputes during assessment… Read more

Brushes are used in homes, offices and industries for cleaning, polishing, painting and many other jobs. They come in many forms like floor brushes, bottle brushes, wire brushes and industrial machine brushes. For GST, all these types have to be classified under the right brush HSN code so that tax rate and reporting stay correct.

Bolts are one of the most common fasteners used in construction, machinery, automobiles and metal fabrication. They are used along with nuts and washers to hold two or more parts tightly together. For GST billing, it is very important to use the correct HSN code for bolts so that tax is charged properly and input tax… Read more

Binding wire is widely used in construction sites, fabrication shops and industrial units to tie steel bars, mesh and other materials. It is usually made of mild steel and supplied in coils or rolls. For builders, hardware traders and manufacturers, knowing the correct binding wire HSN code is important for accurate GST billing and return filing.… Read more

The integration of blockchain technology in accounting is transforming how businesses record, verify, and audit financial transactions. It brings unmatched transparency, accuracy, and trust to financial data management. As industries shift towards digital transformation, blockchain is becoming a game-changer in ensuring real-time, tamper-proof financial reporting.

Minimum Alternate Tax (MAT) ensures that companies pay a minimum amount of tax, even when their taxable income is reduced by various exemptions or deductions. It prevents zero-tax situations and maintains equity among taxpayers. MAT applies primarily to companies with large book profits but low or nil taxable income under regular provisions.

To encourage domestic manufacturing and attract global investment, the Government of India introduced Section 115BAB , offering one of the lowest corporate tax rates globally. This section provides new manufacturing companies with a concessional tax rate of 15% , making India a competitive hub for industrial growth. Let’s understand what is Section 115BAB , its eligibility,… Read more

Dividend Distribution Tax (DDT) was once a key part of India’s corporate tax system, requiring companies and mutual funds to pay tax on the dividends distributed to investors. Although DDT was abolished in 2020, understanding its history, rates, and subsequent changes is essential to grasp how dividend taxation works today. Let’s explore how DDT worked, its… Read more

Corporate tax is one of the most important aspects of business finance and compliance. Understanding it helps companies not only remain legally sound but also optimize their financial strategy. This guide covers the meaning, filing process, rates, and major benefits of corporate tax for businesses in India.

Money laundering poses one of the most significant risks to global financial systems. To combat this, governments and regulators have introduced strict anti-money laundering (AML) frameworks that require organizations to maintain transparency in their financial reporting. AML disclosures have become a cornerstone of corporate governance, ensuring accountability and compliance across financial institutions and corporates alike.

Returns and RTO/RTS (Return to Origin/Return to Seller) are part of every online business, but handling their accounting and GST impact can get complicated. This guide explains how to record returns and refunds properly, automate RTO/RTS entries, and stay compliant with GST rules.

When you sell through an e commerce platform in India, you need to deal with TCS or Tax Collected at Source under Section 52 of the CGST Act. This blog explains what Section 52 means for sellers on marketplaces, how to record it step by step in your accounting system, and how to reconcile everything using… Read more