Goods and Service Tax
GST Applicability & Tax Rates on Cement Industry
The Indian cement industry is the 2nd largest cement producer in the world after China. The Indian Government is highly focused on developing infrastructure, affordable housing, and roads as announced by the finance minister Mr. Arun Jaitley in the ...
How to file GST returns in Bangalore?
INTRODUCTION: Goods and Services Tax (GST) has revolutionized the Indian tax system by replacing multiple indirect taxes with a single, unified tax regime. For businesses operating in Bangalore, the process of filing GST returns is crucial for ...
GST Invoicing in Case of Online Aggregators like Urban Company, Ola or Uber
To understand the affect of GST on UrbanClap we have to understand what type of business transactions does urbanclap does. What is Urbanclap? UrbanClap is a platform to make our urban lives more fulfilling to solve our needs in a clap. Hence the ...
GST Registration In Bangalore
Introduction to GST Registration Goods and Services Tax (GST) is a comprehensive, indirect tax levied on the supply of goods and services in India. It has replaced various indirect taxes like VAT, Service Tax, and Excise Duty. GST registration is ...
GST Applicability & Tax Rates on Art & Culture
Art work, antiques etc. Falls under HSN code chapter 97 of GST commodity tariff schedule. The details about GST rate changes for sale of art work, antiques etc. Are being updated here. The notification changes on exemptions for GST for sale of art ...
GST Applicability & Tax Rates on Research & Development
Leveraging Existing Policies/Schemes for R&D Tax/Expenditure Relief With Indian entities (including Global Corporations having R&D Operations in India) nowadays becoming more and more Research (R&D) oriented, it is imperative that Research ...
GST Applicability & Tax Rate on Biotechnology
The rationalization of the goods and services tax (GST) rates has dealt a severe blow to Indian scientists. As the tax rates on scientific and technical instruments to public research institutes went up from 5% to “applicable rates,” scientists will ...
GST Applicability & Tax Rates on Bank & NBFC
The introduction of GST in India is a substantial shift from the current tax regime. It is expected that service sectors will have a major impact on GST than the manufacturing or trading sector. Among the services provided by Banks and NBFCs, ...
GST Applicability & Tax Rates on Aviation
Cross credits for aircraft lease taxes under the GST system will be a great boost for the local service industry. However, the Government will need to carefully consider the inflationary impact of keeping aircraft fuels outside GST. With increasing ...
GST Applicability & Tax Rates on Mining & Minerals
Mining in India is one of the core sectors from where the Government is getting good revenue whether it be in the nature of license fees royalty or leases for mining to private entities. The minerals and mining sector in India is governed by the ...
GST Applicability & Tax Rate on Furniture Manufacturer
Impact of GST Rate on Furniture Manufacturer The tax rate on certain goods and services under GST was declared by the GST council in the meeting held on 18th May 2017. We will be doing a complete analysis of the changes in the tax rate for different ...
Form DRC-01C for ITC Mismatches in GSTR-2B and GSTR-3B
Rule 88D of the CGST Rules: "88D. Manner of dealing with difference in input tax credit available in auto-generated statement containing the details of input tax credit and that availed in return.- (1) Where the amount of input tax credit availed by ...
GST Applicability & Tax Rates on Sports and Athletics
The Goods and Services Tax (GST) has transformed the Indian tax landscape since its implementation in 2017. It has replaced multiple indirect taxes, streamlining the taxation system and impacting various sectors, including sports and athletics. GST ...
GST Applicability & Tax Rates on Printing and Publishing
The Goods and Services Tax (GST) regime, introduced in India on July 1, 2017, brought about significant changes in the taxation system. One of the sectors that saw substantial implications was the printing and publishing industry. This article aims ...
GST Applicability & Tax Rates on Pharmaceuticals
Under the GST system, pharmaceuticals are classified as goods and are subject to GST. This means that manufacturers, distributors, and retailers involved in the pharmaceutical industry are required to comply with GST regulations. NIL GST Rate on ...
GST Applicability & Tax Rates on Hospitality
Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. It has replaced multiple taxes and has simplified the taxation system. When it comes to the hospitality industry in India, GST is ...
How To Start New Business for Retail & E-commerce
Starting your own e-commerce business is an exciting venture, especially if you’ve dreamed about the freedom of being your own boss. If you are crafty or have a knack for selling, then the entrepreneurial route could be a great choice for you. ...
How To Start New Business for Jewellery
Introduction Starting a jewelry business can be a glittering endeavor, full of creativity and potential for financial success. As the global jewelry market continues to grow, driven by consumer demand for unique, personalized pieces, there has never ...
GST Applicability & Tax Rates on Insurance and Banking
Introduction Goods and Services Tax (GST) is a significant indirect tax reform that was introduced in India on July 1, 2017, replacing the complex web of indirect taxes like VAT, service tax, excise duty, and others. GST has brought about a uniform ...
GST Applicability & Tax Rates on Iron and Steel
GST Applicability & Tax Rates on Iron and Steel Introduction The Goods and Services Tax (GST) introduced in India on July 1, 2017, is a comprehensive indirect tax system that has replaced the previous complex structure of taxes, such as Value Added ...
Goods & Service Tax on Electrical Industry
Impact of GST on the Electronics Industry In general, GST registration online has had a considerable impact on the electronics industry. As per the GST Act, household items (which form a large percentage of the items purchased by consumers of ...
GST Applicability & Tax Rates on Advertising and Marketing
Introduction The Goods and Services Tax (GST) system has revolutionized the Indian taxation landscape since its implementation in 2017. One of the key sectors impacted by GST is advertising and marketing, which plays a pivotal role in the promotion ...
GST Applicability & Tax Rates on Electrical Industry
Goods and Services Tax (GST) Applicability & Tax Rates in the Electrical Industry The Goods and Services Tax (GST) is a significant tax reform in India that has streamlined the taxation system by replacing multiple indirect taxes with a unified tax ...
GST Applicability & Tax Rates on Supply Chain Management
The Goods and Services Tax (GST) has been a game-changer in the Indian tax landscape since its implementation on July 1, 2017. This comprehensive indirect tax reform has not only simplified the taxation system but also significantly impacted various ...
GST Applicability & Tax Rates on Automobile
The Goods and Services Tax (GST) was introduced in India on July 1, 2017, with the aim of simplifying the country's complex tax structure and unifying the taxation system. One of the significant sectors impacted by GST is the automobile industry. In ...
GST Applicability & Tax Rates on Cement Industry
The Goods and Services Tax (GST) is a comprehensive tax reform implemented in India in July 2017, aimed at simplifying the tax structure and reducing the cascading effect of taxes. The cement industry, being a crucial sector for the Indian economy, ...
GST Applicability & Tax Rates on Textiles
In terms of GDP, employment, and export promotion, India’s apparel sector is one of the oldest and largest contributors to the country’s economic development. The textile sector, one of the country’s oldest manufacturing industries and the second ...
GST Applicability & Tax Rates on Freelancer
Freelancing has become an increasingly popular way for individuals to offer their skills and services in today's digital age. Whether you're a graphic designer, content writer, web developer, or provide any other service, understanding the Goods and ...
GST Applicability & Tax Rates on Food
GST on Food We help you understand all about GST on food items, GST on restaurants, and how a restaurant bill will look under GST. We also explain the different GST rates applicable on foods in hotels vs. the GST rate on foods in standalone ...
New Amnesty Scheme under GST Dated 31st March 2023
New Amnesty Scheme under GST 49th GST Council Meeting, held on 18th February 2023, recommended the introduction of New Amnesty Scheme under the following circumstances – Registration has been cancelled for non-filing of GST returns and application ...
Decisions in 50th Meeting of the GST Council
The Goods and Services Tax (GST) Council, at its 50th meeting on July 11, reduced or clarified the tax rate on some items ranging from uncooked or unfried snack pellets to special utility vehicles (SUVs), exempted imported drugs to treat cancer and ...
GST compliance for Healthcare Providers in India
The implementation of the Goods and Services Tax (GST) in India has brought significant changes to the taxation system. It aims to streamline the indirect taxation structure and create a unified market across the country. Healthcare providers, ...
GST compliance for IT Companies in India
The Goods and Services Tax (GST) was implemented in India on July 1, 2017, with the aim of simplifying the taxation system and unifying various indirect taxes across the country. For IT companies operating in India, understanding and adhering to GST ...
GST compliance for Real Estate Developers in India
Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. Implemented on July 1, 2017, GST brought about a major reform in the country's taxation system. For real estate developers, GST ...
Company Tax Return Penalties In India
The taxpayers have to file the income tax return of their income earned up to 31st July of the assessment year relevant to the financial year, unless extended. The government gives a four-month window every Assessment Year (A.Y.) for taxpaying ...
Annual General Meeting (AGM) In India
Conducting an annual general meeting successfully is quite a crucial task considering the vital importance of such get-togethers of a company’s Board members and shareholders. These people are basically the ones managing all the business processes ...
Income Tax Saving Tips in India
In order to know that how much you can actually save on taxes it is important to understand the slabs. Based on the annual income of an individual, the tax payers are categorized in income tax slab. So, if you are really looking for a way to save on ...
GST compliance for Restaurants in India
Goods and Services Tax (GST) compliance for restaurants in India is governed by the Goods and Services Tax Act, 2017. Here are some key aspects of GST compliance for restaurants: 1. Registration Restaurants in India are required to register for GST ...
GST compliance for Wholesalers in India
Goods and Services Tax (GST) is an indirect tax system that has transformed the way businesses operate in India. For wholesalers, GST compliance is crucial to ensure adherence to the tax regulations and avoid penalties. This comprehensive guide ...
GST compliance for Retailers in India
The Goods and Services Tax (GST) is a unified indirect tax system implemented in India on July 1, 2017. It replaced multiple state and central taxes, streamlining the taxation process and fostering a more transparent and efficient business ...
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