Goods and Service Tax
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 Network Brought under PMLA Act
Govt brings GSTN under PMLA, enables sharing of data with investigating agencies Aiming to plug tax evasion through fake billing, Centre has brought the GST Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA). This will give ...
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 ...
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 ...
GST Compliance for Traders in India
The Goods and Services Tax (GST) is an indirect tax system that has been implemented in India since July 1, 2017. It replaced multiple indirect taxes such as excise duty, service tax, and value-added tax (VAT), bringing them under a single unified ...
GST compliance for Contractors in India
The implementation of the Goods and Services Tax (GST) in India has had a significant impact on the way businesses operate and manage their tax obligations. Contractors, who provide various services in the construction, infrastructure, and other ...
GST compliance for Manufacturers in India
The introduction of the Goods and Services Tax (GST) in India has brought about significant changes in the country's tax regime. As a manufacturer, it is essential to understand and comply with GST regulations to ensure smooth operations and avoid ...
GST compliance for Service providers in India
The implementation of the Goods and Services Tax (GST) in India brought about significant changes in the taxation landscape, impacting service providers across the country. Complying with GST regulations can initially seem daunting, but with a clear ...
GST compliance for E-commerce businesses in India
The introduction of the Goods and Services Tax (GST) in India has significantly transformed the taxation landscape, streamlining the tax structure and unifying the country's indirect taxes. For e-commerce businesses, compliance with GST regulations ...
GST Compliance due dates in India
Goods and Services Tax (GST) is an indirect tax system that has transformed India's taxation landscape. It has replaced multiple indirect taxes levied by the central and state governments, streamlining the taxation process and fostering ease of doing ...
GST Compliance Software in India
GST compliance software refers to specialized digital tools designed to help businesses manage their GST-related activities effectively. These software solutions simplify various tasks such as GST registration, return filing, invoicing, ...
GST Compliance Checklist in India
The Goods and Services Tax (GST) is an indirect tax system that has revolutionized the Indian tax structure. Implemented in July 2017, GST has brought about a significant transformation in the country's taxation landscape. To ensure smooth compliance ...
GST Returns filing in India
Goods and Services Tax (GST) is a unified indirect tax regime implemented in India on July 1, 2017. It replaced multiple indirect taxes, such as excise duty, service tax, and value-added tax (VAT). GST transformed the Indian tax system by ...
GST Registration with DSC Token Online
Digital Signature Certificate A Digital Signature Certificate is a safe digital key issued by the certifying authorities to authenticate the certificate holder’s identity. DSC is like physical certificates, and the difference is DSC is in digital or ...
Digital Signature For GST registration in India
The GST Common Portal will allow businesses to designate employees as authorized signatories, which enables them to sign and file returns on behalf of the business, as well as to make payments online. Any person registered on the Authorized Person ...
How to Generate e way Bill for Unregistered Buyer
E-Way Bill in case of Sale by Unregistered Person In case the movement of goods is done by a person who is not registered under GST, either in his own conveyance or through a hired conveyance or through a transporter, the e-way bill in such a case ...
GST Invoicing Meaning
Invoicing Under GST As a GST registered dealer, you are required to provide GST Invoices, also known as GST bill to your clients. Here, we will be covering the following aspects of GST Invoices: What is a GST Invoice? An invoice or a GST bill is a ...
PARTNERSHIP FIRM GST REGISTRATION ONLINE
PARTNERSHIP FIRM GST REGISTRATION ONLINE GST Registration is necessary for each Firm whose turnover crosses 40 lakhs each year. But there are also some Firms for whom registration is necessary if the business entity did not go above the predefined ...
GST Applicability on Renting Services for Residential Properties
GST on residential property: The goods and services tax (GST) is in attention these days as to whether a salaried individual should pay GST on home rent. According to tax experts, until 17th July 2022, GST was applicable on the rent of a commercial ...
QRMP Scheme under GST
Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme under GST Who is eligible for the QRMP scheme? A registered person who is required to furnish a return in GSTR-3B, and who has an aggregate turnover of up to Rs.5 crore in the ...
What is the Process to File Goods and Service Tax Return?
A GST return is a document containing details of all income/sales and/or expenses/purchases that a GST-registered taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax ...
What is Invoice Reference Number (IRN) in GST
IRN known as Invoice Reference Number is a unique number allotted by Government to tag and identify every valid e-invoice generated in India, being implemented from 1st October 2020. The e-invoicing system has been introduced to create a standard for ...
How to Register on e-Invoicing Portal in GST
e-Invoice Registration on IRP – Who should register, Steps for Registration Under the new e-invoicing system, a taxpayer will have to generate his invoices on his own accounting/ERP system and then upload the same into the IRP i.e the ...
GST Registration For Foreign Companies
All individuals should apply for GST registration for foreign companies as per the GST Act. Goods and Services Tax or GST acts as an indirect tax in India. The tax applies to all the goods and services. The liability for payment of GST generally ...
Gst Registration For Foreign Company
Foreigners and non-resident Indians (NRIs) are drawn to India because of the country’s commercial opportunities. If you’re a non-resident and plan on selling goods or services, whether, for a short or long period of time, you’ll need to register for ...
What is the Limit for getting GST Audit Done?
GSTR-9C is an annual GST reconciliation statement that underwent a major change in 2021. The Form GSTR-9C was earlier applicable to businesses with more than Rs.2 crore as annual turnover in a particular financial year. It required the audit of books ...
Calculation of GST Annual Return Late Fee?
The Goods and Services Tax (GST), introduced in 2017 as a completely new taxation regime, has undergone several amendments since its launch. These amendments have often caused confusion among taxpayers, leading to multiple extensions of deadlines for ...
What are the Gst Annual Return Due Date?
How to File GST Annual Return Implemented in India from 1st July 2017. Over 1.3 crore businesses in India have been registered and issued GST registration under the new GST regime. The entities registered under GST must file annual returns as per ...
What Is Input Tax Credit In GST with Example
One of the fundamental features of GST is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country. 1st February 2022 Budget 2022 updates- 1. ITC cannot be claimed if it is ...
Gst Invoice Format For Service Provider
An invoice is a commercial instrument issued by a seller to a buyer. It identifies both the trading parties, and lists, describes, and quantifies the items sold, shows the date of shipment and mode of transport, prices and discounts, if any, and the ...
How to get Downloadable Gst Invoice Format?
Invoice Format All invoice issued by businesses under GST must contain the following information: Name, address, and also GSTIN of the supplier A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing ...
Foreign Embassy GST Registration Form
UIN stands for Unique Identification Number, a special class of GST registration for foreign diplomatic missions and embassies that are not liable to taxes in the Indian territory. Any amount of tax (direct or indirect) collected from such bodies is ...
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