How GST Works in India
How GST Works in India GST is a type of value added tax and a proposed comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will...
View ArticleGST Tax Deduction – Rules and Regulations
GST Tax Deduction – Rules and Regulations TDS or Tax Deduction at Source is a means of indirect tax collection, wherein a tax “deductor” is made responsible for the collection and deposit of tax while...
View ArticleGST Registration Extension
GST Registration Extension for Existing Taxpayers The Goods and Services tax (GST) network has extended the date of GST registration or migration of existing taxpayers till the end of April, 2017....
View ArticleGST Advantages and Disadvantages
GST Advantages and Disadvantages The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national...
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Solved: GST Provisional ID Not Generated or Not Working
Solved: GST Provisional ID Not Generated or Not Working An existing taxpayer who is already registered under Central Excise, Service Tax, VAT, Entry Tax, Luxury Tax or Entertainment Tax is migrated to...
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Guide to GSTR-1 Filing
Guide to GSTR-1 Filing All persons required to be registered under GST and having GST registration must file GSTR-1 on the 10th of each month. GSTR-1 or return of outward supply would contain item wise...
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Online GST Registration Guide
Online GST Registration Guide All persons who are required to collect GST or a person required to collect Tax at Source or a person providing online information and data base access or retrieval...
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GST Composition Levy – Eligibility & Application Procedure
GST Composition Levy – Eligibility & Application Procedure Small businesses are the backbone of the Indian economy and there are an estimated 55 million Micro, Small and Medium Enterprises...
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GST Invoice Format and Rules
GST Invoice Format and Rules The rollout of GST in 2017 will necessitate changes to the invoice format for millions of businesses. The format for issuing GST invoice and the related rules are laid out...
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Making GST Payment – Electronic Cash Ledger
Making GST Payment – Electronic Cash Ledger The GST platform created by the Government has three ledgers for managing GST payment, liability, input credit, interest due, penalty due, late fee or any...
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Calculating GST Payment Due – Electronic Liability Register
Calculating GST Payment Due – Electronic Liability Register The GST platform in India uses a system of three ledgers, namely Electronic Liability Register, Electronic Credit Ledger and Electronic Cash...
View ArticleGST Exemption List – For Services
GST Exemption List – For Services In the GST Council meeting held on 19th May, 2017, the GST rates and GST exemption list for services was decided. The GST Council approved five broad GST rate...
View ArticleProcedure for Issuing Receipt under GST
Procedure for Issuing Receipt under GST A receipt is a written acknowledgment of having received a specified amount of money or goods. However, the term issuing receipt mostly pertains to issuing a...
View ArticleHSN Code for GST- Harmonized System Nomenclature
HSN Code GST – Harmonized System Nomenclature HSN code or Harmonized System Nomenclature code number is an internationally adopted commodity description and coding system developed by the World Customs...
View ArticleRevised Tax Invoice under GST
Revised Tax Invoice under GST A tax invoice issued by a supplier of goods or services under GST must conform to the rules laid out for issuing an invoice. After an invoice is issued, there might be a...
View ArticleRecords to be Maintained under GST
Records to be Maintained under GST GST Laws in India mandate that all registered persons under GST maintain records and accounts in a specified manner. In this article, we look at the list of records...
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Guide to CGST, SGST and IGST
Guide to CGST, SGST and IGST GST is a destination tax, meaning the tax base will shift from origin to consumption. Hence, the imports or end-use will be liable to tax and exports or production will be...
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GST Input Tax Credit Guide
GST Input Tax Credit Guide GST is an indirect tax levied on goods and services based on the principle of value addition. Hence, the levy of tax is based on the value added at each stage of the supply...
View ArticleIGST Exemption List
IGST Exemption List In the GST Council Meeting held on 18th and 19th May, 2017, the IGST exemption list was decided. Under GST regime Custom duty would prevail & CVD, SAD, CESS etc. shall be...
View ArticleTaxable Person under GST – Who Needs GST Registration?
Taxable Person under GST Taxable person under GST is anyone who is registered under GST or required to be registered under GST. Various criteria’s like turnover, business activity or transaction have...
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