Additionally, state-wise collections revealed Maharashtra as the leader, with Karnataka and Gujarat following closely. Despite these impressive figures, GST revenue as a percentage of GDP remains below pre-GST levels, highlighting ongoing challenges and areas for improvement in the tax system. These up...
For example, consider the goods originate in West Bengal and are sold to consumers in Gujarat. As GST is collected from the point of consumption, the entire revenue of the tax will go to Gujarat and not Bengal. GST is levied on the value additions that are added during each stage of the...
Rolled out nationwide on July 1, 2017, GST In India follows a dual model where both the State and the Central government levy tax on goods and services. In the GST Regime, businesses whose turnover exceed Rs. 40 lakhs (Rs 10 lakhs for NE and hill states) are required to register as ...
the 13th digit of the GSTIN would be 1. If the same entity registers a second business vertical in the same State, the 13th digit for this second entity would be 2. Consequently, a legal entity can register up to 35 business verticals within a State, each assigned a unique 13th digit....
GST Return Under the Composition Scheme Difference Between GSTR-2A and GSTR-2B E-Way Bill Generation on Mobile GST on Labour Charges: HSN Code for Labour Charges GST Sahaj Return See all the news Click here See all Blogs on Return Filings in India...
State Name Alpha Code GST State Code 1. Andaman and Nicobar Islands AN 35 2. Andhra Pradesh AP 37 3. Arunachal Pradesh AR 12 4. Assam AS 18 5. Bihar BR 10 6. Chandigarh CH 4 7. Chattisgarh CG 22 8. Dadra and Nagar Haveli DN 26 9. Daman and Diu DD 25 10. Delhi DL 7 11....
2.Provide Business Information Provide the required documents and fill in essential business details such as business name, SEZ unit, Principal place of business, additional places, mobile number, email address, state, PAN card details for initiating the registration process. 3.Filing for GST Registr...
Goods not liable for seizure and penalty thereof when designated route not taken during transportation Bimal Jain20 November 2024 at 09:30 The Hon'ble Allahabad High Court (Lucknow Bench) in the case of Exide Industries Limited v. Addl. Commissioner Grade-II (Appeal)-1, State Tax, Mainpuri...
For instance, If an services company sells in Gujarat and Maharashtra, he has to apply for separate GST registration in Gujarat and Maharashtra. Can I get multiple GST registrations within a state? Any business can apply for any number of GST registrations within a state. The procedure of ...
IGST ensures that taxes paid on inter-state supplies are credited to the importing state while the exporting state collects the tax. For instance, when goods are sold from Maharashtra to Gujarat, IGST is applied, and the credit is transferred to Gujarat, where the goods are received and consum...