GST is a destination-based tax, meaning the tax revenue goes to the state where the goods or services are consumed. The GST council, consisting of the central and state government representatives, decides on the tax rate and any changes to the GST law. GST News Updates month-wise 2024-25...
03/2025 regarding the state-wise issuance of separate notices to the same taxpayer under Sections 73 and 74. Read PDF 16th January 2025 The latest GST notifications related to the 55th Council meeting. CT-Rate, UT-Rate and IT-Rate (1,2,3,4) CT-Rate, UT-Rate and IT-Rate (5,6,7...
In a federal structure, India's determination to much-needed fiscal reforms has been widely applauded at its face value when she relinquished her previ
Every tax payer will be assigned a state-wise PAN based GST tax payer identification number (GSTIN) which will be 15 digit long. The first two digits of GSTIN will represent the state code according to Indian Census of 2011. Each state has a unique two digit code The next 10 digit ...
Therefore, after successfully completing GST registration, the applicant will receive a unique GSTIN. The central government issues a state-wise, 15-digit number to applicants once the registration is completed; subsequently, GST registration has many benefits, such as legal identity. Key Components ...
A STUDY ON COLLECTION, COMPOSITION AND BUSINESS-WISE CONTRIBUTION OF GST IN INDIADr R Ravikumar
What is GST HSN Code in India? GST HSN Code Example and Format HSN Code List with GST Rates: Chapter-Wise Distribution of Commodities. Why is the GST HSN Code Important? Who Should Use the GST HSN Code? How Can Businesses Implement HSN Codes in their Process? Conclusion Frequently Asked...
In filing GSTR-1 and GSTR-3B returns, the State Code categorises transactions by state or union territory. This classification is vital for determining state-wise tax liability and revenue distribution among states, ensuring adherence to destination-based taxation. What is the GST Jurisdiction? GST...
GSTN further issued an advisory on the auto-population of HSN-wise summary into table 12 of GSTR-1. To facilitate business tax reporting, GSTN has included a new feature. This enhancement improves accuracy and efficiency in tax compliance by automating the process of entering the HSN summary ...
The software is developed by SAG Infotech and it is one of the most popular accounting and GST filing software in India. The Gen GST v2.0 provides many features for Billing, Returns Filing & e-waybill activities and it also provides new features of Industry wise bill setup where user can ...