GST is one of the most crucial tax reforms in India which has been long waiting. It was hypothetical to be implemented from April 2010, but due to political issues and contradictory interests of various stakeholders it was still awaiting The Good and services tax (GST) is the prime and ...
New Advisory on Filing GSTR-3B and Addressing Duplicate Entries in GSTR-2B. View more HSN Codes – Since the successful implementation of Phase-I and Phase-II, Phase-III, affecting Table 12 of GSTR-1 and 1A, will be implemented starting from the return period of February 2025. View More...
April 9, 2024SAG InfotechInformative GST Articles, Taxes in India 9 Minutes Read After a very long GST Debate with enormous talks going again and again in parliament, Lok Sabha, Rajya Sabha. The much-awaited GST Taxation has been implemented in India from 1st July 2017. Earlier, Indian ...
GST was implemented in India on July 1, 2017. The implementation was not without its challenges, and many businesses faced teething problems in the initial months. However, the government made several changes and revisions to the GST rules to address these issues. Impact of GST Since its implem...
unified tax system implemented in India to replace several taxes, such as VAT, excise duty, and service tax. There are four major GST rates in 2024: 5%, 12%, 18%, and 28%, which apply to various services and goods. VAT rates differ by state, resulting in a more fragmented tax ...
Phase-wise changes have been implemented in Table 12 of GSTR-1 and GSTR-1A on the GST portal. A new advisory has been released for Table 3.2 of Form GSTR-3B to capture inter-state supplies made to unregistered persons, composition taxpayers, and UIN holders. Taxpayers in Assam can now ...
We have also published a new article on the latest changes announced and implemented by GSTN on the introduction of Table 14 and 15 in GSTR 1. These tables are designed to simplify e-commerce transaction reporting, eliminate discrepancies, and make compliance easier for both suppliers and e-co...
the goods being transported. It is mandatory for inter-state movement of goods worth more than ₹50,000 and intra-state movement of goods in some states. This system was launched on 1st April 2018 for inter-state movement and was gradually implemented for intra-state movement by June 2018....
For certain businesses in India, obtaining a GST registration is compulsory. Failure of businesses to obtain GST registration will result in heavy penalties and liability under the concerned law. The GST system was implemented to replace central and state-level taxes such as service tax, excise dut...
Define all the business models or contractual scenarios after the discussions with the management that can be implemented. Advise On the Provisions under the GST Laws To ascertain the impact of GST on the prices of products and services because of additional tax costs or credits. ...