In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. Get 7-days free trial I have read and accepted theT&C ...
The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multistage, destination-based tax that is levied on every value addition. In simple words, Goods and Service ...
The multi-layered and complex tax structure of the country has come to an end with the introduction of GST. The new taxation system gives a clear idea to the business owners about the rate of applicable tax and to whom and where they are paying the tax. In simple words, the businesses ...
In simple words all the goods and services in the market are subject to GST. All the value added systems in India fall under multistage goods and service tax law. This is completely dependent on the state and the type of trade. The whole nation is under GST. Each and every point of ...
In simple words, it is the submission of business transaction invoices by the authenticated users that apply for the invoicing process. The person will be issued an identification number for every invoice by the Invoice Registration Portal.
In simple words, E-commerce operator needs to collect GST when it supplies taxable goods/services on behalf of other suppliers. Supplies made by the e-com operator on its own account are not subject to TCS requirements. 3. What are the requirements for registration as a TCS collector?
In simple terms, Goods and Service Tax (GST) is an indirect tax levied on the number of goods and services. This law has followed many indirect tax laws that previously endured in India. Indirect tax is not required directly on the interest of individuals. Rather, it is inflicted on goods...
Hence, the TDS is deductable when only a contract/single purchase order exceeds Rs.2,50,000/-. In simple words, no TDS will be attracted of the value for the supply of goods and services or both, under the contract is up to Rs.2,50,000/-. Below is the explanation with an example...
GST works in a very simple process as it is an indirect tax of a nation, that combines several indirect taxes including VAT tax, services tax, central Excise tax, customs tax etc. It means that by removing other indirect taxes the government is collecting a single tax on the supply of go...
In other words, you are exporting zero rated supply as in case of AdSense publishers and therefore out of GST regime. So, please go through the discussions made for Google AdSense Publishers in part A above for more clarity. Penalty for No Registration: If you as a blogger liable to be ...