Export of goods or services are considered zero-rated supplies, meaning they are exempt from taxation at either the input or final product stage. This indicates that no goods and services cess will be added to the sale price of goods and services intended for export. Under the Indian GST law...
Under GST, the existing system of levy of tax on manufacture, provision of taxable services, and sale of goods will be replaced by the concept of ‘Supply’. Thus, it is of extreme importance, to understand the “place of supply” meaning in determining the right charge of tax on supply...
Read also: What is Ebitda meaning? FAQs about E-Way Bill 1) Can I add two invoices in one E-Way bill? No, generating a single E-Way bill for two invoices is impossible. However, you can use a consolidated E-Way bill to combine two or more individual E-Way bills. 2) Should I...
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...
for more than 9 registrations, from A-Z. For example, when a business entity gets a GST no. for its 3rd business vertical in the state, this digit will be 3, whereas when a business entity gets GST registration no. for its 13th business vertical in the state, this digit will be D....
When purchasing ready-made gold jewellery, consumers pay a3% GST on the total value of the jewellery. This includes both the price of the gold and the making charges. It’s important to note that this is considered acomposite supply, meaning the gold and the craftsmanship are treated as a...
They have the given logic behind it that GST will promote more exports; increase in exports will generate more employment opportunities and all this boost the overall growth of the country. The present research work has been done with the objectives to understand the meaning of GST, to discuss...
To me, the adjudication process under GST, apart from the prolonged non-constitution of the GST Appellate Tribunal (GSTAT), remains one of the most prominent yet disappointing aspects of the tax regime. Navigating the Complexities of Outward Secondment Arrangements in India: Tax and GST Implications...
In this blog, we’ll understand what is the meaning of GST, advantages and disadvantages of GST to help you understand how it simplifies tax management, and improves compliance. By the end, you'll know how the advantages of GST can benefit your business and also know what are the disadvant...
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