The Central Board of Indirect Taxes and Customs ( CBIC ), vide circular no. 234/28/2024-GST on 11th October 2024, has explained that an 18% Goods and Services Tax ( GST ) applies to affiliation services furnished via universities to colleges. These affil
The quality of the human resource of a nation depends on how efficient is its education system. It is very important to note that like all other services, education itself is an economic activity. Hence, educational institutions are not exempt from GST. There are clearly defined GST provisions...
Furthermore, the capacity-building efforts by the CBIC are yet to show up the outcomes which may be public after the implementation of the ambitious SAKSHAM system. The performance analysis explicitly exhibited the superiority of the GST regime over the past VAT regime on several dimensions. The ...
Under GST, the Central (CGST) and state government (SGST) share the authority to levy and collect taxes on goods and services. In the case of Inter-state transactions, Integrated GST (IGST) is applicable. Essential Features of GST Multiple Tax Levels: India’s GST system has multiple tax ...
CBIC has notified that GST e-invoicing on the common portal is mandatory for all the large scale taxpayers having GST registration.
GSTIN stands for Goods and Services Tax Identification Number. Before the implementation of GST, the Central Board of Indirect taxes and Custom (CBIC) provided a unique TIN number to the taxpayer. In the same way, the CBIC rolled out the GSTIN number for the identification of the taxpayer ...
“CBIC shared the latest update about upcoming functionalities for the taxpayers on the GST official portal in July 2021 month.” Read PDFIssuance of Order in form GST REG -19When the proper officer cancels the GST registration If the proper officer believes that the GST registration of the ...
keep on changing their websites or use dark web based platforms or VPNs. The agency asked for a “multi-pronged approach” that involved the creation of an interdepartmental committee including CBIC, CBDT, MCA, MIB, MeitY, RBI and the Department of Consumer Affairs to ensure regulatory compli...
Impact of GST on Indian transport industry Goods and Services Tax is one of the burning issues which have become a matter of discussion these days. Everyone is trying to understand the impact of GST on different industries. In this article, we are going to focus on the im...
Services are found to be deficient 13. When can a person issue Debit Note? A taxpayer can issue a debit note when- Original tax invoice has been issued and taxable value on the invoice is less than the actual taxable value. Original tax invoice has been issued and tax charged in the ...