1. GST Registration Every business under GST will need to declare the goods and services type that they are dealing with. Thus, it is essential to mention the correct HSN/SAC code at the time of registration. 2. GST Rate For goods and services, if the taxpayer is aware of HSN/SAC code...
The period can be extended by the Commissioner GST by another 30 days. A statement of such in-voices have to be furnished. ISD can also distribute such credit. (g) Tax paid under the existing law under composition scheme Those taxpayers who paid tax at fixed rate or fixed amount in lieu...
Input tax includes CGST, SGST, IGST, UTGST, and taxes under the reverse charge mechanism. It excludes taxes paid under the composition scheme. 3. Can we claim ITC on hotel stays? Yes, ITC can be claimedGST on hotelservices if the hotel charges SGST and CGST, and it’s located in the...
Features of export under GST scheme The goods and services can be supplied to outside India either on payment of IGST (Integrated Goods and Services Tax), claimable as refund after the goods have been exported, or under Bond or Letter of Undertaking (LUT) without payment of IGST. For goods...
08/2024 – Integrated Tax (Rate) on October 8, 2024. Read PDF 30th January 2025 The GSTN department will soon enable the composition scheme for the financial year 2025-26, allowing taxpayers to file Form CMP-02 from February 4 to March 31, 2025. 28th January 2025 GSTN’s new advisory...
An amnesty scheme has been started by the Maharashtra government for interest and penalty waivers for the pending liabilities under GST between FY 2017 and 2020, 2025, Deputy Chief Minister Ajit Pawar announced in the state legislature. March 31 is the d
Who has to pay GST? GST Composition Levy Various status of provisional ID under GST in India Comments Pradeep Sengottuvel:On 02 April 2015 Dear Sir, Is a merchant exporter who is getting benefits of duty drawback eligible for rewards from MEIS? can one avail both duty drawback and MEIS...
Quarterly Return Monthly Payment or QRMP scheme under Goods and Services Tax (GST) as it is called is a recently introduced scheme by the Government in its initiative to simplify compliance for taxpayers. The Central Board of Indirect Taxes (CBIC) issued GST Notification 82/2020, GST Notificatio...
Discussing Deduction in respect of maintenance including medical treatment of dependent that is a person with disability [Section 80DD] and Deduction in respect of medical treatment, etc. (Section 80DDB).
GSTIndiaVATInput CreditRefundIn line with the neutrality principle, India's new GST law provides for refund of excess input VAT when input supplies are taxed at a higher rate than output suSocial Science Electronic Publishing