GST laws mandate specific timelines for issuing invoices, revised bills,debit notes, andcredit notesbased on the type of supply. For goods, a GST tax invoice must be issued when the value exceeds ₹200. However, GST-registered suppliers must issue invoices upon customer request, regardless of ...
In some countries, this type of tax is also referred to as Value-Added Tax (VAT), even though there are subtle differences between the two types of taxes. GST Versus VAT Even though these two taxes seem alike, they are different. While VAT is a consumption tax that is levied on ...
There are three different types of Good and Service Taxes (GST):-1. SGST - Good and Service Tax (GST) by States Government.2. CGST - Good and Service Tax (GST) by Central Government.3. IGST - Good and Service Tax (GST) on International Goods.These all are nothing but Central excise...
There are many types of GST returns filed by the taxpayers in a year. Each GST return form has a particular due date before which we have to file GST return to the tax department. It is necessary for a taxpayer to go for GST return filing before the due date. List of all returns to...
What is the cost of obtaining GSTIN ? GSTIN and registering for GST are absolutely free of cost with no charges. How is GSTIN Different From GSTN? GSTIN and GSTN are two terms that are often confused by many people. However, they are very different from each other. ...
CGST, SGST, IGST & UTGST are the 4 components or types of GST with a concept of one tax one nation. Read the details of CGST, SGST, IGST & UTGST.
Negative impact of GST The GST rate of 28% is considered high when compared with other countries. Lower GST on gold and jewellery which should be kept high. Still, many items like electricity, real estate, alcohol, petrol are out of the GST ambit. ...
Types of indirect taxes Indirect taxes have different names in different countries or regions. The amount of tax charged depends on the purchase price, as tax levied is a percentage of the cost to purchase. Here are a few examples of indirect taxes: ...
Types of GST Returns (based on the New GST Law) There are 3 categories that broadly classify the GST returns. Here is a comprehensive list of the types of GST Returns: Regular Businesses Easy GST Filing with Deskera Try for Free Today ...
When it is added: VAT is added at every step of the supply chain while sales taxes are added at the time of the final sale. Collection: The value-added tax is collected at multiple points during the production of a finished product. Sales taxes, on the other hand, are only added at ...