The GST act governs Integrated Goods and Services Tax levies. Under the GST regime, an Integrated GST (IGST) is levied and collected by the Centre on Inter-State supply of goods and services. Under Article 269A of the Constitution, the GST on supplies in the course of interstate trade or...
Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on inter-State supply of goods and services. Under Article 269A of the Constitution, the GST on supplies in the course of interState trade or commerce shall be levied and collected by the Government ...
SGST / UTGST- State GST / Union Territory GST IGST - Integrated GST What is CGST? CGST rate or Central GST rate is levied on the intrastate supply of goods and services. The proceeds of which will be attributable to the Centre, as per theCGST Act. ...
The first and the most importantbenefit of GST return filingis removal of cascading effect. Introduction of GST helps in removing the cascading effect of tax on tax for other taxes such as service tax, excise duty, customs duty and state level value added tax. Start-Up Benefits In the previ...
Blog/ GST Copy to clipboardCopy Link Disclaimer : The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of fin...
During an inter-state transfer of handicraft goods by a supplier who has been exempted from GST registration. How is an e-way bill generated? The bill can be issued from the GSTN.Learn how to create an e-way bill through the GSTN. Once it’s generated, the supplier, the recipient, ...
There’s also less possibility of surveys/audits by the tax authorities since the information they require is already available at a transaction level. Improves business efficiency Industry 4.0 has brought rapid changes to technology, industries and societal patterns thanks to increased inter-...
1. What is the difference between tax evasion and tax avoidance? 2. How would you empirically distinguish the two phenomena? 1. Why would public service organizations need to measure income? 2. What are the possible types of interfund transactions? Why is...
GST is a destination-based tax. All over India, the adjustment of IGST for inter-state trade at the central and various states level will be extremely complex due to the large volume of transactions. A rapid settlement mechanism amongst the Centre and States will only be possible when there ...
‘Permanent establishment’ is an important international tax concept, meaning a fixed place of business in another country or state, resulting in an income tax