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 ...
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 commerce shall be levied and collected by the Indian Government...
Below, we’ll break down the roles of different participants in the supply chain and the application of GST in both intra-state and inter-state transactions. 1. Manufacturer’s Perspective A manufacturer must pay GST on the raw materials they purchase and the value they add to the product. ...
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. ...
GSTR1 Tax return for outward supplies made (contains the details of interstate as well as intrastate B2B and B2C sales including purchases under reverse charge and inter state stock transfers made during the tax period). If Form GSTR-1 is filed late (post the due date), the late fee will...
GSTINof the customer Invoice Number Invoice Type Place of supply GST rate Taxable value Amount of CGST, SGST, IGST cess applicable. Intra-state and inter-state sales - Consolidated HSN wise summary details Summary of requisite documents i.e. Debit and Credit Note. ...
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Every business that operates in a state or union territory is assigned with a unique Goods and Services Tax Identification Number, which is generally known as GSTIN.
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-...
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-...