CGST is the final category of GST. It’s a tax levied on intrastate supplies of goods and services by the central government, and it is governed by the CGST Act. Since SGST falls under intrastate supply, it is levied in the same way, but it is now regulated by the state government. ...
Type 8: Tax paid on an intrastate supply later held as interstate supply and vice versa The method is similar to that of Type 3 refunds, as previously explained. Use Statement 6, and the refund amount will be auto-filled from the uploaded statement. Type 9: Refund by the supplier of dee...
Learn what LTL freight shipping is, how it works, and how ecommerce companies can optimize their freight shipments all over the world.
3. Nature of Supply: As we discussed earlier, GST is levied on the supply of goods and services. So the nature of supply plays a significant role in ascertaining which form of GST is charged on the transaction. This means that on Intrastate supply CGST (Central Goods and Services Tax) an...
Goods coveredDuties imposed on the import of goods are known as customs duty. Duty on goods manufactured domestically and part of an intrastate transaction is known as excise duty.Tariffs are imposed on goods imported or exported by the manufactures of a country to an international country. ...
A bill of lading (BOL) is a document that demonstrates the transfer of custody from shipper to carriers along the supply chain. In many cases, it is required as proof that specific goods were delivered to the carrier or transferred between carriers. ...
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...
How is business law helpful for corporate society? What two principles are most relevant to jurisdictional issues in cyberspace? options: a. Intrastate and Effects b. Sliding Scale and Effects c. Territoriality and Interstate d. None of the above What are common reasons that governm...
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. What is SGST? SGSTrate or State GST rate is levied on the intrastate supply of goods and services. The ...
Movement of goods without generating the e-way bill is an offence and is subject to levy a penalty of Rs. 10,000 or evading of the tax sought (whichever is greater). Whether transportation is interstate or intrastate(*), the transporter should have a physical or digital copy of the e-wa...