GST
Understanding the Concept of State Codes in GST
What comes to your mind, when you hear, the state codes in GST? That is what we aim to find through this article. We will
December 3, 2023
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GST
Complete GST Registration Via Authentication of Aadhaar for a New User
However, in cases where the officer cannot act in the period mentioned earlier, they would consider the enrolment of the applicant as allocated. After the
December 3, 2023
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GST
Tax Planning Tips for Small Businesses
Taxes are one of the most extensive complexities in India, especially for small businesses, because of a lack of resources and professional guidance. In simple
December 3, 2023
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GST
How do I determine the correct HSN code for a service?
All goods and services subject to taxation in India are classified using an international classification system. Harmonized System of Nomenclature or HSN is the system
December 2, 2023
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GST
How do I determine the correct HSN code for a good?
For a more efficient international trade system, properly classifying goods is crucial. Moreover, this classification not only aids identification but also simplifies the customs process.
December 2, 2023
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GST
What are the requirements for printing HSN codes on tax invoices?
India has been a member of the World Customs Organization since 1971 and has used the 6-digit Harmonized System of Nomenclature codes to classify goods
December 2, 2023
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E-way Bill
50th GST Council Meeting Highlights, Updates, Outcome, and More
Chaired by the Union Finance Minister, Smt. Nirmala Sitharaman, the 50th GST Council meeting was held on 11th July at Vigyan Bhavan, New Delhi. The
December 2, 2023
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GST
49th GST Council Meeting Highlights, Updates, Outcome, and More
The 49th GST Council meeting led by the Honorable Finance Minister of India Nirmala Sitharaman was successfully conducted on 18th February 2023. The finance minister
December 2, 2023
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E-way Bill
48th GST Council Meeting Highlights, Updates, Outcome and More
On December 17th, 2022, the 48th GST Council Meeting took place virtually in the capital, New Delhi. The body overseeing India’s GST system chaired this
December 2, 2023
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E-Invoicing
GSTN Portal Implements Two-Factor Authentication (2FA) for Taxpayers, Enhancing Security Measures Effective December 1, 2023
With effect from December 1st, 2023, the Goods and Services Tax Network (GSTN) portal, has introduced Two-Factor Authentication (2FA) for taxpayers. This 2FA is meant
December 2, 2023
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GST
47th GST Council Meeting Highlights, Updates, Outcome and More
The 47th GST Council meeting was held on the 28th and 29th of June 2022 in Chandigarh. Union Finance Minister Smt. Nirmala Sitharaman led the
December 1, 2023
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GST
46th GST Council Meeting Highlights, Updates, Outcome and More
On 31st December 2021, the 46th GST Council meeting convened under the leadership of Union Finance Minister Nirmala Sitharaman. During this session at Vigyan Bhavan,
December 1, 2023
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GST
45th GST Council Meeting Highlights, Updates, Outcome and More
The 45th GST Council Meeting convened on September 17, 2021, in Lucknow under the leadership of Union Finance Minister Nirmala Sitharaman. This meeting
December 1, 2023
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Due Date and Filing
44th GST Council Meeting Highlights, Updates, Outcome, and More
The 44th GST Council Meeting took place on the 12th of June 2021 in New Delhi, India. Led under the adept guidance of Finance Minister
December 1, 2023
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Due Date and Filing
43rd GST Council Meeting Highlights, Updates, Outcome, and More
On May 28, 2021, the 43rd GST Council meeting took place. After more than half a year, the GST Council convened. The meeting was presided
December 1, 2023
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GST
42nd GST Council Meeting Highlights, Updates, Outcome, and More
The Council conducted the 42nd GST meeting virtually on October 5, 2020, with Smt. Nirmala Sitharaman, the Finance Minister, serving as chairperson. Along with
December 1, 2023
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GST
41st GST Council Meeting Highlights, Updates, Outcome and More
The 41st GST Council Meeting took place on August 27, 2020, virtually via a video call around 4:30 p.m. IST. It was held to
December 1, 2023
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GST
What are the Different Tax Rates That Apply to Different Places of Supply?
Tax is one of the vital sources of income for the government. The amount collected from taxes is used to build helpful and required resources
November 30, 2023
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Inter-state Supplies
What Is An Inter-State Supply, It’s Meaning in GST?
In the case of the Supply of a service or goods, when the provider of the goods or the service is situated in a different
November 30, 2023
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GST
How Does the Place Of Supply Affect Tax Determination?
Under the GST guidelines, when a transaction happens, the location of the person receiving the services or the goods is considered the place of supply.
November 30, 2023
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GST
How Do I Calculate GST on Services?
Calculating Goods and Services Tax (GST) on services is complex and varies according to the kind of service and the applicable GST rate. In contrast
November 30, 2023
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GST
40th GST Council Meeting Highlights, Updates, Outcome and More
The 40th meeting of the Goods and Services Tax (GST) Council, held on June 12, 2020, emerged as a pivotal event amidst the challenges posed
November 30, 2023
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GST
39th GST Council Meeting Highlights, Updates, Outcome, and More
Chaired by the Union Finance Minister, Smt. Nirmala Sitharaman, the 39th GST Council meeting took place on March 14th, 2020. Several crucial issues were discussed
November 30, 2023
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GST
38th GST Council Meeting Highlights, Updates, Outcome, and More
On December 18, 2019, the 38th GST Council Meeting was presided over by Honorable Union Finance Minister Nirmala Sitharaman. The meeting was held amid anticipations
November 30, 2023
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GST
What are the GST Rates for Services?
An essential component of financial literacy is comprehending the intricacies of Goods and Services Tax (GST) rates for services. Various services fall under different tax
November 30, 2023
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GST
Taxability of Personal and Corporate Guarantees Clarified – GST Circular 204/16/2023
Clarification on the taxability of personal guarantee and corporate guarantee in GST – Circular No 204/16/2023-GST dated October 27, 2023 CBIC has recently issued a
November 30, 2023
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GST
37th GST Council Meeting Highlights, Updates, Outcome, and More
On September 20, 2019, the GST Council met in Panaji amidst industry demands for rate reductions. The 37th GST Council meeting, which was chaired by
November 30, 2023
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GST
How Does GST Impact the Retail Sector?
The Goods and Services Tax (GST) in India is a tax system focused on consumption, replacing several previous indirect taxes. It has been a major
November 30, 2023
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GST
How Does GST Impact Manufacturers?
The Goods and Services Tax (GST) since its inception in 2017 has had a vast impact on reshaping the taxation landscape in India, bringing about
November 30, 2023
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GST
How does GST affect e-commerce?
Goods and Services Tax (GST) has orchestrated a transformative shift in the landscape of the e-commerce sector, wielding a substantial influence on how businesses navigate
November 30, 2023
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GST
36th GST Council Meeting Highlights, Updates, Outcome, and More
The 36th GST Council Meeting convened on July 27, 2019, marked a pivotal moment in India’s journey towards redefining its tax structure and promoting sustainable
November 30, 2023
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GST
The benefits of claiming ITC on Capital Goods
Businesses are a part of a dynamic realm. In this world, financial strategies play a key role in leading companies to the road to success.
November 29, 2023
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GST
How Does GST Impact The Service Sector?
In the ever-evolving landscape of taxation, the Goods and Services Tax (GST) stands out as a transformative force, reshaping how various sectors operate. Understanding how
November 27, 2023
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GST
How does GST impact traders?
Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced various indirect taxes in India. Understanding how GST influences the trading sector
November 27, 2023
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GST
Late Fees and Penalties for Non-Compliance in GSTR-10
The objective of introducing GST was to make compliance digital and simpler for businesses. It is mandatory for every business registered under GST to comply
November 27, 2023
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GST
What Are the Benefits of Using HSN Codes?
Stakeholders in international trade, governments, and enterprises can benefit from adopting and using Harmonised System of Nomenclature (HSN) codes. Products can be categorised systematically and
November 27, 2023
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GST
What is the Time Limit For Issuing a Debit or Credit Note?
Revisions and adjustments are often made to transactions in the banking and commerce industries for various reasons, including errors, refunds, discounts, and defective products. Debit
November 27, 2023
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GST
Zomato and Swiggy Face ₹750 Crore GST Notices: Liable to Pay GST from 2017 to 2023
Two of the leading food delivery giants, Zomato and Swiggy, have received Goods and Services Tax (GST) demand notices from the Directorate General of GST
November 27, 2023
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GST
The Future of GST in the Era of Web3
GST has streamlined our tax structure, making it easier to understand and increasing revenue via increased compliance. However, it has not been a simple journey,
November 27, 2023
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GST
GST and the International Taxation of E-commerce
E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the Internet and digital platforms. Over the past two decades,
November 27, 2023
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Accounting
GST and The Rise of The Gig Economy
The gig economy, also known as the on-demand or sharing economy, has been on the rise globally over the past decade. It refers to temporary,
November 27, 2023
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GST
GST and The Use of Artificial Intelligence (AI)
GST is levied on the supply of goods and services at each stage of the production and distribution chain. Credits for GST paid on inputs
November 27, 2023
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GST
GST and the Faceless Assessment Scheme
GST aims to simplify the complex indirect tax structure and create a common national market for goods and services. GST is a unified tax system
November 27, 2023
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GST
What Are the Common Challenges Faced by Retailers Under GST?
The implementation of Goods and Services Tax (GST) in India stands as a pivotal tax reform, designed to streamline the nation’s taxation system. This transformative
November 27, 2023
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GST
The Impact of GST on the Post-COVID Indian Economy
Regarding India, the GST was developed to integrate various direct tax systems of central and state authorities. It aimed at promoting compliance in a market
November 27, 2023
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GST
When Should I Use Exclusive Tax Computation?
Introduction Choosing the proper tax computation method is essential for individuals and organizations. Of the different strategies that are accessible, exclusive tax computation is impressive
November 27, 2023
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GST
The Importance of Accurate Valuation of New Products And Services For GST Purposes
Introduction The supply value under the Goods and Services Tax is levied based on the provisions of u/s 15 CGST Act (2017). It is important
November 26, 2023
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GST
How To Create an Item Master? The Importance of Accurate Item Masters for GST Purposes
Introduction The role of item master is diverse at multiple levels regarding a company’s business strategies and tactics. By providing clean and accurate details of
November 26, 2023
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GST
The Evolution of India’s Tax System and GST
India adopted a new tax code after it gained independence from the United Kingdom in 1947, and since then, it has been making various changes
November 26, 2023
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GST
How To Correctly Value Goods And Services On A Tax Invoice?
Introduction One of the most crucial aspects of financial and accounting practices for businesses is tax invoice valuation. The accurate valuation of goods and services
November 26, 2023
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GST
How GST Has Made It Easier For Businesses To Comply With Tax Laws?
The rollout of GST has brought seismic shifts to corporate India. This umbrella tax has integrated the chaotic web of taxes into one unified structure.
November 26, 2023
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GST
How GST Has Helped Businesses to Reduce Their Tax Burden?
The whole ecosystem has benefited from the introduction of India’s new comprehensive indirect tax regime. It has helped to simplify compliance for taxpayers, cut the
November 26, 2023
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GST
GST and The Global Tax Landscape
The Goods and Services Tax (GST) introduction in India in 2017 represented a major reform of the country’s complex indirect tax system. By replacing multiple
November 26, 2023
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GST
How Has GST Data Been Used to Detect and Prevent Tax Evasion?
Adopting the Goods and Services Tax (GST) is a watershed moment in contemporary taxation, simplifying the indirect tax system and boosting economic openness. One of
November 26, 2023
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GST
How GST Has Helped The Government To Increase Tax Revenue?
By establishing a unified market throughout the nation, the adoption of GST has played a critical role in boosting the ease of doing business. With
November 26, 2023
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GST
The Future of Tax and GST in India
With its foundation in the idea of “one nation, one market, one tax,” the GST tax system is the biggest tax reform in Indian history
November 26, 2023
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GST
GST аnd thе Compеtitivеnеss of thе Indiаn Economy
On July 1, 2017, India implemented the Goods and Services Tax (GST) to streamline the complicated tax structure, remove cascading taxes, extend the revenue base,
November 26, 2023
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GST
GST and the Ease of Doing Business
The GST transformed India’s indirect taxes. A convoluted tax system hindered the country’s business value chain for years. This intricate tax structure started with manufacturing
November 26, 2023
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GST
GST аnd the Promotion of Tаx Compliаnce
The Goods аnd Services Tаx (GST) is а comprehensive аnd uniform indirect tаx system thаt wаs introduced in Indiа on July 1, 2017. It replаced
November 26, 2023
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GST
Amendments and Revisions in GSTR-10
GST transformed India’s indirect tax system by subserving various central and state taxes into a common tax levied across the entire country and fulfilling the
November 25, 2023
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GST
State Goods and Service Tax (SGST)
The implementation of the Goods and Sеrvicеs Tax (GST) in India in 2017 made a significant milеstonе in the country’s tax rеform. GST subsumеd a
November 25, 2023
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Bill of Supply
Tax Invoice vs Bill of Supply: Understanding the Distinction
For business transactions, particularly under the GST (Goods and Services Tax) regime, it’s crucial to distinguish between different types of documents – mainly a Tax
November 25, 2023
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GST
Documents Required for GST Registration for LLP Companies
To ensure a hassle-free and successful registration process, it’s crucial to understand the specific documents you’ll need to submit. This blog is your comprehensive guide
November 25, 2023
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GST
Tax Invoice Format for Goods: Meeting the Compliance Standards
Getting your tax invoices right for goods is more than just paperwork – it’s a crucial part of your financial responsibilities. With tax regulations constantly
November 25, 2023
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E-Invoicing
Tax Invoice for Goods: Key Components and Legal Requirements
Issuing a tax invoice for goods is a key step in your sales process. It’s not just paperwork; it’s about being accurate and legally compliant.
November 25, 2023
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GST
Understanding Joint Development Agreements (JDAs) and GST Implications
Many individuals lack awareness about Joint Development Agreements (JDAs) and the corresponding GST implications. This article aims to elucidate the concept of JDAs and delve
November 25, 2023
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E-Invoicing
E-invoice and ITC Utilization: Maximizing Tax Benefits and Cash Flow Management
When you run a business, effective cash flow management and tax benefits maximization are as crucial as steering a ship through a sea of numbers.
November 24, 2023
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GST
How To Create A GST Invoice For An Online Business?
Whether you’re a startup or a well-established online store, issuing a GST invoice for your online business is not just a legal requirement but also
November 24, 2023
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GST
Why Does Your GST Invoice Have a QR Code?
Ever glanced at your GST invoice and caught sight of a QR code tucked in the corner? You might think it’s just another tech addition,
November 24, 2023
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GST
Why There Is a Need to Select GST Software?
The implementation of Goods and Services Tax (GST) brought about a significant transformation in the tax structure of India, amalgamating multiple taxes into a single
November 24, 2023
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GST
GST Applicability On Cryptocurrency
In the 2022 Budget, the Finance Minister introduced a significant change in the taxation of virtual digital assets. 30% income tax was imposed on gains
November 24, 2023
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GST
Understanding the Impact of GST on Indian Startups: Compliance and Benefits
The introduction of the Goods and Services Tax (GST) in India has significantly changed how new businesses are established and operated. For entrepreneurs embarking on
November 24, 2023
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GST
GST Compliant Private Limited Company Registration
A lot of companies have еithеr joinеd or shiftеd to GST, but some haven’t rеgistеrеd yеt. To bе a part of GST, еvеry businеss must
November 24, 2023
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GST
How to Check GST Payment Status?
The Goods and Sеrvicеs Tax (GST) has significantly transformed thе taxation landscapе in India, strеamlining thе indirеct taxation systеm. Undеr GST, taxpayеrs arе rеquirеd to
November 24, 2023
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GST
How to Find GST Number by PAN of a Company? Importance and Verification of GST Number
The importance of verifying the authenticity of a GST number cannot be overstated. It goes beyond mere compliance with tax regulations; it safeguards against fraud
November 24, 2023
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GST
How To Value New Products And Services For GST Purposes
Goods and Services Task or GST is one comprehensive tax that covers several other taxes and helps reduce financial burden. With the implication of this
November 23, 2023
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GST
How Can I Ensure That I Issue Tax Invoices On Time?
Companies of all sizes must provide correct and timely tax invoices. In addition to guaranteeing compliance with tax laws, prompt invoicing is essential for preserving
November 23, 2023
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GST
What are The Consequences Of Issuing a Tax Invoice Late?
It may seem minor, but sending tax invoices on time dramatically impacts the complicated web of financial transactions and legal compliance. Tax invoices are a
November 23, 2023
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GST
GST Rate for Stationary Products Pen, Paper, Pencil and HSN Code of Stationery Items
At the 47th GST Council meeting, changes were made to the GST rates for stationery items, which include products like pencil sharpeners, paper knives, and
November 23, 2023
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GST
GST on Joint Development Agreement (JDA)
The Joint Development Agreements concern two or more parties developing a property. The tax implications of these agreements can be complex, and it’s essential to
November 23, 2023
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GST
How To Check GST Filing Return Status?
Tracking the status of your GST return filing is a vital aspect of maintaining tax compliance under the Goods and Services Tax (GST) system. Filing
November 23, 2023
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GST
GST Audit: When and How GST Audits Are Conducted and What Businesses Need To Prepare
Introduction The GST audit process for taxpayers with an annual turnover exceeding 2 crores is a crucial aspect of GST compliance. It involves a detailed
November 23, 2023
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GST
Is GST Registration Mandatory for Startups?
The Goods and Services Tax (GST) has been a significant tax reform in India, aiming to streamline and simplify the taxation system. For startups, understanding
November 23, 2023
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GST
What Documents Are Required for GST Registration for Sole Proprietorship?
To ensure a hassle-free and successful registration process, it’s crucial to understand the specific documents you’ll need to submit. This blog is your comprehensive guide
November 21, 2023
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GST
Overview of Union Territory Goods & Services Tax (UTGST)
The Goods and Sеrvicеs Tax (GST) is a comprеhеnsivе indirеct tax rеform that was introduced in India on July 1, 2017, to rеplacе a myriad
November 21, 2023
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GST
GST on Freelancers – Applicability & Rates
Whеthеr an individual is running a largе corporation or a small to mеdium-sizеd company, thе influеncе of thе Goods and Sеrvicеs Tax (GST) еxtеnds across
November 21, 2023
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GST
Is GST Applicable to Legal Consultancy Fees in India?
Legal consultancy fees are a crucial component of legal services, and understanding the GST implications on such fees is vital. Goods and Service Tax applies
November 21, 2023
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GST
GST Rate on Wood and Wooden Furniture
The GST Council initially announced tax rates for various goods and services, including furniture, on May 18, 2017. These rates have undergone subsequent modifications. The
November 21, 2023
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GST
GST Interstate Vs Intrastate Supply: What Is the Difference
The Goods and Sеrvicеs Tax (GST) is a significant rеform in India’s indirеct taxation system that came into еffеct on July 1, 2017. It rеplacеd
November 21, 2023
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GST
What Is the Difference Between ITR Filing and GST Filing?
Being a taxpayer in India, understanding the entire tax system first is crucial to file direct and indirect taxes. Income Tax Return filling (ITR) and
November 21, 2023
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GST
How to Calculate GST on Property Purchase?
GST, or Goods and Services Tax, has become a crucial part of the taxation landscape in India after its implementation in 2017. When it comes
November 21, 2023
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GST
Understanding the provisions of TCS (Tax Collection at Source) under GSTR-8
What is TCS under GST Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by
November 21, 2023
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GST
Payment of tax liability and input tax credit (ITC) in GSTR-10
GSTR-10 is a crucial document for taxpayers who are required to cancel or surrender their GST registration. It is also called a final return and
November 21, 2023
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GST
Why Was GST Introduced in India?
In a country known for its complex and multi-layered tax system, implementing GST was a significant stride toward simplification and uniformity. Before the implementation of
November 20, 2023
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GST
Brief of GST on Transportation of Goods
The Goods and Sеrvicеs Tax (GST) has significantly impactеd the way we transport goods in India. It’s a tax systеm introduced to simplify and strеamlinе
November 20, 2023
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GST
GST Litigation and Dispute Resolution
GST, the Goods and Services Tax in India, has been in place for over five years, but the landscape of GST litigation is still evolving.
November 20, 2023
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GST
Understanding Reverse Charge Mechanism (RCM) under GST
In the realm of taxation, the Reverse Charge Mechanism (RCM) is a concept that can significantly impact the way goods and services are taxed. This
November 20, 2023
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GST
Gst Enrollment For Proprietorship Firm
In the fast-paced business arena, keeping up with the times and ensuring compliance with the ever-evolving regulations is necessary. Goods and Services Tax (GST) registration
November 20, 2023
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GST
Do Lawyers Need GST Registration?
The implementation of thе Goods and Sеrvicеs Tax (GST) in many countriеs has brought about a significant shift in thе taxation landscapе. It has also
November 20, 2023
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GST
GST for the Sale of Live Plants and Trees
Thе Goods and Sеrvicеs Tax (GST) has significantly strеamlinеd India’s tax structurе, rеplacing a wеb of indirеct taxеs and crеating a unifiеd taxation systеm. Onе
November 20, 2023
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