With the Finance Minister resolute on introducing GST on 1st July 2017, businesses are left with no choice but to get ready for the most awaited tax reform.
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Application for Registration for TCS collector is to be filed in REG-07. Registration certificate to be issued in REG-06.
Supply chain is the very foundation of product delivery comprising of individuals, technology, activities and resources involved in the movement of items from manufacturing till delivery. Some typical links in
Compensation Cess under GST is levied by GST - Compensation to States Act 2017. Read all about the compensation cess under GST here
Australia is said to be the first country to introduce an anti-profiteering provision during GST introduction in the year 2000, followed by Malaysia in the year 2015.
Any business in the supply of goods or services with a specific turnover needs to register under GST. Know if Salaried employees, small businesses, and Individuals need to register under GST.
As per GST law, for every supply of taxable goods or services, a registered supplier is required to provide a tax invoice to the Purchaser.
GST is structured as One-multistage based taxation system, it is categorized into CGST, SGST or IGST, based on whether the transaction is Intra-State or Inter-State.
The GST Regime mandates every person/business with an annual turnover of Rs. 40 lakhs or more, to register as a normal taxable person.
If you are someone who wants to start selling through e-commerce platforms and wondering if you need to register for GST then read this article it talks aboutGST Registration Requirement For E-commerce Vendors
Inverted Tax Structure in the GST regime | Inverted Tax Structure is a condition where the rate of tax on inputs purchased is more than the rate of tax on outward supplies (finished goods).
To ease the compliance burden, the system has assigned quarterly frequency to small taxpayers automatically. This is why IFF was introduced
