E-way bill provisions have come into effect from 1st April 2018 for inter-state transactions and will be effective for all intra-state transactions by June 2018.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.
GST, the biggest tax reform of the country, is envisaged to simplify tax management for companies and government equally.
With ICEGate, the user can make E-payments, Track Document status at Customs EDI, Register for IPR, Verify IE Code, etc. making it an essential tool for traders and exporters in India.
GSTIN is an abbreviation for Good and Service Tax Identification Number, which is a 15 digit, unique registration number given to every taxpayer registered under GST.
In India, GST is not applicable to any exports, which makes all the exports in India, Zero Rated Supplies. As per Section 16 of the IGST Act
The revenue department under GST have plans to introduce a faceless scrutiny of refunds to hasten the claim settlement process.
GSTR-1 is a monthly or quarterly return (based on taxpayer’s annual turnover) that should be filed by every registered dealer. The due date for GSTR-1 is based on the taxpayer’s annual turnover.
An E-commerce operator liable to collect tax, he is required to be registered under GST, mandatorily.
simplify tax returns and enable a fairer taxation system, the GST council has put their best foot forward effective April 1, 2019. Now as the fiscal year 2018-19 approaches its end, a new page awaits to be written.
Advance Ruling under GST refers to a decision provided by the authority or the appellate authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or sub-section (1) of section 100 in relation to the supply of goods or services or both being undertaken or proposed to be undertaken by the applicant.
‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.
