GST

Gst registration on voluntary basis

Gst registration on voluntary basis

You may register for GST freely under Goods and Services Tax regulations, even if there is no legislative necessity to do so. Regardless of whether or not they meet the minimum threshold requirements, any firm that offers goods or services can voluntarily register for GST. If you want to learn more about GST Registration on … Read more

GST on Consultancy Services in India

GST on Consultancy Services in India

Since the government made the announcement of GST rates vehemently, there has been much confusion in the market. There is much confusion regarding GST registration, GST billing, and GST return filing. It’s important to register your counseling or consultancy business under the GST. Therefore, you must understand the GST structure applicable to this concept and … Read more

GST on Stationery items in India

GST on Stationery items in India

The GST replaces the old state and national indirect tax structure. The GST is charged on a broad variety of goods, such as food, drink, apparel, technology, and accessories. Many stationary goods, such as paper, pens, and pencils, are also subject to the goods and services tax. This article will discuss the GST on Stationery … Read more

GST registration on death of proprietor

GST registration on death of proprietor

The transfer or succession of a firm is a common occurrence in business, and numerous tax regulations have addressed this issue as well. Transfer or succession of a firm may occur in a number of situations, including merger, demerger, amalgamation, or the death of the owner, among others. The provisions of the GST in the … Read more

GST Portal to Open from 1st October for filing of Transitional Credit: GSTN

GST Portal to Open from 1st October for filing of Transitional Credit GSTN

As of October 1, 2022, taxpayers will be able to report late transitional credits, according to an announcement from the Goods and Services Tax Network (GSTN). This news arrives a month after the Hon’ble Supreme Court ordered the GST system to reopen on September 1, 2022, to facilitate the submission of transitional credits from the … Read more

Rail ticket cancellation for AC, 1st Class coaches to attract 5% GST

Rail ticket cancellation for AC, 1st Class coaches to attract 5% GST

As per the latest notification, you have to pay more for canceling the confirmed rail tickets for AC and first class. Following a circular from the Ministry of Finance on August 3, cancellation fees for confirmed railway tickets would also be subject to GST. Let us understand the concept of Rail ticket cancellation for AC, … Read more

EY recommends changes in GST

EY recommends changes in GST

The EY GST book makes recommendations for policy changes based on four criteria: increased tax income, improved dispute resolution, empowered institutions, and a more convenient environment where you can conduct business. According to a new book on Goods and Services Tax (GST) published by EY, which offered sector-specific recommendations on indirect tax changes, expanding the … Read more

Is fssai license required for merchant exporter?

Is fssai license required for merchant exporter

If you are into export business and exporting food products, you must know about FSSAI License for Merchant Exporter. Many entrepreneurs wonder if a fssai license is required for merchant exporters? This article will provide you with the answer. What is FSSAI and FSSAI Registration? FSSAI stands for Food Safety and Standards Authority of India. … Read more

Commercial credit note in GST- is it a service rendered by recipient?

Commercial credit note in GST- is it a service rendered by recipient

There may be mistakes when doing different kinds of transactions. When these discrepancies arise, it’s necessary to use debit or credit notes, respectively, to reconcile them. Each party involved in a transaction issues a debit note or credit note when goods  are returned or when an adjustment is made to an invoice. Commercial Credit notes … Read more

GST and cess on cars in India

GST and cess on cars in India

In India, most purchases, including automobiles or cars, are subject to the Goods and Services Tax (GST). India’s Goods and Services Tax (GST) on automobiles is charged at a variety of different rates, including 5%, 12%, 18%, and 28%. Vehicle sales are subject to both GST and another tax, a compensation cess of up to … Read more