Taxation
GST on Fertilizer: Understanding GST Return Forms and Compliance in India
Introduction The Goods and Services Tax (GST) on fertilizer in India is a unified taxation system that plays a significant role in the agricultural and fertilizer industry. Before GST, the taxation system was complex, involving multiple central and state taxes, leading to inefficiencies and price variations across different states. The introduction of GST has streamlined […]
Swati Raghuwanshi
February 17, 2025 at 12:04 PM
How to Generate a Restaurant GST Bill
Introduction GST (Goods and Services Tax) has significantly impacted the restaurant industry in India, transforming the way restaurants handle taxation. Whether you own a small café, a fast food joint, or a fine dining restaurant, understanding GST billing is crucial for compliance and transparency. A restaurant GST bill includes multiple tax components, and incorrect invoicing […]
Manikuntala
February 17, 2025 at 12:01 PM
GST on Commercial Property Rent Explained
Introduction Renting out commercial properties in India has become an essential source of income for many property owners. However, with the introduction of the Goods and Services Tax (GST) regime, property owners and tenants now face an entirely new set of tax obligations that need to be carefully navigated. GST, implemented to simplify the tax […]
Manikuntala
February 17, 2025 at 11:59 AM
What is TCS Under GST?
Introduction The Goods and Services Tax (GST) introduced in India brought numerous reforms to the taxation system, one of which is TCS under GST. Tax Collected at Source (TCS) is a vital mechanism aimed at ensuring transparency in e-commerce transactions and simplifying tax administration for both operators and sellers. This provision is particularly significant for […]
Manikuntala
February 17, 2025 at 11:55 AM
Different Types of Supply Under GST: A Complete Guide
Introduction The Goods and Services Tax (GST) is a comprehensive indirect tax that applies to various types of supplies of goods and services. Understanding the types of supply under GST is essential for businesses to ensure accurate tax compliance and prevent legal disputes. The classification of GST supply categories determines: In this blog, we will […]
Varnika Gupta
February 17, 2025 at 11:44 AM
Anti-Profiteering Rules Under GST: Compliance, Penalties & Mechanism
Introduction The introduction of the Goods and Services Tax (GST) in India was a landmark reform aimed at simplifying the taxation system and offering benefits to both consumers and businesses. GST, by unifying various indirect taxes, aimed to create a seamless tax structure that promotes economic growth. However, to safeguard consumer interests and ensure fair […]
Varnika Gupta
February 17, 2025 at 11:41 AM
Zero Rated Supply Under GST: Meaning, ITC & Compliance
Introduction India’s Goods and Services Tax (GST) system aims to simplify taxation, providing multiple classifications for the supply of goods and services. Among these classifications are zero rated, exempt, and no supply, each having distinct tax implications. For businesses involved in exports or those operating within Special Economic Zones (SEZs), understanding zero rated supply under […]
Varnika Gupta
February 17, 2025 at 11:33 AM
What is Cess in GST and How Does It Work?
Introduction Imagine purchasing a luxury SUV worth INR 1 crore, only to discover that in addition to the standard 28% GST, a 20% GST cess is levied. This extra tax significantly increases your total cost. Similarly, when purchasing cigarettes, GST at 28% is applied, along with a specific tax of INR 4,170 per 1,000 sticks. […]
Ali Sherwani
February 17, 2025 at 11:26 AM
Types of GST Returns in India Explained
Introduction The implementation of the Goods and Services Tax (GST) in India was a significant reform that replaced various indirect taxes with a unified tax system. GST compliance involves filing periodic returns based on business transactions. Understanding the different types of GST returns is crucial for businesses to ensure timely submission and avoid penalties. GST […]
Varnika Gupta
February 17, 2025 at 11:09 AM
How to Draft a Letter of Authorisation for GST
Navigating through the intricate world of GST compliance can be a challenge for many businesses and individuals. Between the deadlines, the complexities of filing returns, and staying up-to-date with the latest rules, the role of a GST representative becomes more crucial than ever. But what if you need someone to handle your GST filings on […]
Ali Sherwani
February 17, 2025 at 10:57 AM