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
How to File an Appeal Under GST: A Step-by-Step Guide
Introduction The implementation of the Goods and Services Tax (GST) in India has significantly streamlined the taxation system. However, disagreements between taxpayers and authorities may still arise, leading to the need for a GST appeal process. An appeal under GST allows taxpayers to challenge decisions by GST officers, ensuring fair tax compliance. Understanding the appeal […]
Varnika Gupta
February 15, 2025 at 12:47 PM
Understanding the Value of Supply under GST: Rules, Rates and Compliance
Introduction Imagine a scenario where a business supplies luxury watches to a retailer at an invoice value of INR 50,000 per unit, excluding transportation and insurance charges. However, these additional costs impact the GST taxable value, making the final taxable amount different from the initial invoice value. Now, picture another case where a company offers […]
#value of supply under GST
Ali Sherwani
February 15, 2025 at 12:37 PM
Understanding Composite GST in India
Introduction The composite GST scheme is a tax compliance mechanism under the composition scheme that allows small businesses to pay a fixed percentage of their turnover instead of following the standard GST filing rules. This system simplifies taxation and reduces compliance costs for businesses with lower revenue. However, GST compliance India has specific criteria for […]
#gst composition
Vanshika
February 15, 2025 at 12:32 PM
Compulsory Registration Under GST Explained
Introduction Under India’s GST compliance framework, businesses must adhere to GST registration rules based on their turnover, type of supply, and location. For many businesses, this means compulsory registration under GST to ensure compliance and avoid penalties. This guide explains who needs mandatory GST registration, the process to register, GST applicability criteria, and the penalties […]
#compulsory registration under gst
Vanshika
February 15, 2025 at 12:30 PM
How to Fix DSC Errors in GST Portal?
Introduction A DSC error in GST is a common issue that many taxpayers face while filing GST returns or authenticating documents on the GST portal. The error occurs due to multiple reasons, such as software incompatibility, or missing updates. Since a Digital Signature Certificate (DSC) is mandatory for companies, LLPs, and certain taxpayers, resolving digital […]
#dsc error in gst
Vanshika
February 15, 2025 at 11:59 AM