Introduction to Goods and Service Tax (GST)

Introduction of  Gst means Goods and Service Tax. Has been introduced to substitute various indirect taxes imposed by Central and State Governments in a way to clarify the indirect tax system. It is a tax which is made on the sale, making and the practice of the goods and services. It is an individual tax that is lived on the supply of the goods and services. Right from the manufacturer to the customer. GST means is a consumption-based tax conclusively shown by the end consumer of goods or service. Businesses [...]

By | 2019-05-18T08:40:18+00:00 May 18th, 2019|GST|Comments Off on Introduction to Goods and Service Tax (GST)

GST Registration: Types, Procedure, Reverse Charge, Exemptions and Compliance

What is GST Registration? Subsequent to the roll-out of the GST (Goods and Service Tax) since July 2017, all the earlier indirect taxes, being imposed by the state or central government has been replaced. Under this GST system, it got mandatory to convert the previous VAT/CST State wise Assessee and Service Tax or Excise assessee to the new tax reform and get GST Registration for their business. Moreover, every business whose turnover is more than Rs. 20 lakhs (except some northeastern states where the limit is 10 lakhs) is required to get registered [...]

By | 2019-04-01T11:28:13+00:00 March 13th, 2019|GST|Comments Off on GST Registration: Types, Procedure, Reverse Charge, Exemptions and Compliance