Input Tax Credit on Inputs sent to Job-worker for Job-work under GST Rules
Understanding Input Tax “Input tax” means the {CGST and IGST}/{ SGST and IGST} paid on any goods or services which are used or will be... Read More
GST
Goods and Services Tax (GST) details, news, judgments and opinions on this category. GST is a consumption tax levied on the supply of goods and services within India. It’s a unified tax system that replaced multiple indirect taxes, simplifying the tax structure. The GST rate for a product category can vary based on its classification and government policies.
GST is levied by both the central and state governments. The specific rate applied depends on the nature of the transaction.
The GST rate is also applicable to online sales of products in this category. E-commerce businesses must comply with specific GST regulations, including the collection of GST from customers and remitting it to the government.
Offences and Penalties under GST
4 min read
Offences are penalties are one of the most significant parts of any ACT that provide a stick to the Act for its proper implementation and... Read More
What will be the implications of GST over Inter-State Transactions?
Understanding GST’s role in Inter-State Trade As per the Integrated Goods and Services Tax (IGST) law, IGST would mean that the tax which is levied... Read More
GST Draft Set of rules released- Send your suggestions by 28th September 2016 to be considered
2 min read
CBEC has issued draft set of rules for GST and has invited comments on the same from public. The gist of such rules is given... Read More
Would GST make Imports Costlier or Cheaper? An Insight
There are different types of taxation and the duties that are sure to have effect on the imports. Whether the GST makes imports costlier or... Read More
GST & Changes in the Job Work rules
2 min read
Meaning of Job work: Where a person manufactures or produces on behalf of any other person (Raw material Supplier) such person are referred to as... Read More
BREAKING News- GST threshold limit fixed
1 min read
Government has fixed threshold limit for GST at Rs 20 lacs Rs 10 lacs for NE States. Base year will be Fy2015-16 to consider threshold... Read More
Composition scheme under GST
5 min read
CA Venkata Prasad GST is intend to cover larger number of people under its net and further keeping threshold exemption limit of 10Lakhs many people... Read More
CENVAT credit on rent-a-cab – hidden ambiguity that may allow credit despite of other restrictions
4 min read
CA Venkata Prasad Denying of CENVAT credit on service of rent-a-cab is favourite to revenue officers. For the period upto 01.04.2011, courts/tribunals allowed the credit... Read More
Meaning & Scope of ‘Supply’ under GST
8 min read
CA Venkata Prasad GST is said to be levied on ‘supply’ in legal words taxable event is ‘supply’ thereby dispensing with the existing different taxable... Read More
Major Changes Expected in Direct Tax Code 2025 and why these matter 
Can an assessee pay House Rent to his parents and claim relief? Would there be any legal complications? 
Boost Your Business & Reduce Taxes: A Guide to Maximizing Benefits Under Section 80JJAA 
What is remedy to taxpayer if the Tax deductor fails to deposit the TDS or fails to file TDS Return