GST Articles
GST Rates on Goods and Services under various Tax Slabs, 2020
GST legislation has been in place from 1 July 2017. The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18%, and 28% under GST.
An Insight into E-Invoice System
A) Background:- 1) The GST Council, at its 37th meeting held at Goa on 20th September, 2019 approved the introduction of E Invoicing System. Accordingly t...
Saga of Interest Provision under GST - To be paid on the Net liability
But the moot question that came was whether this interest has to be paid on Gross liability or net liability paid in cash.
Interest on Net Tax Liability under GST - Light at the end of the Tunnel?
The interest liability for any belated remittance is an economic consequence. The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date.
Transfer of land and its development rights under GST
Transfer of land and its development rights under GST
Levy of interest under GST - Complexities involved
Levy of interest under GST - Complexities involved
All about input tax credit under goods & services act
Input Tax Credit or ITC is a credit that can be used to pay off the tax liability of registered taxpayers. It is a tax paid by the person registered under the GST Act when he purchases goods or avails any services from a registered taxable person.
GST Rate on Job work 12% or 18%?
“Job work means any treatment or processing is undertaken by a person on goods belonging to another registered person and the expression ‘job worker’ shall be construed accordingly.
A Quick view on Composition Scheme under GST
Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*.
Monthly Recap: August 2020 GST Updates
GST department has come up with frequent updates in the month of August. This article summarizes all the updates including how these may benefit taxpayers.
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