Input Service Distributors are individuals responsible for distributing GST ITC or input tax credits. The ISD should maintain tax credits to any company’s branches with a distinct GSTIN or their GSTIN registered within the same PAN. In this post, you can learn about the meaning and benefits of an ISD in GST in detail. Who …
When one rents a residential property for accommodation purposes, it is let off from goods and services tax. Any other category of lease or rent of an immovable asset for performing business shall require GST. It would need about 18% of GST. This is because it shall be considered a service supply. In this piece, …
GST on rent: Applicability, Provisions, Calculation and Payment Read More »
If you’re familiar with the GST idea, you may quickly discover a registered company’s GST number or GSTIN by searching for its name or Personal Identification Number (PAN). Through partnership with the national government, each state has access to a common database of GSTIN and business names, allowing you to do a GST search using …
The Indian Government has given each taxpayer access to an online site to streamline and facilitate the GST filing procedure. This official portal for GST simplifies the registration process. Registering your company is the initial stage, which may be done online by filling out an application. Getting your GSTIN (GST Identification Number) will take some …
The acronym GST stands for Goods and Services Tax, which serves as an indirect taxation system in India. This effectively succeeds various other indirect taxes within the country. GST operates as a consumption-oriented tax applicable to both goods and services throughout the nation. The primary objective of what is GST India is to streamline the …
What is GST in India? Meaning, Types, Features, and Their Impact on Business Read More »
The intricate network of indirect taxes has been replaced with a single, unified system by the Goods and Services Tax (GST), completely changing the tax landscape in India. The GST bill, a document that is essential to the entire taxing procedure, is one important component of this system. We’ll go into the nuances of the …
The Goods and Services Tax (GST) is a significant taxation reform implemented in India that shows varied indirect taxes under one umbrella. These days, every business is registered under GST, and they have to show a GST certificate that serves as proof of their registration. Regards to this, availing and downloading this Certificate is important …
What is a GST registration certificate, and how to download it? Read More »
The implementation of the Goods and Services Tax (GST) regime marks a substantial transformation of India’s indirect tax system. This change has streamlined the tax process, enhancing accessibility to compliance for businesses nationwide. A pivotal element of adhering to GST regulations is the filing of GST returns. This article will delve into the meaning of …
Textiles are India’s second largest industry after agriculture. GST on apparel divides the garments and clothing category into many categories. The garment and clothing sector is so broad that it is impossible to cover everything in one chapter. Furthermore, the GST in garments varies depending on the type of commodity. This blog will give you …
GST on Clothes: Meaning, Rate, Exemptions and its Impact of GST on Clothes Read More »
The Goods and Services Tax (GST) levied on food services in India can range from 5% to 12% to 18%, depending on several variables, including the establishment’s nature and location. Value Added Tax (VAT) and service tax systems were superseded by introducing GST rate on food service industry. But it’s crucial to remember that restaurant …
GST on Food and Restaurants: Meaning, its Rules, Rates on Food, and its Impact Read More »
