Claiming Benefits of GST paid on Business expenses (Simplified)

The concept of GST is similar to that of VAT and Service Tax, which was applicable earlier. The only difference between the two is the mechanism of taking Input Tax… Read More

How to apply for IEC code for Import and Export of goods?

An IEC Code is a 10-digit code Importer Exporter Code, issued by the Director General of Foreign Trade (DGFT), which is mandatory for every organisation who does or intends to… Read More

All about GST Compensation Cess

GST Compensation Cess is an additional cess levied on certain notified goods in addition to GST applicable on it. GST Compensation Cess also known as GST Cess was introduced to… Read More

GST e-Way Bill: Validity, Applicability, Rules & Procedure

E-Way Bill is an electronically generated document which is required to be generated for the movement of goods of more Rs. 50,000 from one place to another anywhere in India… Read More

Submit LUT for Exports without payment of GST (Updated)

Export sales are considered as a case of Inter-state sale under GST and are therefore covered under the IGST Act. As per the IGST Act, the export of goods and… Read More

E-Way bill GST implementation: Are the businesses prepared for GST E-Way Bill?

One might wonder about the reason of early implementation of E-Way Bill because initially the government had planned to introduce it from April 2018. But instead in the GST council… Read More

Form GSTR-3B of GST – Boon or Curse?

Form GSTR-3B is a summary return inserted by Government in lieu of Form – GSTR-3. This Form was introduced as stop-gap arrangement to collect tax from the taxpayer. As all… Read More

GST on Ads @18% on Digital Media & @5% on Print Media

GST on Ads is levied at the following rates Digital Media – 18% Print Media – 5% GST on Ads on Mobile, Website, Apps etc GST on Ads on Mobile… Read More

GST on Rent @ 18% (Explaining all Practical Scenarios)

GST has been introduced in India with effect from 1st July and it subsumes several indirect taxes like VAT, Service Tax, Excise Duty etc. All expenses on which these indirect… Read More

GST on Reimbursement / Pure Agent in GST (explained with examples)

For the purpose of determination of GST on Reimbursement, we first have to understand the meaning of a pure agent. The GST Act defines pure agent as a person including… Read More

TCS in GST @ 2% for sale through e-Commerce websites

To reduce the cases of tax evasion, the govt has inserted the provisions of TCS in GST for all sales which are done through e-commerce websites. The provisions of TCS… Read More

GST Refund in case of Exports & Refund of Input Tax Credit in India

If any excess GST has been paid or there is any input tax credit which has not been utilised, a person can claim refund under Section 54 of the excess… Read More

TDS on Contractor

TDS on GST @ 2% on payment above Rs. 2.5 Lakhs

TDS @ 2% is required to be deducted on payment made to the supplier of taxable goods or services of both where the value of such supply under a contract… Read More

GST Audit mandatory above Rs. 2 Crores or if required by Dept

GST is a trust based taxation regime wherein the taxpayer is himself required to self assess his tax liability and himself pay the same without any intervention by the tax… Read More

Place of Supply in GST – Explained with 11 Practical Examples

Determining the Place of Supply of Goods or Services is very important as it would determine the nature of tax to be paid. In case the location of the supplier… Read More

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