GST

TDS and GST on Advertisement through Google Adwords

GST @ 18% is levied and TDS @ 2% is deductible on the Google Adwords advertisement expense. It is important to note here that some publishers are advertising through the… Read More

TDS on Contractor

Comprehensive Guide on TDS on GST @ 2% (with Examples)

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

MSME-Classification

The new classification of MSME on the basis of Turnover

The classification of MSME for both goods and services organisation is done on the basis of the turnover and is as follows:- Classification Turnover Micro Enterprise Upto Rs. 5 Crores… Read More

How I stay updated with the latest Tax Laws and you can too

The day I qualified my CA Exams, I was on 7th heaven and very confident that clients would soon start coming to engage me for my services and there would… Read More

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

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