Goods and Services Tax: Understanding GST in India – Indirect Tax Law
What is GST in India? GST, or Goods and Services Tax, is an indirect tax that replaced several earlier indirect taxes in India, such as excise duty, VAT, and service…
Section 73 of the CGST Act: Applicability, Time Limit, and Penalty
Since the rollout of GST in India, Section 73 of the CGST Act has been applied to determine GST demands in genuine cases where there is no fraudulent intent. However,…
GST vs Income Tax: Understanding the Difference Between GST and ITR Filing
For every taxpayer in India, it is important to know how the tax system works and the correct way to file both direct and indirect taxes. Having a clear understanding…
Documents Needed for GST Registration
Any individual involved in the taxable supply of goods or services within a state, with an annual turnover exceeding Rs 20 lakh (Rs 40 lakh or Rs 10 lakh depending…
GST State Code List and Jurisdiction
Each state and Union Territory in India is assigned a distinct state code under the GST framework. These GST state codes form a crucial part of a business's GST Identification…
GST Composition Scheme: Eligibility, Limits, Rates, and Advantages
The GST Composition Scheme is a simplified tax scheme designed to ease the compliance burden for small taxpayers. Under this scheme, eligible taxpayers can pay GST at a fixed percentage…
GST Benefits – Advantages and Disadvantages of GST
The Goods and Services Tax (GST) is one of India’s most significant tax reforms, combining various indirect taxes previously levied by both the Central and State Governments—such as excise duty,…
Tax Deducted at Source (TDS) under GST
Under the Goods and Services Tax (GST) regime, TDS is required to be deducted at 2% on payments made to suppliers providing taxable goods or services, by specific notified entities.…
GST on Mobile Phones: Applicability, HSN Code, and GST Rate
The GST rate on mobile phones and accessories was increased from 12% to 18% effective 1st April 2020, as decided in the 39th GST Council meeting. Additionally, Budget 2023 proposed…
GST on Food and Restaurants – Rules & Rates Explained
This article explores the impact of GST on one of our favorite indulgences—food and restaurants. It delves into how GST applies to food items and restaurant services, explaining its effect…