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…
GST Rate & HSN Code for Software and Software Services
GST Rate & HSN Code for Software and Software Services Understanding the taxation framework for software and its services can be challenging, particularly when determining the appropriate HSN code and…
Consent Letter for GST Registration: Format and Guidelines
In today’s digital age, many entrepreneurs operate businesses remotely or from home, often without a dedicated office space. In such cases, businesses must register under GST by declaring a place…
Input Service Distributor (ISD) under GST
An Input Service Distributor (ISD) is a category of taxpayer under the Goods and Services Tax (GST) system responsible for distributing input tax credits (ITC) related to its GSTIN to…