GST Non Compliance GST Non Compliance, refers to the failure of a registered taxpayer to fulfil the requirements and obligations as prescribed by the Goods and Services Tax (GST) laws and regulations. Non-registration: Failing to register for GST when required by law, either due to not meeting the threshold for registration or intentionally avoiding… Read More »
GST on raw material input If there is no GST on raw material input, then there will be no GST charged on the sale of the. However, if raw material use in the production of a taxable good or service. Then GST will charge on the value of the final product or service at the… Read More »
What is Input Tax? Input tax refers to the VAT (Value Added Tax) or GST (Goods and Services Tax) that a business pays on its purchases of goods and services. This tax is paid to suppliers and is recoverable against the VAT or GST a business collects from its customers. Essentially, input tax is the… Read More »
New compliance under GST New compliance under GST, Here are some common compliances requirements under the Goods and Services Tax (GST) in India. GST Registration: Businesses whose turnover exceeds the prescribed threshold are required to register for GST. GST Returns: Registered taxpayers need to file regular GST returns based on their category and turnover.… Read More »
Claim GST Input Credit When it comes to claiming GST input credit for a mobile phone purchased in the name of your shop but used for personal purposes, there are certain factors to consider. As an individual with a shop that has a GST number and pays GST monthly. You may wonder if you… Read More »
Deadlines for GST Tax Payments The specific deadlines for GST tax payments vary based on the taxpayer’s category and the frequency of their filinga Here are some general guidelines for GST tax due dates in India: Monthly GST Return Filers: For businesses that file their GST returns on a monthly basis, the tax due… Read More »
GST Tax Imposed The imposition of the Goods and Services Tax (GST) occurs when there is a taxable provision of goods or services, ensuring its uniqueness.. In most countries that have implemented GST, including India, the tax is levied at the point of supply, which is generally the time of sale or provision of goods… Read More »
GST Input Invoice Copies GST input invoice copies, As per the GST rules, the original invoice is require to claim input tax credit (ITC) under GST. If you have lost the original invoice, you may be able to use a duplicate copy or a self-attest copy, subject to certain conditions. The duplicate copy of… Read More »
GST Due date Businesses usually make the payment of Goods and Services Tax (GST) when they file their GST returns. The GST due date tax payment can vary depending on the jurisdiction and the frequency of return filing. In most cases, businesses are required to pay the GST liability within a specified period after the… Read More »
GST Registration Exemption GST registration exemption for online selling, All products sold online in India are required to have a GST registration number, regardless of the type of product. There are no specific types of products that are exempt from GST registration for online selling. If you are selling products online, you are require to… Read More »
