A Comprehensive Guide Introduction What is RCM in GST? : The Reverse Charge Mechanism (RCM) under Goods and Services Tax (GST) is an important concept that shifts the liability of tax payment from the supplier to the recipient of goods or services. While the regular GST system requires the supplier to collect and deposit tax,… Read More »
GST on Popcorn: Analyzing the Impact on Businesses and Consumers Introduction Goods and Services Tax (GST) is one of India’s most significant tax reforms, introduced to create a uniform taxation system across the country. However, its impact varies across different industries and products. One such product that has seen varied tax rates under GST is… Read More »
Introduction Goods and Services Tax (GST) has significantly impacted various industries in India, including the catering business. Whether for weddings, corporate events, or small gatherings, catering services play a vital role in providing food and beverages to customers. However, the taxation of catering services under GST is often misunderstood. In this article, we will explore… Read More »
GST on Flat Purchase : The Goods and Services Tax (GST) has significantly transformed India’s taxation system, impacting various sectors, including real estate. For homebuyers, understanding the GST on flat purchases is crucial as it affects the overall cost of acquiring a property. In this article, we will provide a detailed guide on GST implications… Read More »
The Goods and Services Tax (GST) was implemented in India on July 1, 2017, to replace multiple indirect taxes. It is levied on the supply of goods and services, categorized into 5%, 12%, 18%, and 28% tax slabs. However, certain goods are exempted from GST, meaning no tax is levied on their supply. GST-exempt goods… Read More »
The construction industry is one of the largest sectors in India, contributing significantly to the country’s GDP. With the introduction of the Goods and Services Tax (GST) on July 1, 2017, the taxation structure for construction work underwent a major transformation. Earlier, the industry was subject to multiple taxes like Value Added Tax (VAT), Service… Read More »
Goods and Services Tax (GST) is a destination-based tax system that has replaced multiple indirect taxes in India. One of the fundamental features of GST is the seamless availability of Input Tax Credit (ITC), which helps businesses reduce their tax liability and avoid cascading effects. Understanding how GST input credit works is crucial for businesses… Read More »
The Goods and Services Tax (GST) has significantly transformed India’s indirect tax landscape since its introduction in July 2017. One of the key aspects of GST is its treatment of exports, particularly the export of services. Given the global nature of many businesses today, understanding how GST applies to export transactions is crucial. This article… Read More »
Understanding GST on Flat Purchase in India When buying a flat, understanding Goods and Services Tax (GST) is essential as it impacts the total cost of your investment. GST, introduced on July 1, 2017, under the Goods and Services Tax Act, replaced multiple indirect taxes such as VAT, service tax, and excise duty. This brought… Read More »
Company Registration Company registration or incorporation in India involves several steps and legal formalities to establish a business entity legally recognized under Indian law. Here’s a comprehensive overview: 1. Choose the Type of Company: Select the appropriate legal structure for your business, such as: a). Private Limited Company b). Liability Partnership (LLP) c). One Person… Read More »
