Tag Archives: #GSTExperts

Can I claim ITC on the GST paid under the RCM?

Input Tax Credit   However, it’s important to understand that not all goods and services are subject to RCM. GST is only applicable under the Reverse Charge Mechanism (RCM) in specific situations as specified by the government. For instance, RCM applies to services provided by a goods transport agency, legal services, services provided by an… Read More »

As a service provider, do I have to pay Goods and Services Tax?

Goods and Services Tax Yes, in India, as a service provider, you are required to pay Goods and Services Tax (GST) if your annual turnover exceeds the threshold limit of Rs. 20 lakhs (or Rs. 10 lakhs for some special category states). Even if your turnover is below the threshold limit, you have the option… Read More »

Is one GST registration possible for different businesses?

Is one GST registration possible for different businesses Yes, the GST Act permits businesses to operate multiple businesses, business verticals, and business branches using the same GSTIN. This concept is known as Vertical Business in GST. Under this concept, you have the flexibility to register your various businesses and business branches under a single GST… Read More »