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 »
Can I Use a Single GST Number for Selling Products and Services In India, the Goods and Services Tax (GST) is a comprehensive tax system that has streamlined the taxation process for businesses. A common question among entrepreneurs and small business owners is whether they can use a single GST number for selling both… Read More »
Is the Requirement of an Original Invoice Under GST Mandatory? The Goods and Services Tax (GST) regime has introduced a comprehensive system of taxation in India, aiming to simplify and streamline tax compliance for businesses. One of the crucial aspects of GST compliance is the requirement for invoices. A common query among businesses is whether… Read More »
Basics of GST Basics of GST, Goods and Services Tax, is a comprehensive indirect tax that was introduce in India on July 1, 2017, with the aim of simplifying the tax structure and eliminating multiple layers of taxation. Here are some key things one should know about GST: 1.GST is a destination-based tax: GST… Read More »
GST for Ecommerce Operator Here are some key aspects of GST compliance for an e-commerce operator: GST Registration: An e-commerce operator is required to obtain GST registration, irrespective of its turnover. The registration process involves providing the necessary information and documents to obtain a GST registration number. Tax Collection at Source (TCS): As… Read More »
GST rates GST rates: The Goods and Services Tax (GST) in India is a value-added tax applied to the supply of goods and services. The applicable GST rates for commissions are determined based on the nature of the commission and the type of service rendered. In general, commissions are considered services and are subject… Read More »
Service charge after GST Service charge after GST, Following the implementation of GST, the practice of a distinct service charges has been eliminate. According to the guidelines provide by the Ministry of Consumer Affairs, any applicable service charges should be include in the menu prices. And customers are not oblige to pay an… Read More »
GST for Freelancers GST (Goods and Services Tax) number is not mandatory for all freelancers. Whether GST freelancers need to obtain a GST number or not depends on their specific circumstances and the nature of their work. To Visit https://www.gst.gov.in/ In general, if a freelancer’s annual turnover exceeds the threshold set by the government, which… Read More »
GST Compliance Checklist GST compliance checklist, Maintaining compliance with the Goods and Services Tax (GST) regulations is crucial for businesses. While the specific requirements may vary depending on the country. Here is a general GST compliance checklist GST Registration: Ensure that your business is registered for GST as per the prescribed threshold limits and… Read More »
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 »
