Goods and Services Tax
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Non-Payment of Requisite Fee: Advance Ruling Application rejected
Advance ruling Application Rejected for Failure to Submit ARA-01 Form & Requisite Fee
Prepayment premium for prepayment of loans is taxable under CGST Act, 2017
GST Appeal delay: HC dismisses writ as petitioner availed statutory remedy
Corporate Guarantees Under GST – An Exhaustive Analysis
E-Way Bill System: FAQs, Compliance and Impact in India
Impact of GST on mobile phone manufacturing in India
Re-gasification services for Liquified Natural Gas (LNG) constitute job work
Unutilized ITC of Compensation Cess – Retention or Reversal – AAR cannot give ruling
Madras HC Upholds Taxpayer’s Refund Right: Inverted Duty Structure Ruling
Section 16(4) of CGST Act – Why It May Never Be Struck Down
GST Compliance in 2023: File GSTR-9, E-invoice, Amnesty Scheme etc.
Decoding TCS Compliance for E-Commerce Operators under GST: A Comprehensive Guide
Demystifying GSTR-1: A Comprehensive Guide for GST Compliance
Goods and Services Tax India
The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.
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