Under GST, people who move things from one place to another should carry an eWay Bill if certain conditions are met. 1. What is an eWay Bill? EWay Bill is an electronic bill that needs to be made on the eWay Bill Portal to move things. A person who is registered for GST can’t move goods worth more than Rs. 50,000 (single invoice, bill, or delivery challan) in a car without an e-way bill made on ewaybillgst.gov.in. You can also create or cancel
E-commerce has grown a lot in India because more people buy and sell things online now that they have computers and access to the internet. Before, there were no clear rules about how to tax online sales. The GST has clear rules for online shopping sites like Amazon and the sellers who use them. In this piece, we’ll talk about what kind of GST you should charge for sales you make online. Place of supply GST is a destination-based tax, which means that
Under the GST, if a dealer wants to use the composition scheme, they have to let the government know. Form GST CMP-01 or Form GST CMP-02 can be used to do this. A moving taxpayer who wants to use the composition scheme must fill out Form CMP-01. The deadline was August 1, 2017, which was one month after July 2017. If a user wants to use the composition scheme for a fiscal year or in the middle of a fiscal year,
GST login on the GST portal (www.gst.gov.in)is crucial for every taxpayer to file GST returns, claim refunds, or reply to notices. In this article, let’s understand the GST login portal, services available before and after GST login, steps to obtain GST login, and steps to log in to the GST portal successfully. Exactly what is the GST portal? The GST Portal is a PAN-India government website for GST compliance. The GST government website or portal is hosted at https://www.gst.gov.in/. The government portal
People have paid attention to the Goods and Services Tax (GST) rule. In India, a new rule has been proposed that will change how people do business and how goods and services are taxed. No one knows if it makes things cheaper for regular people like you and me. But this will change our jobs, our companies, and the way the economy works as a whole. Enough to make us want to learn more about it! Who does it apply to? To
TDS is a part of income tax in a way. It has to be taken out of some fees that a person makes. In this piece, we’ll talk in depth about the Income Tax Act’s TDS rules. What is TDS? – TDS Meaning and Full Form TDS stands for “Tax Deducted at Source.” This means that income tax is taken out of certain payments, like rent, commission, professional fees, wages, interest, etc., when they are made. Income tax is usually due by
This is a new idea that came out of the GST. It will cover all supplies made at the same time, whether they are connected or not. You can have a “composite supply” or a “mixed supply” if you sell more than one good or service. Under the GST law, the idea of a “compound supply” is similar to the idea of “naturally bundled services” under the Service Tax Law. But the idea of a mixed source is completely new. What
Reverse charge is a way for the person who gets the goods or services to pay the Goods and Services Tax (GST) instead of the person who gave them to them. What is Reverse Charge Mechanism? Most of the time, the person who sells the good or service pays the tax on supply. Under the reverse charge system, the person who gets the things or services is the one who has to pay the tax. This means that the chargeability changes. The goal
GST is a single indirect tax that is the same everywhere. It was made to replace Central and State indirect taxes like VAT, CENVAT, and others with a single, uniform indirect tax. Any business, no matter how big or small, has to pay GST. This makes it one of the best tax changes the country has ever made. A single tax system will be used for the whole country. As the name suggests, GST will apply to both goods and
The Goods and Services Tax (GST) is an indirect tax system that was put in place in India in 2017.. GST has replaced a number of existing indirect taxes, such as excise duty, service tax, and value-added tax (VAT). Monthly GST filing is the process of submitting GST returns to the government every month. This is a complex process that can be time-consuming and difficult to do correctly. GST practitioners can help you with this process by providing a number of
