Circular No. 189/01/2023-GST issued by the Central Board of Indirect Taxes and Customs (CBIC) on January 13, 2022 provides clarification regarding levy of GST on various goods. It is based on the recommendations of the 48th GST Council Meeting. The CBIC has also issued an announcement for the classification of Rab in this notification. The … Read more
This article will break down GST registration for small shopkeepers and explain what you need to know. You play a vital part in the Indian economy as a small shopkeeper. However, with the adoption of the Goods and Services Tax (GST), you may be concerned if you must register for GST and what this implies … Read more
This article will explain the annual turnover threshold limit for GST registration and for your business. As a business owner, you must be aware of the yearly turnover threshold limit for GST registration in order to comply with the law and avoid severe fines. What is GST? The Goods and Services Tax (GST) is a … Read more
Exchanges for virtual currencies have gained traction as a marketplace for buying, selling, and trading in India. But the Goods and Services Tax (GST) introduced by the Indian government has sowed doubt and uncertainty across the crypto sector. In this article, we will look at how the GST on crypt exchanges in India and what … Read more
Finance Minister Smt. Nirmala Sitharaman’s announcement of significant revisions to tax slabs under the new tax regime and a significant increase in expenditure for railroads and capital spending along with incentives to key sectors was good news for taxpayers and the economy. The Union Budget 2023, the fifth budget under Modi 2.0, was delivered by … Read more
In order to simplify India’s indirect tax structure and lessen the impact of additional levies, the country adopted a consumption-based tax system known as the Goods and Services Tax (GST). It is the responsibility of any business that has registered for GST to keep their GST registration certificate updated at all times. This post will … Read more
The Goods and Services Tax (GST) in India is an all-encompassing indirect tax on the selling of goods and services. It is a tax based on the market value of the products or services and is collected at each stage of the distribution network. In India, the Goods and Services Tax (GST) is the successor … Read more
The Goods and Services Tax (GST) is an indirect tax levied on the sale of goods and services in India. The GST is administered and collected by the Central Government, in conjunction with the State Governments, to ensure that taxes are paid on all transactions. GST registration is mandatory for all businesses in India, and … Read more
Circular 190/02/2023-GST, issued by the Central Board of Indirect Taxes and Customs (CBIC) on January 13, 2023, provides guidance on whether or not GST applies to a variety of services. This also includes clarification on applicability of GST on Incentive paid by MeitY(Ministry of Electronics and Information Technology) to acquire banks under Incentive scheme for … Read more
Goods and Services Tax (GST) is a comprehensive, indirect tax levied on the supply of goods and services in India. Goods and Services Tax was introduced in 2017 to replace various indirect taxes levied by the central and state governments. In this article, we will understand the applicability of GST on health insurance in India. … Read more