Rent payment is one of the most famous expenses in any industry. GST (Goods and Services Tax) is charged on rent in many cases. This article gives all the information about the impact of GST on property rented for commercial purposes and other details. Impact of GST on rental fee The implementation of GST (Goods … Read more
The new functionalities to be deployed on the GST portal will be available from July 2021. In order to provide the best and hassle-free experience for taxpayers, the government is providing these new functionalities. These new functionalities are deployed on the GST Portal. Let’s look at these new functionalities deployed on the GST Portal in … Read more
When you buy products or avail of services that fall under the GST Registration, the supplier or the person providing the service will charge and collect both the CGST and SGST, and IGST. The central government will collect the GST on all goods and services except a few exempt items. The GST is charged on the … Read more
India is among the countries where cryptocurrencies are not considered assets and, therefore, not liable for capital gains tax. The department of indirect taxes has asked some Bitcoin exchanges to provide information regarding their customer bases to determine whether or not they should be required to pay GST on Cryptocurrency on specific services along with … Read more
As we know GST on the Supply of Electricity is confusing to many people. The reason is it is hard to qualify Electricity as a good or service. Also, whether or not a tax is payable in combination with the delivery of power combining with some other service components to clients. Therefore, in this article, … Read more
The Central Board of Indirect Taxes and Custom has stated that the businesses whose annual turnover is less than 40L need not go for GST Registration. Further, the documents vary as per the business, and here you will get comprehensive information of the same. In general, the essential documents for GST Registration are Aadhar Card, PAN … Read more
New Feature On GST Portal To Combat Fake GST Registration is a Most awaited feature. As we all know, a PAN(Permanent Account Number) card helps in revealing an individual’s identity. The PAN card has become more critical than ever. The reason is, it is majorly used to identify and track all the financial information. Furthermore, … Read more
The Kerala government asked the Central Board of Revenue (CBR) to take a decision on bringing petrol, diesel under GST regime and proposed that the matter be transferred to the GST appellate tribunal. Chief justice S Mani Kumar and justice Shaji P Chaly demanded that the government should decide on the representation of the petitioner … Read more
GST Tax relief in the milling, pharma, education, and food sectors was much needed. As we know, The government has announced several reliefs to taxpayers. These include amnesty schemes, Mid-day Meal schemes, Tax Rates reduced on COVID-related medicines and types of equipment, and several others. These reliefs seem to be giving comfort and a ray … Read more
With about 3.8 million visitors daily to the GST Registration site, the Food and Beverage category is one of the fastest-growing sections, with a 28% increase in online sales from the previous year. In this article, we will discuss on Impact of GST on Fast-Moving Consumer Goods (FMCG) Sector. About FMCG Sector Fast-moving consumer goods … Read more