GST Guide

GST Guide articles are detailed by our GST experts that share all the relevant information regarding GST and related concepts under GST.Subscribe and stay updated.

Anti-Profiteering

Anti-Profiteering

India had its first experience with Anti Profiteering provisions when GST came into play in 2017. The idea behind introducing anti-profiteering in India was to control inflation which was observed in other countries where GST had been rolled out such as Australia, Malaysia, etc. LIST OF TOPICS COVERED: Background & Definition NAA – Constitution, Duties, …

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GST Returns In Relation To Job Work

GST Returns In Relation To Job Work

Job work is a vertical of the business wherein a principal manufacturer can send inputs or semi-finished goods to a job worker for further processing. GST law is devised in a way to ensure the compliance liability for the job worker rests with the principal to the extent possible. ITC-04 is a return form required …

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Liability To Pay Tax In Certain Cases

Liability To Pay Tax In Certain Cases

While the ultimate burden of an indirect tax is to be borne by the consumer, under the Central Goods and Service Tax Act, 2017 (‘CGST ACT’) the responsibility to collect and deposit the tax with the government rests with the supplier. A supplier shall be liable for the collection and deposit of GST, provided he …

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Deemed Exports And Zero-Rated Supply

Deemed Exports And Zero-Rated Supply

Exports are incredibly important to modern economies because they offer businesses many more markets for their goods. One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties. Therefore, the government has taken various steps from time to …

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Levy Of Cess Under GST

Levy Of Cess Under GST

GST known to be One Tax – One Nation is a combination of Integrated GST, Central GST, State GST, and Cess. GST has replaced a number of indirect taxes and levies under Union and state legislation. Before the introduction of GST, there were various types of Cess applicable like Krishi Kalyan Cess, Swachh Bharat Cess, …

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Concept Of Demands & Recovery Under GST

Concept Of Demands & Recovery Under GST

GST is levied on any taxable outward supplies by a person. The complete responsibility of calculation, chargeability, and payment of tax has been assigned to the person making outward supplies. It is a self-assessment tax without any interference from the department. However, it may happen that a person has short paid or not paid taxes …

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GST Interests And Penalties

GST Interests And Penalties

For any law to be effective, it is important that persons should comply with the legal requirements specified in the law. A fear of interests and penalties instills timely compliances and adherence to the legal requirements mentioned in the law. Here we will try to decipher the provisions laid down for interests and penalties under …

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