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How to Verify GSTIN

GSTIN (Goods and Services Tax Identification Number) is the identification number given to every person registered under GST. In your business dealings, especially with new suppliers, you may want to verify GSTIN quoted by your supplier. Under GST, as your input credit depends upon your…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

54,955 total views, 25 views today

Services Supplied to Nepal and Bhutan: Export or Not?

In our previous blog on imports and exports under GST, we had learnt about the conditions to be satisfied for a supply to be considered as an export of service. Let us list them down again: The supplier of the service should be located in…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

54,630 total views, 35 views today

ITC on Outstation Hotel Stays

For businesses, availing accommodation in destinations outside the State where they are registered, is common. This could be for business events, meetings, seminars, employee engagement activities, functions, etc. In the previous tax regime, under Service Tax, there was no concern with regard to ITC on outstation…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

65,358 total views, 19 views today

Tax Liability on Transportation Charges in Invoice

In our previous blogs , we have discussed in detail the liability of tax on transportation services availed from a GTA. Based on the type of person availing the service, the liability of tax falls upon the service receiver or the GTA. In addition to…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

70,769 total views, 50 views today

Services Provided to Overseas Branches under GST

Many businesses in India have branches in different countries of the world. There are scenarios where a business unit in India provides services to its branch in a different country. How will such supplies be treated under GST? Will they be considered as export of…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

50,763 total views, 30 views today

How to Become a Composition Tax Payer under GST

A person whose aggregate turnover does not exceed Rs. 75 Lakhs (special category States except Uttarakhand) and Rs. 1 crore (rest of India) has the option to register as a composition tax payer. This option can be exercised in 3 scenarios: During transition from the…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

54,446 total views, 32 views today

Services on which E-commerce Operator has to Pay Tax

In our blog on e-commerce under GST, we had learnt that certain services will be notified by the GST Council, on supply of which, the tax is liable to be paid by the e-commerce operator and not the person supplying the service. Are you GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

27,792 total views, 25 views today

GST on Supply of Second-Hand Goods- Margin Scheme

Second-hand goods dealers deal in purchase and sale of used goods. These goods might be sold as they are or after minor refurbishing. In this blog, let us understand the impact of GST on the inward and outward supply of used goods by these dealers….

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

56,403 total views, 29 views today

Registration for GTA & Persons Taking GTA Services

In our previous blog, we have learnt about who is liable to pay tax on transportation service taken from a GTA and the eligibility of input credit on the tax paid. In this blog, we will understand whether a GTA and the recipient of transport…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

57,853 total views, 26 views today