Category: GST Fundamentals

Transport of Goods without Invoice under GST

Under GST, transport of goods should be accompanied by a ‘Tax Invoice’ or ‘Bill of Supply’. When a registered dealer supplies taxable goods, Tax Invoice should be issued and when the dealer supplies exempted goods, Bill of Supply is to be issued. A composition tax…

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Get ready for GST with Tally.ERP 9 Release 6

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Activities Which Are Not Supply under GST

Supply of goods or services is the taxable event under GST. In our blog on supply under GST, we have learnt about the activities which are considered as supply under GST. In this blog, let us understand the activities which are not supply under GST…

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Get ready for GST with Tally.ERP 9 Release 6

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Difference Between Nil Rated and Zero Rated, Non-taxable and Exempt Supplies

Under GST, there is a lot of confusion about the difference between nil rated and zero rated supplies, as well as the difference between non-taxable and exempt supplies. While the end result of all these supplies is the same, i.e. GST is not charged on…

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Get ready for GST with Tally.ERP 9 Release 6

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How to Search Whether Supplier is Composition Dealer

Persons whose turnover does not exceed Rs. 50 Lakhs (in special category States except Uttarakhand) and Rs. 75 Lakhs (in rest of India) have the option to register as composition dealers. Composition dealers cannot charge tax on their outward supplies and hence, persons purchasing from…

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Get ready for GST with Tally.ERP 9 Release 6

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Valuation of Supply Between Principal and Agent

Under erstwhile VAT regime, the term ‘Dealer’ who was required to register on the basis of turnover of sales, included an agent who carries on the business of buying, selling, supplying or distributing goods on behalf of any principal. This was prevalent in most of…

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Get ready for GST with Tally.ERP 9 Release 6

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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…

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Get ready for GST with Tally.ERP 9 Release 6

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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…

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Get ready for GST with Tally.ERP 9 Release 6

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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

11,746 total views, 102 views today