Goods and Services Tax (GST) is a tax system that eliminates certain indirect taxes. A single tax is imposed on goods and services from manufacture to consumption. It is the biggest indirect tax reform made recently in India. This article is all about the history of GST with timelines which is very crucial. GST was introduced […]
Brief history of GST with timelines: Goods and Services Tax Read More »
The implementation of the Goods and Services Tax (GST) in India introduced various new concepts to streamline the taxation system. One such concept is the Unique Quantity Code (UQC), which plays a crucial role in standardizing units of measurement for invoicing purposes. In this blog post, we’ll see the significance of UQC under GST and
What is Unique Quantity Code (UQC) under GST? Read More »
Input Tax Credit (ITC) is a crucial component of the Goods and Services Tax (GST) system that allows businesses to offset the taxes paid on inputs against their output tax liability. Claiming ITC not only reduces the tax burden but also improves cash flow and ensures compliance with GST regulations. In this guide, we’ll talk
What is Input Tax Credit: Claim ITC under GST Read More »
The Harmonized System of Nomenclature (HSN) code is a globally recognized system for classifying goods in international trade. It is used to categorize products based on their characteristics and is essential for customs, taxation, and statistical purposes. In this comprehensive guide, we check what HSN code is, their significance, and how they impact businesses. What is
What is HSN code: Harmonized System of Nomenclature Read More »
When Goods and Services Tax (GST) was introduced in July 2017, it aimed to merge various indirect taxes into one to make things simpler for both buyers and sellers. India has different levels of government, so it was hard to have just one tax. For that reason, we have three types of GST: Central Goods
What is IGST: Integrated Goods and Services Tax Read More »
Central Goods and Services Tax is a component of the Goods and Services Tax (GST) scheme in India. It is one of the three taxes levied on the supply of goods and services, alongside State Goods and Services Tax (SGST) and Integrated Goods and Services Tax (IGST). In this comprehensive guide, we’ll crack down the
What is CGST – Central Goods and Services Tax: GST India Read More »
The Goods and Services Tax (GST) regime in India has revolutionized the taxation system, bringing about significant changes in the way goods and services are taxed across the country. One crucial component of GST is the State Goods and Services Tax (SGST), which plays a pivotal role in the taxation structure. In this blog post,
What is SGST – State Goods and Services Tax: Type of GST Read More »
Goods and Services Tax (GST) in India is like a modern makeover for taxes. It’s a unified system introduced in 2017 that simplifies how we tax things we buy and services we use. Imagine it as one tax to rule them all, replacing various indirect taxes and creating a fairer, more straightforward way of handling
Goods and Services Tax: What is GST? | Indirect Tax Law Read More »
Goods and Services Tax Network, a non-governmental entity in India, plays a crucial role in managing the intricate IT system of the Goods and Services Tax portal, aiming to streamline tax processes and establish a unified IT infrastructure for both the Central and State governments. As a non-profit organization, GSTN serves as a dependable tech
What is GSTN: Goods and Services Tax Network Read More »
The Goods and Services Tax is an integral part of tax reforms in many countries around the world, aimed at simplifying and streamlining the indirect tax structure. In this article, we will explore the objectives of GST and how they impact businesses and consumers. What is Goods and Services Tax? The Goods and Services Tax
What are the objectives of GST: Goods and Services Tax Read More »
