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Complete procedure to GST registration

The procedure to register under GST is made simple. As per me compared to earlier laws, registration under GST is simplest. I have tried to cover the registration provision of CGST ACT, 2017 as well as Registration rules along with application rules to provide a guide on registering your busin... Click to read full article

Pulkit Sharma 22/04/2017 under CGST-Act , GST-Guide , GST-Registration

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Point of taxation and time of supply

Point of taxation under GST is at the time of supply of goods or services or both. Liability to pay tax arises at the time of supply of goods or services or both. It is very important to understand concept of time of supply to compute the liability of output tax. What is time of supply in G... Click to read full article

Pulkit Sharma 27/05/2017 under GST-Guide , GST-compliance , GST-Basics , GST-Tax , GST-Invoice , GST-Records

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All about Input Tax Credit

To avoid cascading effect governments all over the world provide input tax credit. Under GST also input tax credit is available which can be utilised to pay against tax liability of output tax. Before proceeding to input tax credit provisions, first understand some terms and logic behind input... Click to read full article

Pulkit Sharma 18/05/2017 under GST-Input , GST-Guide , GST-Tax , GST-Rules

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Guide on Goods and Service Tax (GST) for beginners

This article is a basic guide on Goods and Service Tax (GST) for beginners, which will be further improved from time to time. The purpose of this guide is to explain GST in a simplified manner and linking the useful information that every tax payer must know. Goods and Service Tax (GST) is... Click to read full article

Pulkit Sharma 08/05/2017 under GST-Basics , GST-Guide

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Search HSN code and HS description of a product with explanation

Search with HSN Code HSN Code HS Description GST - Tax Rate Result HSN or HS Code or Harmonized System (HS) is an effort to classify traded products into a common internati... Click to read full article

Pulkit Sharma 06/05/2017 under GST-Guide , GST-Rules , GST-HSN , GST-Basics

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GST on online advertisements and impact on website publishers and bloggers

Every website publisher or a blogger makes money online through advertisements or selling E-books or through affiliate marketing. Goods and services tax or GST has specifically and separately made provisions for E-commerce industry. GST has made compulsory registration for E-commerce operators... Click to read full article

Pulkit Sharma 02/05/2017 under GST-Ecommerce , GST-Guide , GST-Tax , GST-Basics , GST-advertisements

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Complete guide on online sellers on E-commerce platforms under GST

Most of the E-commerce operators or E-commerce platforms such as Flipkart, Amazon, Snapdeal etc. are making loss on their operations, instead sellers who sell online using these platform services are profitable. Selling online is fast catching business, as per various studies most of the retai... Click to read full article

Pulkit Sharma 01/05/2017 under GST-Guide , GST-Registration , GST-Basics , CGST-Act , GST-Retail , GST-Ecommerce

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Complete guide on E-Commerce under GST

Electronic Commerce or E-Commerce is defined under section 2(44) of CGST Act, 2017 as the supply of goods or services or both, including digital products over digital or electronic network. Electronic Commerce Operator or E-Commerce operator is defined as any person who owns, operates or manag... Click to read full article

Pulkit Sharma 30/04/2017 under CGST-Act , GST-Ecommerce , GST-Guide

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GST on Job-works and provisions applicable to job-works

Goods and Service Tax (GST) is a tax levied on goods and services supplied. Job-work and job-worker is defined by section 2(68) as, any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accord... Click to read full article

Pulkit Sharma 29/04/2017 under CGST-Act , GST-Guide , GST-Jobworks , GST-Basics

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How to calculate the taxable value for a Tax Invoice under GST?

Calculating the taxable value has always been the crucial and most important step in arriving at the tax liability. As a tax payer, you must have questions such as: How to calculate taxable value, gross value or net value to calculate taxes such as SGST, CGST or IGSCT? Trade discount form... Click to read full article

Pulkit Sharma 27/04/2017 under CGST-Act , GST-Guide , GST-Valuation , GST-Basics

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Scope for Chartered Accountants, Cost Accountants and Tax consultants under Goods and Service Tax ( GST )

As a chartered accountant, the first question that comes to my mind is how beneficial the GST will be for my practice. Its not just me but every CA, CWA or tax consultant has same state of mind. Whether GST will have a positive or negative impact on constants earnings? Before going to provi... Click to read full article

Pulkit Sharma 26/04/2017 under GST-Guide , GST-News , GST-Experts , GST-Practice

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Accounts, records and audit under GST

Every registered person is required to keep accounting books up to 72 months the due date of filing annual return for a particular year. For example, for the financial year 2017-18, accounting records must be kept up to December, 2024. Reason being 72 months from due date of filing the annual ... Click to read full article

Pulkit Sharma 26/04/2017 under GST-Accounting , GST-Guide , GST-Records , GST-Audit