What are the conditions for availing the composition scheme? Conditions for Availing the Composition Scheme in GST The Composition Scheme under GST simplifies compliance for small businesses by allowing them to pay tax at a fixed rate on their turnover. However, businesses must meet certain conditions to be eligible. Below are the details: Eligibility and […]
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What is GSTR-3B, and how is it different from GSTR-1? GSTR-3B vs GSTR-1: Key Differences GSTR-3B and GSTR-1 are two of the most crucial returns in the Goods and Services Tax (GST) system in India. Both serve different purposes and are filed at different intervals by registered taxpayers. Let’s break down the key differences between
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How is the place of supply determined for goods? The place of supply is a critical factor in determining the applicability of GST in India. It helps to identify whether the supply is intra-state or inter-state, which, in turn, determines the type of tax that applies (CGST + SGST or IGST). Under the Goods and
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Are there any restrictions on claiming ITC? Input Tax Credit (ITC) is governed by the Goods and Services Tax (GST) laws in India, specifically under the Central Goods and Services Tax Act, 2017 (CGST Act, 2017) and relevant rules. Here is a breakdown of the provisions, restrictions, and landmark cases related to ITC: Provisions for
What is meant by “continuous supply” of goods/services? Continuous Supply of Goods and Services under GST The term “continuous supply” refers to a situation where the supply of goods or services is provided on a recurring basis over a period of time, rather than in a one-time or single transaction. Under GST, continuous supply is
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What is the time of supply for goods? Time of Supply for Goods under GST The time of supply is an important concept in the Goods and Services Tax (GST) regime. It determines when a transaction of supply is considered to have occurred for the purposes of levying GST. The time of supply determines the
Is an e-way bill required for all interstate movements? An e-way bill is generally required for interstate movements of goods under GST when certain conditions are met, primarily when the value of goods exceeds Rs. 50,000. However, there are some exceptions and specific circumstances where an e-way bill may not be necessary for interstate movement.
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What is the process of appealing against a GST decision? The Goods and Services Tax (GST) Act, 2017, provides a structured framework for taxpayers to appeal against decisions or orders passed by GST authorities. The appellate mechanism ensures fairness and accountability in tax administration. Relevant Provisions in the GST Act Steps in the GST Appeals
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How is an unjustified tax demand challenged? An unjustified tax demand under GST or any tax law can be contested through established mechanisms provided under the CGST Act, 2017, and the Indian Constitution. Taxpayers can challenge such demands by appealing to higher authorities or courts, emphasizing procedural errors, lack of evidence, or wrongful application of
Who is required to register under GST? The Goods and Services Tax (GST) has streamlined the taxation system for the food and hospitality sector by replacing multiple indirect taxes like VAT, service tax, and luxury tax. Its implementation has introduced transparency and uniformity, but it also presents unique challenges for businesses in this sector. Constitutional
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