Category GST

Concept of Input Tax credit-PART I

Under the Indirect taxes mechanism, the taxes are levied at every stage of value addition. This is applicable in case of supply of goods as well as services. Thus it is important to understand that tax and the value addition…

Composite and Mixed Supply under GST

The determination of taxability of transactions, involving multiple goods or services or a combination of goods and services has always been a challenging aspect under the indirect taxes. As far as the Pre-GST regime was concerned, the taxable events like”…

Impact of GST on FMCG sector in India

No doubt, GST has bought several non-tax payers into the Tax bracket. But, what about some genuine and necessary sectors which have been affected because of the GST? It has vitalized some FMCG companies, but what about the rest? More…

GST Annual Return Form GSTR-9

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under…

Registration under GST Act

1. Section 25- Procedure for Registration a. Time Limit- Every person who is liable to be registered under section 22 or Section 24 shall apply for registration within 30 days from the date on which he becomes liable to registration. b.…
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