Key Takeaways GST is a destination-based tax levied in the state where either goods or services are ultimately consumed. Under this framework, the applicable taxes can include CGST, SGST, UTGST and IGST. For accurate determination of the correct type of tax liability, it is essential to assess the nature of the supply, which can either […]
Key Takeaways Goods and Services Tax (GST) is an indirect tax applied to the supply of goods and services, which simplifies the tax system by consolidating multiple indirect taxes into a single tax. The hotel industry can now benefit from standardised tax rates and better utilisation of input tax credits. E-commerce operators and online platforms […]
Key Takeaways With the implementation of GST in 2017, India witnessed a shift in the indirect taxation system. However, it was a challenge for small businesses to understand the complexities of the new regulations. Therefore, to streamline the compliance process, the GST Suvidha Kendra was established. These centres provide guidance and assistance to individuals and […]
Key Takeaways In business transactions, invoices are essential for recording the transfer of goods and services. While the standard commercial invoice is well-known, a different document commonly utilised in the initial phases is the proforma invoice. In this blog, you will learn the concept of proforma invoice under GST law along with other important details. […]
by Key Takeaways A company that periodically conducts business in a state other than its regular base is referred to as a Casual Taxable Person (CTP). This guide covers the tax laws, registration and ways how to manage Goods and Services Tax as a CTP. It is essential to make businesses aware of what to do […]
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