GST

Article 269A of constitution mandates that import of goods or services in India is considered as Inter-state trade. Therefore, import of goods or services is considered as interstate supply and is liable for payment of IGST. IGST on the import of services …

Education is defined as “Education is a process of training and developing the knowledge, skill and character of students by normal schooling.” Taxation of education services is a sensitive issue as it is the basic right of every person to get an …

Rule 138 of CGST Rules define the provisions of the e-Way bill. A registered person needs to generate an e-way bill where the goods need to be moved from one place to another and the value of such goods is more than …

What is Deemed Export? “Deemed Exports” refers to supplies of goods manufactured in India which are notified as deemed exports under Section 147 of the CGST/SGST Act, 2017. It is to be noted that services are not considered as deemed exports. The …

As per section 2(47) of the CGST Act, 2017, a supply is said to be exempt, when it attracts nil rate of duty or is specifically exempted by a notification or kept out of the purview of tax (i.e. a non-GST supply). …

For some persons, it is hard to maintain a fixed place of business due to seasonable nature of their industry. Also, if they have to register as a regular taxable person then they have to file monthly or quarterly return on a …

Mixed Supply A mixed supply is one in which two or more individual supplies of goods or services are made as a single supply but such supply does not constitute as a composite supply. For example, a departmental store makes a package …

What is an e-commerce operator? CGST act defines electronic commerce as – ” Electronic Commerce means the supply of goods or services or both, including digital products over digital or electronic network.” And defines electronic commerce operator as – “Electronic Commerce Operator …

MAT stands for Minimum Alternative Tax. MAT was introduced by the Finance Act, 1987 with effect from Assessment Year 1998-99. Later on, it was withdrawn by the Finance Act, 1990 and reintroduced by Finance Act, 1996 with effect from 01St April 1997. …

What is Input Tax Credit under GST? Input Tax Credit (ITC) means claiming the credit of the GST paid on the purchase of goods and services which are used for the furtherance of the business. ITC is a mechanism to avoid the …