Informative Articles on Legal Licenses
Under GST, there are 21 offences. These have been categorized into heads as follows for ease of understanding: False or incorrect invoices: Any goods or services that are provided by a taxable person without an invoice or with a fraudulent invoice. He violates the regulations of the GST by issuing any invoice or bill without …
The majority of us are curious and perplexed about the Goods and Services Tax (GST). Even before the GST regulation went into effect a few months ago, many business owners were scrambling to complete the necessary paperwork in order to comply with the new taxation system. Is it necessary for a sole proprietorship to have …
To make the process of managing GST easier, the government also introduced some tools for the officials, businesses and consultants. The GST Prime is a tool by the National Informatics Centre (NIC) to provide complete assistance to the tax administrators of the state/center to analyze and monitor the tax collection and compliance in their jurisdiction. …
The GST rate slabs are decided by the GST Council. The GST Council revises the rate slab of goods and services periodically. The GST rates are usually high for luxury supplies and low for essential needs. In India GST rate for various goods and services is divided into four slabs: they are 5% GST, 12% …
The Goods and Services Tax Act of 2017 was passed by the Indian Parliament, bringing about the foundation of the Goods and Services Tax (GST) in India. It is a utilization put together or backhanded added charge with respect to the inventory of labor and products. It is forced at each phase of the assembling …