GST - Goods and Services Tax

In our last article we have discussed most of the things about e-way bill under GST law and how to consolidate more than one e-way bill to transport in one vehicle. In this article we have discussed how long the e-way bill is legally valid. An e-way bill or a consolidated e-way bill generated under this rule shall be valid for the period as mentioned in column (3) of the … [Read more...] about How long e-way bill is valid under GST law

E-Way bill system has been introduced to monitor and control the movement of goods to/from a state in order to check tax evasion. E-Way bill stands for electronic way bill. It’s a document generated electronically on the GST portal evidencing movement of goods giving details relating to the shipment of a consignment of goods.  You need to generate it prior to the … [Read more...] about E-Way Bill under GST regime – All you need to know

As per GST law, a registered taxable person is required to issue a tax invoice to the recipient for supply of goods or services or both. After issuing tax invoice under GST, there can be a situation where the taxable value has either exceeded the actual value or is found to be less. In such a situation, the taxpayer is required to either issue a credit or debit note under GST … [Read more...] about When Debit and Credit note is issued in GST

In the following cases, a delivery challan in GST may be issued by the consigner instead of tax invoice; Supply of liquid gas where the quantity at the time of removal from the place of business of the supplier is not known,Transportation of goods for job workTransportation of goods for reasons other than by way of supply GST Delivery challan should always be prepared in … [Read more...] about When Delivery challan can be issued in GST instead of tax invoice

In goods and services tax law, a registered person opting for composition levy should not collect GST from the recipient. Similarly, a registered person supplying exempted goods or services or both is not required to charge GST to recipients. As these suppliers do not charge tax, recipient should not expect tax invoice from them. Therefore, in the following two cases, bill of … [Read more...] about When to issue Bill of supply under GST law

After GST registration, applicant receives a certificate in form GST REG-06. In this certificate, you will find the effective date of registration different from the date on which it is granted by the government. Effective date is generally picked up from the application that you have filled up while applying for registration. According to your application, this will be the … [Read more...] about When to issue revised tax invoices and file first return in GST

A person liable for registration under GST should obtain a single registration from the state or union territories from where supply is made. Which means, a person should obtain a single registration for multiple factories, godowns, sales offices or branches within the state or union territory if total aggregate turnover of the business in India crosses the aggregate turnover … [Read more...] about Can multiple registrations be taken for your business under GST law

After taking GST registration, you may require to change certain details provided to the government such as place of business, ownership details, addition or deletion of business details, change in trade name, changes in bank account details, modification of email ID and mobile numbers etc. Government India allows you to change all the details that you have provided at the time … [Read more...] about How amendment or correction in GST registration is done in India

Goods and Services Tax came into effect on 1st July 2017 in India. In short it’s referred as GST. It's a destination based tax levied on every value addition. In simpler terms, goods and services tax is levied on the supply of goods and services. GST has subsumed almost all the indirect taxes in India. In this article we will discuss; when GST registration is mandatory, what … [Read more...] about GST registration in India – all you need to know

You can cancel GST registration online if after registration, goods and services tax act is not applicable or the business is closing down. Before applying for cancellation of GST number, its suggested to know the procedure and applicable provision first. Cancellation will mean that goods and services tax provisions are not applicable and your business will not be liable to pay … [Read more...] about When and How to cancel GST registration online in India