Table of contents: What is a SAC code in GST? Clear structure of SAC Importance of SAC Code for Businesses Application of Service Accounting Codes (SAC) for Real Estate industry SAC code for consultancy services Servicing Accounting Code for transport services Key...
The export of services under GST is treated as zero-rated supplies, meaning that the tax is not levied on the services provided, but businesses can still claim refunds on the input tax credit (ITC). This article explores the intricacies of the export of services under...
Table of contents: Why a Rent Agreement is Needed for GST Registration Key Components of a Valid Rent Agreement How to Draft a Rent Agreement for GST Registration Legal and Compliance Aspects to Consider Common Mistakes to Avoid in Rent Agreements for GST Registration...
Table of contents: Introduction Type of GST Invoices Regular Tax Invoice sample – Download format Bill of Supply – Brief understanding Revised Tax invoice sample – Download format Key elements to consider in a Tax Invoice Conclusion Understanding use...
Table of contents: What is Interstate GST? What is Intrastate GST? Difference between Intrastate and Interstate GST on – Applicability Tax Structure Place of Supply Input Tax Credit Registration Requirements Compliance and Returns Frequency of Filing Returns...
Table of contents: Introduction with common functions Fraud Detection and Prevention The Interplay Between GSTN and the E-Way Bill System Analytics Tools for Government Decision-Making Integration of GSTN with Third-Party Systems Role in Digital Transformation of...
Table of contents: Understanding DRC-01 notice How to respond the notice Common issues leading to issuance Consequences of ignoring the DRC-01 notice How to file response with guidelines Legal framework around DRC-01 Role of DRC-01 in GST Compliances Conclusion The...
Understanding the cascading effect in Goods and Services Tax (GST) is crucial as it addresses a significant issue in the pre-GST tax structure. This article explores the concept in detail, explaining its implications for various stakeholders in the economy. Definition...
Table of contents: Explaining CGTMSE and CGFMU Comparison Loan limits Comparison on Coverage and Guarantee Fees Claim settlement process Comparison on Eligible Enterprises Differences in Application Process Target Audience for Each Scheme Recent Updates Conclusion In...
Table of contents: What is ARN – its role and importance Step-by-step guide to track GST ARN status GST ARN statuses and their meaning Documents Needed for ARN Application Common Mistakes During GST Registration Troubleshooting ARN Tracking Issues How to Resolve...
The GST Council was established in September 2016 as part of the 101st Constitutional Amendment Act, marking a monumental shift in India’s taxation system. Prior to GST, the Indian tax landscape was fragmented, with multiple indirect taxes levied at various levels of...
Table of contents: Overview of the 54th GST Council Meeting Agendas of the Council Meeting Major Decisions from the GST Council Meeting Outcome and Implications of the 54th GST Council Meeting Future Agenda of the GST Council Conclusion The 54th GST Council Meeting...
