Taxable person under GST is anyone who has registered for GST tax or needs to be registered for GST. There are different criteria’s such as business activity, turnover, or transactions which has been specified under the GST Act. Each of these details are compulsory for the person who is registered under GST. Any person who has VAT, Service Tax, or Central Excise on the date of GST will be taxable ….
GST Laws in India state that all those who have registered under GST will have to maintain all the records and accounts in a specified manner. GST records retention has to be for a period of 6 months. Here is a list of all the records which one has to maintain under the GST: Place of Business Under GST the ‘place of business’ includes: Place where business if ordinarily ….
The GST is a comprehensive indirect tax which is going to be levied on manufacture, sale and consumption of goods and services. The Central Government has brought this act. It will replace all the indirect taxes which are levied from all the points, manufacturing to consumption. GST is considered a game changer and is being implemented to make the life of people easier. The GST not only helps end ….
In this basics of GST series article, we are going to discuss in depth about various types of GST taxes and how there implementation would be playing a role. IN GST tax, the tax base will change from origin to place of consumption. Now the imports or end use will have to pay the tax and exports as well as production will be free from any tax. Under current situation, ….