GST is the biggest tax reform in India which has tremendously improved the ease of doing business and increasing the taxpayer base in India by including millions of small businesses. The GST law mandates that all persons involved in supply of goods or services or both are required take registration. Registration is mandatory once the … Continue reading REGISTRATION UNDER GST LAW

For the benefit of the taxpayers, the Government of India has established various methods of levy of tax. One of such is the Composition Levy, which has been designed in such a way that it becomes an easy alternative for small taxpayers in India. Through Composition Levy, small taxpayers have a benefit of getting rid … Continue reading COMPOSITION LEVY SCHEME UNDER GST

Under the earlier tax regime, various goods and services were exempted from tax, be it Central Excise levy or Service Tax. The same way, few goods and services have been relieved from the burden of tax by the government under the new GST regime as well. In our previous blogs, we have already discussed that … Continue reading Exemption under GST

Under the pre GST regime era, Section 66B of the Finance Act, 1994, was the charging section for levy of service tax and it specifically provided that service tax is leviable only on those services which were provided or agreed to be provided in the taxable territory, i.e., India except the state of Jammu and … Continue reading WHAT IS A ZERO-RATED SUPPLY?

The taxable event under GST is “supply” of goods or services or both. GST is leviable on every supply of goods or services or both unless otherwise exempted. The applicable rates for goods and services have been notified by the Government. There is no ambiguity for charging particular rate of tax, if the supply of … Continue reading COMPOSITE SUPPLY AND MIXED SUPPLY