GST Tax Authorities and their powers
by The Goods and Services Tax (GST) is a comprehensive indirect tax that was implemented in …
Tag: Business Regulatory Framework
Types of Assessment & Assessment Procedures
The Goods and Services Tax (GST) is administered by the GST Council, which is a …
Types of GST Returns
Goods and Services Tax (GST) is a tax levied on the supply of goods and …
Apportionment of ITC and Blocked Credit
Apportionment of Input Tax Credit (ITC): Under the GST law, a registered person can claim …
HSN Code and SAC Code
HSN code and SAC code are two important classification systems used in India for the …
Input Tax Credit (ITC), Eligibility and Conditions for taking Input Tax Credit
India’s Goods and Services Tax (GST) introduced in 2017, replaced the previous complex system of …
Payment Voucher, Receipt Voucher, E-way bill
Payment Voucher A payment voucher is a document that is used to record the details …
Tax Invoice, Bill for Supply, Debit Note, Credit Note
Tax Invoice A tax invoice is an important document used in the GST system of …
Composition Scheme and Assessment under Composition Scheme
The composition scheme under GST is a simplified compliance mechanism for small businesses with a …
Exemption from GST
Exemption from GST refers to goods or services which are exempted from the purview of …