State Goods and Service Tax (SGST) SGST, which stands for State Goods and Service Tax, signifies the imposition of tax by the state government on the exchange of goods and services. The revenue amassed through SGST finds its way back into the state’s coffers. This implies that SGST is specifically concerned with the taxation of … Continue reading What is SGST?
Author: Editorial Staff
What is the reverse charge mechanism under the Indian GST
The reverse charge mechanism (RCM) under the Indian Goods and Services Tax (GST) refers to a provision in the GST law where the recipient of goods or services is responsible for paying the GST, instead of the supplier. In such cases, the recipient is considered as a taxable person under the GST law and is … Continue reading What is the reverse charge mechanism under the Indian GST
Explain the time of supply under Indian GST
The time of supply of goods and services under GST is determined based on the date of issuance of invoice or payment, whichever is earlier. If the invoice is issued within the prescribed period, the supply is deemed to have taken place on the date of issuance of the invoice. If the invoice is not … Continue reading Explain the time of supply under Indian GST
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What is OIDAR under GST?
In the contemporary realm, the proliferation of online media and services has achieved nothing short of the extraordinary. The world has borne witness to the remarkable prowess and seamless practicality of digital platforms, particularly during the lockdown, where sectors such as advertising, media, education, and gaming stood out with exponential growth. This surge has transcended … Continue reading What is OIDAR under GST?
Resolving Pending GST Disputes — A Call to Action
The Goods and Services Tax (GST), a cornerstone of India’s economic reform, aimed to streamline the nation’s indirect tax structure, fostering a unified marketplace for goods and services. Yet, its success hinges on an effective dispute resolution system, a crucial element for minimizing litigation costs while ensuring efficient dispute resolution. Disputes under GST often arise … Continue reading Resolving Pending GST Disputes — A Call to Action
Place of Supply of Goods Under Indian GST — Many Possibility
As we delve into the realm of taxation, the pivotal concept of Goods and Services Tax (GST) reveals itself as a destination-oriented levy / Tax. Within this framework, the notion of “Place of Supply” assumes paramount significance. But what exactly do we mean by the “Place of Supply”? Within the GST framework, the “Place of … Continue reading Place of Supply of Goods Under Indian GST — Many Possibility
GST Rate on Ethanol Reduced from 18% to 5% by Centre
The recent decision by the central government to slash the GST rate on ethanol from 18% to a mere 5% marks a pivotal step in driving the Ethanol Blended Petrol (EBP) Program. This strategic move was underlined by Rameswar Teli, the Minister of State for Petroleum and Natural Gas, in response to a parliamentary query. … Continue reading GST Rate on Ethanol Reduced from 18% to 5% by Centre
Arrests within the realm of GST enforcement still linger in a zone of uncertainty.
At the core of taxation lies the well-being of the populace. While indirect tax laws primarily aim at recovering revenue and imposing fines, they also grant the authorities the power to take stringent actions, including making arrests, against those who exploit the provisions of these laws. The ability to arrest an individual traces its origins … Continue reading Arrests within the realm of GST enforcement still linger in a zone of uncertainty.
Dual GST — A Discussion
The Dual GST Approach Crafting a destination-based Goods and Services Tax (GST) system presents intricate challenges in a country like India, where the authority to tax domestic trade is divided between the state and central governments. Implementing a conventional nationwide GST without undermining state autonomy is unfeasible. This dilemma is resolved through India’s adoption of … Continue reading Dual GST — A Discussion