What is GST Council and who are the members

GST council In India, the government has formed a GST council to govern the rules of the Goods and Services Tax. It is basically a key decision-making body that will take all important decisions related to the GST. This council dictates tax rate, tax exempted, the due date of forms, tax laws, and tax deadlines, keeping in mind special rates [...]

New GST Return Format – Sahaj and Sugam for small taxpayer

On July, 21st 2018, in the 28th GST Council Meet the new and simple GST Return filing system was introduced. Sahaj and Sugam are the two new format introduced. These new formats were introduced to benefit the taxpayers with turnover below 5crs. The number of these taxpayers is nearly 90%. Benefits of Sahaj and Sugam The small taxpayers with turnover less [...]

HSN Code /SAC Code List and GST Rate HSN is essentially a commodity description and Coding System . It is a products nomenclature system. Let's look at the HSN Code in detail

HSN CODE FINDER TOOL   What is the HSN Code? HSN Stands for Harmonized System Nomenclature. The internationally adopted system of commodity description and product nomenclature system developed by the World Customs Organization came into existence in the year 1988. Under the taxation system of GST,  the goods and services transacted in India are either classified under the HSN Code [...]

Full form of GST In the GST regime, it become more important to know each and every things about it along with GST full form. Here, in this article, we will enlighten you about the meaning and importance of GST.

GST full form is Goods and service tax. Before going further about Goods and services tax, let's have a look at how tax works in India. In any of the country, the government needs money for its proper functioning and taxes are a major source of revenue for a government. Thus, the taxes collected by the government are basically spent [...]

GST Penalty, Offences, and Appeals The implementation of the Goods and Services Tax comes with rules and regulations. Non-compliance with the same could lead to the imposition of

Overview The implementation of the  GST tax regime has been a welcome change to the way taxes are levied on value addition for delivery of goods and services. In order to comply with the new taxation structure, a business has to register GST number also called GSTIN, file GST returns,  and maintain a high GST compliance rating. Non-Compliance with any of the [...]