GST on Export of Services in India: A Complete Guide
GST on Export of Services in India: A Complete Guide If you offer services to clients located outside India, GST is applied differently compared to domestic transactions. Under GST, these…
GST Registration in India – Documents Required
GST Registration in India – Documents Required Every business must comply with the provisions of the Central Goods and Services Tax Act, 2017 and related GST laws. GST registration helps…
GST Refund: A Comprehensive Step-by-Step Guide
The process of claiming a GST refund involves following a defined procedure, submitting necessary documents, and providing declarations where required. Taxpayers must apply to the GST authorities to request a…
GST on sale of fixed assets
GST on sale of fixed assets
Fixed assets are assets or items purchased for long-term use. Immovable properties such as buildings and land, as well as equipment such as machinery, computers, and so on, may be…
BENEFITS OF GST REGISTRATION
Benefits of GST Registration
GST will significantly boost the government's 'Make in India' initiative by making goods and services produced or provided in India competitive in national and international markets. Furthermore, all imported goods…
Tax benefits on purchase of electric vehicle in India
Tax benefits on purchase of Electric Vehicle in India
Introduction: Over the past decades, the growing concern over climate change, energy independence, and securities of energy supply have accelerated the path to the decarbonization of the transport sector. this…
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How to correct mistakes in GSTR 3B
Introduction Due to unawareness, many taxpayers commit mistakes in GSTR 3B and GSTR 1 while filing the GST Return. In this article, we will discuss “how to correct mistakes in…
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How to correct mistakes in GSTR 1
Filing of GST returns is compulsory for every taxpayer. Despite the passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST…
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How to claim foreign tax credit in India
Foreign Tax Credit (‘FTC’) According to a Ministry of External Affairs report, there are 32 million NRIs and OCIs residing outside India. Many Indian residents migrated abroad to countries like…
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List of Items on which GST ITC is not available
In this article, we have listed as such items, which are not eligible for the input tax credit under GST. But first, we need to understand the term ‘ITC’. ITC…
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Situations of GST refund and process
GST refund is a procedure in which a taxpayer wants to get the amount, which is in excess of the GST liability, refunded to his/her account.