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GST Blog

E-way bills required under GST for the movement of goods across the country was expected to kick in on 1st February, 2018 but is still on a trial period. There are two ways in which you can generate your e-way bill – through the e-way bills portal and via SMS.   Here is a step-by-step guide on how to generate e-way bills on the e-way bill portal....

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E-way bill (EWB), currently in the trial period, is going to be implemented for the movement of goods around the country and is expected to bring some relief to the logistics industry. What is an E-way bill?   It is an electronic bill required under the GST regime for all movement of goods, both inter and intra-state, above the value of Rs. 50,000. A consolidated e-way bill is applicable...

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Under the current GST regime, every registered person who is doing transportation of goods valuing exceeding Indian rupee fifty thousand, or in case of an inward supply from an unregistered person with value exceeding the aforementioned limit is required to generate E-Way bill. While generating the E-way bill a person is required to fill certain details the details required includes the consigner details, one important...

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The biggest plus point of GST regime is that it has done away with cumbersome paperwork and bureaucratic interference by introducing the seamless online system of filing tax returns. A robust system ensures that taxes are calculated accurately, laws are being adhered to and timeliness is being maintained. However, many times businesses end up paying excess tax due to a variety of reasons including, Export...

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GST E-way bill is an electronically generated bill which is getting introduced from 1st February ’18 across the country to enable smooth inter-state as well as intra-state supply of goods. It will be mandatory for all the suppliers to generate E-way bill which will facilitate movement of goods, in case declared value of good is more than Rs. 50,000. This bill can be generated through...

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The term “Input Tax Credit” assumes significant importance in the arena of indirect taxation. Let us zero in on our analysis on this topic under GST regime.   What is Input Tax? "Input tax" means the GST Taxes (CGST, SGST, IGST) charged on any supply of goods or services or both made to a registered person in the course or furtherance of his business and includes such tax...

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As the pan-India wave of GST is about to hit us this July, the entire nation is gearing up to embrace the colossal tide. Even as the corporate Tycoons and Moguls are restructuring and redefining their business processes in tune with the GST mould, the micro, small and medium organizations are putting on their best efforts to swim in the sea of rules and regulations...

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At an informal business meet, our senior addressed to a group of businessmen – “You all are well aware that GST comprises of IGST, CGST and SGST taxes. A simple question: Can anyone tell when or at what moment will you have to pay the taxes?”   As many floundered for words, few of them gave hazy, even humorous, replies – After sale of goods, after providing...

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As the GST is few months away from its much awaited implementation, the transitional provisions assume special importance for all the concerned stakeholders. Transitional provisions, in general terms, are those rules, methods or procedures that will enable the stakeholders to switch over from the current Indirect Tax regime to the GST regime. A detailed analysis of certain provisions under Revised GST Model and their impact...

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.table > thead{background:#70ad47; color:#fff;}.left-align{text-align:left; background:#70ad47; color:#fff;}.blog p, .blog h4{margin:15px 0 15px 0;}.blog ul, .blog li {margin:15px 0 15px 10px; font-size:15px; list-style-position: outside;} Registration Process In Part III, we will discuss the complete procedure for registration. A person, who is liable for registration, has to apply for registration within 30 days from the date on which he becomes liable to register. Hence, For New Registration: Main features for GST Registration: To...

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