Transitioning under the GST Regime – From a Regular Dealer to the Composition Scheme The GST regime calls for registration – that is the first step in transitioning towards a single unified tax system in India. But first we must understand the threshold limits for liability under the GST regime – are you aware that…

Transitioning with the GST is a great move for any dealer, however, are you aware of how to register under the GST regime? We have provided a snapshot of all the essential information required for GST registration both for an existing dealer as well as for new businesses, as well as the form filings that…

This article shall provide you with an insight into amending GST registration, applying for cancellation of registration and revoking the registration in case of its cancellation. GST Registration Basics – All You Need To Know 1. Amending the GST Registration – Supposing there is a change in the details that you have put in your…

The GST Regime has Introduced Interesting Concepts of Setting off Tax Liability Against the Input Tax Credit Team – Under the GST regime, every time a transaction takes place, it has a dual effect as follows – Central GST (CGST) State GST (SGST) Union Territory GST (UTGST) Integrated GST (IGST) In case of a transaction…

Availing the Input Tax Credit (ITC) is a boon in the GST regime. We have put together a checklist that can help you understand how to avail of this credit to the best of your benefit. Of course, you need to meet certain conditions first. Basics For Availing the GST Input Tax Credit: VAT –…

We have previously discussed situations and examples where one can avail of Input Tax Credit (ITC). However, did you know there are situations where ITC cannot be availed of? In this post, we aim to educate you on the scenarios and situations where a businessman or dealer cannot avail of Input Tax Credit: Registration – …

Ease of doing business has helped businessmen and dealers to spread out their network. The GST has aimed to bring together the entire country into a single unified marketplace where buying and selling can take place, irrespective of the state of manufacture or supply. Such a distributed system of supply of goods and services paves…

An Input Service Distributor (ISD) is an office of the supplier that allocates goods to various branches of the supplier. This article highlights the manner and method in which Input Tax Credit (ITC) distribution is done and the various conditions applicable for such distribution. Following are the conditions on the basis of which ITC distribution…