GST on gold in various forms is discussed at length in this article. GST subsumed VAT, service tax, excise duty and several other indirect taxes charged on domestic transactions. Tax on the making charges on gold jewellery was introduced under GST. On the other hand, basic customs duty continues to be collected on the import of gold from other countries and the levy of IGST.Latest Updates23rd July 2024*In the Union Budget 2024, the Finance Minister announced to reduce the custom duty on import of Gold by 9%.Type of Custom Duty/ RatesGold Bar and FindingsGold DoreOld NewOldNewBasic Custom Duty (BCD)10%5%10%5%Agriculture Infrastructure and Development Cess(AIDC)5%1%4.35%0.35%Total15%6%14.35%5.35%*This will come into force once notified by the CBIC.What is GST on Gold?Gold bars or gold jewellery fall within the definition of ‘Goods’ as per the GST law. Under Section 7 of the CGST Act, the supply of gold (without any job work) is considered the supply of goods. GST Rates on Gold with HSN Code as follows-ParticularsHSN CodeGST Rate(1) Precious stones (other than diamonds) and semi-precious stones, whether or not worked or graded but not strung, mounted or set(2) Ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport (includes synthetic or reconstructed stones, apart from unworked or simply sawn or roughly shaped)7103, 71040.25%Diamond, gold, pearls, silver, or articles of jewellery of silver or gold, and so on, including synthetic or reconstructed stones, unworked or simply sawn or roughly shaped7101, 7102, 7106, 7107, 7108, 7109, 7111, 7113, 7114, 7116, 71183%Job work in relation to cut and polished diamonds, plain or studded jewellery of gold, silver and so on99881.5%GST rates on gold purchase and GST on gold makingAs per Section 8 of the CGST Act, selling gold ornaments or jewellery to the common man is a composite supply of goods and services.

GST on health insurance has been a much-talked topic, even during the 48th GST Council meeting or now when the 54th GST Council Meeting is going to be held on 9th September 2024. Initially, when health and life insurance premiums were brought under the purview of an 18% GST slab rate, it was widely protested because premiums in the pre-GST era were subject to a 15% service tax. The article covers the latest GST rate on health insurance. Can we claim GST input on health insurance? Input Tax Credit (ITC) on employees' health insurance under GST.What is GST on Health Insurance?GST on health insurance premiums is applicable at the time of the sale or renewal. Simply put, the premium paid on a medical or health insurance policy will attract GST. The GST rate on health insurance premiums is 18% under the HSN code 997133, like any other insurance scheme.However, there are exemptions given for certain government-run health insurance schemes for economically weaker sections of society.

Various television types are liable for Goods and Services Tax (GST). The implementation of GST and the subsequent subsuming of all other tax regimes have impacted the television industry and its components in different ways. GST on TV has impacted both manufacturers as well as consumers in India.In this article:GST on TVPrice of TV before and under GSTTV GST rate and HSN codeFAQs to address common concernsGST on the sale of TVUnder GST, sale of television or sale of TV is taxed as any other electronic item. Section 7 states that any supply will be covered under the scope of GST unless specifically exempted. Hence, sale or leasing of TV is subject to GST at rates discussed in the next section.

The rate of GST on mobile phones and accessories were increased to 18% from 12% with effect from 1st April 2020 at the 39th GST Council meeting. Budget 2023 also proposed an increase in import duty on the materials used in making of phones. Such measures increase the prices of mobile phones. In this article, we primarily explain the GST rate on mobile phones, GST on mobile accessories, import impact, whether we can claim GST on mobile phones as input tax credit, and more.How did the price of mobile phones change due to GST?Before GST, excise and VAT were charged on mobile phones. The VAT rates varied from state to state, so it was difficult to set a uniform price for the mobile phone.

e-Invoicing under GST denotes electronic invoicing defined by the GST law. Just like how a GST-registered business uses an e-way bill while transporting goods from one place to another. Similarly, certain notified GST-registered businesses must generate e invoice for Business-to-Business (B2B) transactions.Clear is officially GSTN-approved IRP. More than 3,000 large enterprises trust the Clear e-Invoicing solution for unified e-invoicing and e-way bill compliance journey. We provide the best-in-class e-invoicing solution for businesses of any scale and industry.

GST login on the GST portal is crucial for every taxpayer to file GST returns, claim refunds, or reply to notices. In this article, let’s understand the GST login portal, services available before and after GST login, steps to obtain GST login and steps to log in to the GST portal successfully.What is the GST portal?GST portal is a PAN-India government website for GST compliance. The GST government website or portal is hosted at https://www.gst.gov.in/. The government portal for GST is a website where a taxpayer can carry out all the compliance activities under GST before and after GST login.They can take actions such as GST registration, return filing, payment of taxes, application for a refund, etc., on the GST login portal, explained in further sections of this article.What is the GST e-way bill system?e-Way bill system or the e-way bill portal is accessible at https://ewaybillgst.gov.in/. An electronic way bill or e-way bill refers to a document that transporters must carry while moving goods from one place to another where the consignment value exceeds Rs.50,000.

GSTR-9 or the annual return can only be submitted or filed online. However, a majority of the details can be filled offline by using an offline utility provided by the Goods and Services Tax Network (GSTN). Further, those taxpayers who have to enter more than 500 records per table in Table 17 and 18 of the Form GSTR-9 will not be able to enter such details online. They will compulsorily have to use the offline utility to do so.An easier and convenient way to file GSTR-9 without visiting any other portal is by using Clear GST solution.Latest UpdateStarting FY 2023-24 from 15th October 2024, GST portal auto-populates eligible ITC for domestic supplies (excluding reverse charge and ITC on imports) from Table 3(I) of GSTR-2B to Table 8A of GSTR-9. Further, a validation utility will be executed progressively (for validation by taxpayers) to complete the auto population of GSTR-9 from GSTR-2B from April 2023 till March 2024.Prerequisites to use offline tool for GSTR-9The offline utility can only be used on a desktop/laptop and not on a mobile device.

e-Commerce has grown tremendously in India as more users are buying and selling items online, thanks to smartphones and internet connectivity. Under earlier tax laws, there was no clear treatment of online sales. GST has proper rules in place for e-commerce portals such as Amazon and their sellers.In this article, we will discuss the followingHow does an e-commerce sale work?Place of supplyInvoicinge-Commerce benefits both customers and sellersHow does an e-commerce sale work?Sellers register on the marketplace/e-commerce platforms such as Amazon. They then takes pictures of products and uploads along with descriptions and pricesBuyer orders the productIn most cases, items are shipped by the seller directly or through the e-commerce operator’s logistics centree-Commerce operator charges a subscription fees/commission on the sale and assists sellers in everything from the photography of goods to delivery and paymentPlace of supplyThe Place of supply of goods under GST defines whether the transaction will be counted as intra-state or inter-state, and accordingly levy of SGST, CGST & IGST will be determined. Wrong determination of place of supply will result in tax collection by the wrong state. For example, inter-state supply is wrongly treated as intra-state supply and CGST & SGST are filled instead of IGST.

This article discusses how to track GST payment status and other problems you may face while filing. For a step-by-step guide on how to pay GST online, please visit our article.Steps to track GST payment status online before logging inStep 1- Visit the GST portal.To track payment, you do not have to login. On the Dashboard, go to the Services tab>>Payments>>Track Payment Status.Step 2- Enter your GSTIN and CPIN. Upon entering these details, you will be asked to enter the captcha code and proceed. Click ‘Track Status’.The payment status is shown as Paid or Not Paid. Step 3- The status of the challan gets displayed for your further action.Case 1: If the status is displayed as ‘PAID’In this case, the ‘View receipt’ button gets enabled, as shown below.The taxpayer can view and download the receipt, after clicking on the ‘View receipt’ button.You may click on the ‘Download’ button to download the receipt.Case 2: If status is displayed as ‘NOT PAID’.You can save an offline copy by clicking on the ‘Download’ button.Steps to track GST payment status online after logging inStep 1- Login to the GST portal.Step 2- Click on the ‘Services’ tab > ‘Payments’ section > ‘Challan History’ option.Step 3- Search by CPIN or by date.The list of challans and payment status gets displayed.Steps to Follow if GST Payment FailsIf the payment is ‘Failed / Not paid’ and the mode selected is e-payment, then the taxpayer can click on the ‘View Challan’ button, select the relevant bank, accept the terms and conditions and click on ‘Make Payment’ in order to make the payment again.Read more - How to Track GST Refund Status Online #inlineCTA-choosePlan{ display: flex; flex-direction: row; align-items: flex-start; flex-wrap: wrap; padding: 24px 0; border-top: 1px solid #C4C4C4; } #inlineCTAimage{ padding-right: 20px; } #CTAbody{ flex: 1 1 55%; } #inlineCTAhead{ color: #314259; font-size: 20px; font-weight: 700; padding-bottom: 8px; } #inlineCTAcontent{ font-size: 16px; color: #9092A3; font-weight: 400; } #inlineCTAbutton{ padding: 8px 24px; color: #1678FB; font-size: 16px; background-color: #FFF; border: 1px solid #1678FB; border-radius: 8px; font-weight: 700; text-decoration: none; 8px 0 10px; } #inlineCTAbutton:hover{ background-color: #1678FB; color: #fff; box-shadow: 4px 5px 10px rgb(0 0 0 / 14%); } @media only screen and (max- 600px){ #full-width-mob, #inlineCTAbutton{ 100%; } #inlineCTAhead { font-size: 19px; padding: 8px 0; } #CTAbody{ flex: 1 1 100%; } } India’s Fastest and Most Advanced 2B MatchingMaximise ITC claims, use smart validations to correct your data and complete 2B matching in <1 minuteStart Matching.

In this article, know the steps to manage already generated e-way bills (EWBs)/Consolidated e-way bills.Process to update Vehicle Number on EWBsVehicle Number is an optional field when generating the part-A of the e-Way Bill. But, e-Way Bill without a vehicle number is not valid for movement of goods. The e-way bill portal provides an option of updating vehicle number on the document. This option can be used in the following cases:Vehicle Number was not entered on generation of the e-Way Bill ORThe goods are shifted to another vehicle/conveyance during transit due to break down or transshipment.This option can be used many times for an e-way bill within its validity period. Note that no other details of e-way bills can be edited.