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GST Guide : Introduction, Compliance, Updates and More
Are you Looking to Learn all Things GST? You're in the right space to start!
Discover everything you need to know about GST in India—from its introduction and core concepts to seamless compliance and the latest updates. This comprehensive GST guide simplifies complex tax regulations, offers step-by-step compliance tips, and ensures you stay updated with new GST rules and amendments, helping businesses and individuals avoid penalties and maximise benefits.
Introduction to GST
On July 1st, 2017, India moved to a new tax system – one that aims at converting the entire nation into a single market. If you are new to GST and keen to know how this new tax will affect you and your business, this section will help you understand the basics of the ‘Goods and Services Tax’.
- What is the Goods and Services Tax (GST)?
- Indirect taxes replaced by GST
- Advantages and disadvantages of GST
- CGST, SGST, IGST
- Taxable person under GST
- Basics about GST registration
- GSTIN
- GST-compliant invoice/bill
- Reverse Charge
- What happens to mixed supply and composite supply under GST?
- Continuous supply
- News & Announcements
GST Rates & HSN Codes
The HSN Code is a universal system of product/service nomenclature that has been used since 1988. It is important to use the correct HSN codes for your product and tax it at the correct rate. Read more if you wish to know your product’s HSN codes and GST rate.
GST Returns
Filing tax returns on time is an important part of being GST-compliant. Learn more about which returns your business needs to file, and how to file them on time.
- What are the different types of GST returns?
- Which returns should your business file?
- Details about GST Returns:
GST Registration
We all know that registering for GST is mandatory, but does your business even need a GST registration? What would be the pros and cons of obtaining a GST registration and how does one obtain it? This section gives you a clear understanding of the registration process and how to go about it.
- Meaning of GST Registration
- Consent Letter GST Registration Format Requirements
- GST Registration Limits
- GST Registration Documents Checklist
- Cancellation of GST Registration
- Revocation of GST Registration
- Changing Mobile Number/Email ID in GST Portal
- How to register for GST?
- Aggregate Turnover under GST
- GST Registration Certificate
GST Invoicing/Billing
The first step to becoming GST-compliant is creating correct invoices. However, not everyone knows what a GST-compliant actually is. Our experts answer the most common questions about GST invoices and how to go about creating one.
- GST Invoice
- GST Invoice Details
- Time Limit to Issue Invoices Under GST
- GST Invoice Format
- GST Bill of Supply
- How to Revise GST Invoices
- Rounding Off Tax Section 170 GST
- GST Receipt, Voucher, Invoice and Format
- How to Determine the Place of Supply in Case of Bill to Ship to Transactions
- FAQs on the Real Estate Sector under GST
Composition Scheme
The Composition Scheme is a lucrative option for all SMEs who want lower compliance and lower rates of taxes under GST. Can a business register under the normal scheme change over to the Composition Scheme if it wishes to? Here are the answers to the most commonly asked questions about this Scheme.
Time, Place & Value of Supply
The point of taxation, type of tax, and amount of tax depends on the time, place, and value of supply. It is necessary to understand how these rules apply in case of inter-state and intra-state transactions so that you charge the correct tax every time.
- Time, Place and Value of Supply in GST
- Place of Supply of Goods
- Place of Supply of Service under GST
- Time of Supply of Goods under GST
- Valuation of Supply Under GST
- Advance Received Under GST
- Valuation & Supply under GST: How to Value Supplies & Claim Discounts
- Place of Supply for Transportation Services
- Place of Supply for Services of Immovable Property
- Exports Under GST
Input Tax Credit
A seamless flow of Input Tax Credit is the backbone of the GST. But how does one claim ITC under GST? And what about the ITC due under the previous tax system? Know the answer to all your ITC-related queries and claim the credits due to you without delay.
- Blocked input tax credit under Section 17(5) of CGST Act
- Meaning of Input Tax Credit under GST
- Conditions, time limit and exceptions in Input Tax Credit under GST
- ITC Reversal under GST
- GST: Cases where Input Tax Credit (ITC) is Unavailable
- GST Input Tax Credit Utilisation
- Input Service Distributor under GST
- Rule 86B under GST: Restriction on ITC utilisation
- Invoice Management System (IMS) under GST
- ITC Rules for Capital Goods under GST
GST Accounting & Records
With GST, the Indian economy has gone digital. And so has our record-keeping process. Understand how to maintain your online records and accounts under GST, pass accounting entries, and much more.
- Accounting Entries Under GST
- GST Audit - What is GST Audit? Who Needs to Get GST Audit Done?
- GST Accounts & Records provision as per the GST law
- GST Audit Manual
- Accounts and records under GST
- GST Compliance Checklist
GST Payments & Refund
Once you have filed your returns for the month, you also need to pay the tax liability. This, too, is done online and if you are not well versed in the process of tax calculation and payment, this guide can help.
e-Invoicing
e-Invoicing or electronic invoicing under GST denotes electronic invoicing defined by the GST law. Just 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 an e invoice for Business-to-Business (B2B) transactions. It is mandatory for businesses with Rs. 5 Crore+ turnover from August 2023.
- e-Invoicing under GST
- e-Invoicing FAQs
- Time Limit for Reporting e-invoices on the IRP Portal
- All about Invoice Reference Number in e-Invoicing
- E-invoicing for Businesses Above Rs 5 Crore Turnover
- Impact of e-Invoicing on TCS under Section 2061H of the Income Tax Act
- How to Generate E-Invoice IRN in GST
- GST E-invoice Amend & Cancellation
- 2-Factor Authentication in E-Invoice System
- Consequences of Non-Generation of IRN
e-Way Bill
Electronic Way Bill (e-Way Bill) is a document required to be carried by the person in-charge of conveyance for movement of goods. It is generated either by the supplier, consignor, transporter, or, at times, the recipient of goods on the nation-wide e-Way Bill common portal. As our nation prepares for its full-fledged enactment, know more about the process and nitty-gritties of the system.
- Introduction to e-Way bill
- State-wise Threshold Limits for E-way Bills
- GST e-way bill exempted goods
- Generate GST e-way Bills
- Bill To Ship To GST e Way Bill
- Modify GST e-way Bills
- SEZ e-way bill and GST applicability
- How to Check e-way Bill History
- Time limit for e-way bill generation
- GST e-way bill Penalty
GST Penalties & Appeals
There are many actions that are recognised as an offense under GST. Read more about these offenses, the penalties for each, and the process for appeals so that your business stays on the right side of the law.
- GST Late Fees: Calculation, Due Dates & Penalties
- GST Offences and Penalties
- GST Penalties and Appeals
- GST Appeals: Filing, Forms, Rules & Procedures |
- Appeal against GST Demand Order: A Complete Guide
- GST DRC-01A: How to File, Download Form, and More
- Seizure, Detention and Confiscation of Goods under GST
- Appeals under GST - National Appellate Tribunal
- Circular on ITC claims on fake invoices
- How to Reply to a Demand Notice (DRC-06)
GST Procedure
The GST law has laid down stringent procedures for proper assessment of taxes, self-audit, and audit by officers. Wondering how it works? Read on to know more.
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About the Author
Annapoorna
I preach the words, “Learning never exhausts the mind.” An aspiring CA and a passionate content writer having 4+ years of hands-on experience in deciphering jargon in Indian GST, Income Tax, off late also into the much larger Indian finance ecosystem, I love curating content in various forms to the interest of tax professionals, and enterprises, both big and small. While not writing, you can catch me singing Shāstriya Sangeetha and tuning my violin ;). Read more
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