KnowyourGST-Blog on Indian Tax and Accountign Laws

GST compliance rating score and how to improve your GST rating score

Every registered person under GST is given a compliance rating. This rating number depends on timely tax payment, timely and accurate return filing and fulfilling other requirements. Section 149 of CGST act, specifies that Every registered pers…

by Pulkit Sharma 15/05/2017 under GST

Trading with unregistered person under GST and levy under reverse charge

A registered person is one who has registered under GST and unregistered person is one who is not registered under GST. This is a simple definition of registered and unregistered person in a layman language. As a registered person to comply cor…

by Pulkit Sharma 15/05/2017 under GST

Bill of supply and invoice for GST composition levy scheme

Those who have opted for composition scheme needs to provide a bill of supply instead of a tax invoice. Section 31 of CGST Act, contains the provision for issuing invoice for supply of goods or supply of services. If you are paying tax under comp…

by Pulkit Sharma 14/05/2017 under GST

GST Invoice format in Excel and PDF

The government notified rules for a tax invoice. A tax invoice issued by a registered person should contain details as required. I have drafted an invoice in MS Excel and PDF format, which you can use for reference purpose. Alternatively, you can…

by Pulkit Sharma 12/05/2017 under GST

GST Login closed temporary login not allowed

The last date to enroll or migrate under GST was 30th April 2017. The GST portal has message that login for existing as well as new registration is closed with effect from 1st May 2017 and will reopen after some period. As a result those who …

by Gst Payer 09/05/2017 under GST

Guide on Goods and Service Tax (GST) for beginners

This article is a basic guide on Goods and Service Tax (GST) for beginners, which will be further improved from time to time. The purpose of this guide is to explain GST in a simplified manner and linking the useful information that every tax payer …

by Pulkit Sharma 08/05/2017 under GST

Search HSN code and HS description of a product with explanation

Search with HSN Code HSN Code HS Description GST - Tax Rate Result HSN or HS Code or Harmonized System (HS) is an effort to …

by Pulkit Sharma 06/05/2017 under GST

GST on online advertisements and impact on website publishers and bloggers

Every website publisher or a blogger makes money online through advertisements or selling E-books or through affiliate marketing. Goods and services tax or GST has specifically and separately made provisions for E-commerce industry. GST has made …

by Pulkit Sharma 02/05/2017 under GST

Complete guide on online sellers on E-commerce platforms under GST

Most of the E-commerce operators or E-commerce platforms such as Flipkart, Amazon, Snapdeal etc. are making loss on their operations, instead sellers who sell online using these platform services are profitable. Selling online is fast catching bu…

by Pulkit Sharma 01/05/2017 under GST

Complete guide on E-Commerce under GST

Electronic Commerce or E-Commerce is defined under section 2(44) of CGST Act, 2017 as the supply of goods or services or both, including digital products over digital or electronic network. Electronic Commerce Operator or E-Commerce operator is d…

by Pulkit Sharma 30/04/2017 under GST

GST on Job-works and provisions applicable to job-works

Goods and Service Tax (GST) is a tax levied on goods and services supplied. Job-work and job-worker is defined by section 2(68) as, any treatment or process undertaken by a person on goods belonging to another registered person and the expression &l…

by Pulkit Sharma 29/04/2017 under GST

Whether GST is payable on reimbursements of expenses incurred by service provider?

Goods and Services Tax or GST is made simple compared to earlier indirect tax laws. The confusion which we had earlier is very specifically articulated by government regarding reimbursements of expenses incurred at the time of provision of services.…

by Pulkit Sharma 29/04/2017 under GST

Valuation rules under GST to calculate valuation when not possible under section 15 of CGST Act, 2017

Valuation rules were notified by government to determine the value of supply of goods or services or both. These rules are notified to provide valuation methods in case valuation is not possible under section 15 of CGST Act, 2017. These rules pro…

by Pulkit Sharma 29/04/2017 under GST

How to calculate the taxable value for a Tax Invoice under GST?

Calculating the taxable value has always been the crucial and most important step in arriving at the tax liability. As a tax payer, you must have questions such as: How to calculate taxable value, gross value or net value to calculate taxes su…

by Pulkit Sharma 27/04/2017 under GST

Scope for Chartered Accountants, Cost Accountants and Tax consultants under Goods and Service Tax ( GST )

As a chartered accountant, the first question that comes to my mind is how beneficial the GST will be for my practice. Its not just me but every CA, CWA or tax consultant has same state of mind. Whether GST will have a positive or negative impact…

by Pulkit Sharma 26/04/2017 under GST