A registered person has to pay GST for all taxable supplies of goods or services or both on or before the 20th of the following month for which tax has been charged to recipients. As per section 50, every person who is liable to pay GST in accordance with the provision of this act or rules made there under but fails to pay tax or any part thereof to the government within the … [Read more...] about When Interest on delayed payment of GST is to be paid
Goods and Services Tax
Beginner’s guide to TCS under GST – Collection of tax at source
Collection of tax at source or TCS refers to tax which is collected by the e-commerce operator when a supplier supplies goods or services through its portal. TCS amount should be collected from the payment of supply collected by the electronic commerce operator. This article will be a guide for e-commerce operator to know the provisions of TCS under GST. If you are interest to … [Read more...] about Beginner’s guide to TCS under GST – Collection of tax at source
A beginner’s guide to TDS under GST – Tax deduction at source
Initially TDS provisions are introduced in Income tax act, 1962. Section 51 of the CGST Act, 2017 talks about tax deduction at source or TDS under GST law. As per this provision, only few organisations are required to deduct tax while paying to the supplier. It's not applicable to all cases. Who has to deduct tax at source or TDS under GST As per law, following persons … [Read more...] about A beginner’s guide to TDS under GST – Tax deduction at source
What is the time limit to issue GST tax invoice
A registered person must issue tax invoices under GST to its recipient for supplying goods or services or both in India. Time period for issuance of invoice is different for goods and services. For goods, tax invoice should be issued any time before or at its delivery. For services, it should be issued within 30 days from the date of supply of services. Let us discuss time … [Read more...] about What is the time limit to issue GST tax invoice
How goods and services tax or GST is paid in India
One of the best thing of GST system is that government has made the entire process online, which means you can pay taxes and file your return online without leaving your office. As per the GST law, a registered taxpayer in case of Intra-state supply of goods or services or both, has to pay central tax (CGST) and state tax (SGST). For inter-state supply of goods or services … [Read more...] about How goods and services tax or GST is paid in India