Pros and Cons of GST Registration GST Regime in India Before the introduction of Goods and Service Tax (Often referred as GST), Indian consumers paid various taxes on goods and services. Since the constitution allows both the center and state to levy taxes, each state levied their own taxes on the goods coming into their…
What is Reverse Charge Mechanism Under GST? What is Reverse Charge? Reverse charge mechanism is not new in Indian tax regime. It existed in service tax as well where it is applicable to only service and not on goods. Service providers were liable to collect and deposit the tax. Although, the burden of tax lies…
How to Cancel GST Registration? What is meant by cancellation of registration? GST has subsumed all other indirect taxes that were applied by the state and the central government. It is a tax levied at predetermined rates in a categorized manner on each level of value addition of goods and services. GST Registration is important…