Loading…
Loading…
Deep dives and practical guides written by the WFYI team.
Comprehensive explanations, FAQs, and updates about GST regulations, returns, and compliance.
This article outlines the impact of Goods and Services Tax (GST) on various sales and marketing activities. It clarifies that marketing efforts promoting sales are considered a supply of goods or services under GST, requiring tax payment based on transaction value even for free promotional items. The piece also details the eligibility for Input Tax Credit (ITC) for marketing service providers, emphasizing a key advance ruling that denies ITC on inputs for promotional merchandise due to their non-asset classification and expense treatment.
The Goods and Services Tax Network (GSTN) has introduced an interest calculator within the GSTR-3B form to simplify the computation of interest on delayed tax payments. This new functionality automatically calculates interest based on tax liabilities declared and payments made via the electronic cash ledger. It addresses previous challenges taxpayers faced in accurately self-assessing interest, providing a standardized method aligned with Section 50 of the CGST Act, 2017. While taxpayers can verify and adjust the auto-computed figures, the system prompts warnings for downward modifications, ensuring greater compliance with GST regulations.
Taxpayers can efficiently manage their login credentials for the GST portal through a straightforward recovery process. This guide details the steps for retrieving a forgotten username, which involves using a provisional ID, security questions, and an OTP verification. It also outlines the procedure for resetting a lost password, requiring the username, OTP, and creation of a new password. These recovery methods ensure secure access to essential GST compliance activities.
This article explores the Goods and Services Tax (GST) implications for various income streams of sporting event organizers in India, including participation fees, sponsorship charges, and ticket sales. It details the applicable GST rates and HSN codes for different types of events and services. Furthermore, it outlines the eligibility for the composition scheme for small taxpayers and the utilization of Input Tax Credit (ITC) for business expenses, along with key GST exemptions for charitable sports entities and recognized sports bodies.
From January 1, 2022, e-commerce operators (ECOs) became responsible for paying 5% GST on restaurant and cloud kitchen services facilitated through their platforms, a shift from the previous system where suppliers were liable. This change, introduced by Notification No. 17/2021, clarified that ECOs no longer collect TCS for these specific services and must pay GST in cash. The measure aims to streamline tax collection for online food delivery, with a specific focus on services not provided at physical premises.
This article outlines the tax implications for businesses utilizing Google Ads for promotional purposes in India. It details the operational aspects of setting up Google Ads campaigns and explains how Goods and Services Tax (GST) and Tax Deducted at Source (TDS), along with the Equalisation Levy, apply based on whether the transaction is with an Indian or foreign Google entity. Understanding these tax regulations is crucial for businesses to ensure compliance when managing their digital advertising expenses.
This article explains the Goods and Services Tax (GST) applicable to televisions in India, highlighting the impact of GST implementation on the electronics industry and consumers. It details the HSN codes and current GST rate of 18% for all TV sizes, following recent changes by the GST Council. The content also provides a comparative analysis of television pricing before and after GST, demonstrating the unified tax structure's effect on costs.
The Indian online gaming sector is undergoing significant changes concerning Goods and Services Tax (GST) as the Promotion and Regulation of Online Gaming Act, 2025, bans online money gaming. While a 28% GST previously applied to the full face value of bets on all online games, non-monetary games will no longer attract GST from August 22, 2025. E-sports and educational games continue to be taxed at 18% on platform fees. The GST Council is expected to clarify rates for platform fees in non-money gaming and emerging categories, impacting compliance and revenue within the evolving landscape.
Electricity supply in India is largely exempt from Goods and Services Tax (GST) as per specific notifications, extending to both residential and commercial consumers. While the direct sale of electricity is not taxed, certain related services, especially when bundled with other offerings like maintenance or property rental, may be subject to GST. Electrical products such as inverters and batteries also attract GST at varying rates. Businesses cannot claim Input Tax Credit on electricity bills, but ITC may be available for taxable maintenance and repair services of electrical equipment.
This article details the Standard Operating Procedures (SOPs) for GST return scrutiny in India, guided by Section 61 of the CGST Act and Rule 99 of the CGST Rules. It covers how tax authorities select returns for review, the step-by-step scrutiny process, and the designated timelines for completion. The SOPs aim to streamline compliance and ensure uniformity across different financial years, employing both manual and automated modules to identify discrepancies and ensure revenue protection.
The Goods and Services Tax (GST) margin scheme provides a unique valuation method primarily for second-hand goods dealers in India. Instead of applying GST on the full transaction value, this scheme taxes only the profit margin, which is the difference between the selling and purchase prices. This mechanism helps prevent double taxation on goods already subjected to GST. Eligibility for the scheme requires specific conditions, including the non-availment of Input Tax Credit on the goods.
Online sellers using platforms like Amazon and Flipkart must comply with specific GST regulations, including mandatory registration irrespective of standard turnover limits. The place of supply determines whether CGST/SGST or IGST is applicable, following GST's destination-based principle. Sellers are responsible for issuing GST-compliant invoices. Additionally, online vendors must adhere to standard GST return filing procedures, submitting GSTR-1 and GSTR-3B monthly or quarterly, and filing NIL returns if no transactions occur.