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Deep dives and practical guides written by the WFYI team.
Comprehensive explanations, FAQs, and updates about GST regulations, returns, and compliance.
The Goods and Services Tax (GST) is slated for implementation in Jammu and Kashmir, aiming to integrate the state into the national economy despite its special autonomous status. This process requires the J&K Assembly to pass specific legislation adopting Central and Integrated GST laws. Businesses in J&K, particularly those exceeding a ₹20 lakh turnover, will need to register under GST and comply with new documentation requirements.
E-commerce platforms and online sellers in India must adhere to specific GST registration rules, including provisions for Tax Collection at Source (TCS). This guide explains who is responsible for collecting TCS, the mandatory GST registration process for e-commerce entities, and procedures for registration cancellation. It also clarifies GST registration for overseas providers of Online Information and Database Access or Retrieval (OIDAR) services, detailing what constitutes OIDAR and related compliance penalties.
The Goods and Services Tax (GST) in India, introduced with a "one nation, one market, one tax" vision, aimed to simplify the indirect tax system. It replaced a complex web of central and state taxes, reducing cascading effects and enhancing tax compliance. While it has streamlined operations for businesses and improved economic data, challenges remain, particularly for small enterprises facing higher compliance costs. The long-term outlook anticipates further economic growth and potentially simplified tax slabs, although initial inflationary pressures and varied impacts on consumers persist.
India's cement sector, the world's second largest, faces significant changes under the Goods and Services Tax (GST) regime. A key update saw the GST rate on cement reduced from 28% to 18%, effective September 22nd, 2025, aiming to lower construction costs. This tax reform replaces a complex pre-GST structure, promising streamlined warehousing, reduced transportation expenses, and a simpler tax framework for manufacturers. Ultimately, the long-term benefit to consumers depends on whether these operational savings are passed on by cement companies.
The 56th GST Council meeting introduced revised tax rates for hotel accommodations in India, effective September 22, 2025. Rooms with tariffs up to ₹7,500 per night now attract a 5% GST without Input Tax Credit (ITC), while those above ₹7,500 continue with an 18% GST with ITC. These changes aim to simplify taxation and boost affordability for mid-range lodgings, though hotels must carefully manage ITC for compliance, especially if operating both specified and non-specified premises.
Before the final Goods and Services Tax (GST) rates were confirmed, manufacturers assessed potential impacts on product pricing, particularly for items like home appliances. The expectation was that goods falling between tax slabs might incur higher rates, even as the government aimed to protect essential commodities. Experts noted that mechanisms like the anti-profiteering clause and efficient Input Tax Credit (ITC) flow were crucial for price reduction, though their full effects would take time to materialize.
India's Goods and Services Tax (GST) was confirmed for implementation at midnight on June 30, 2017, despite previous speculation about delays. The Finance Minister emphasized that businesses had ample preparation time for this new tax system. This significant tax reform aimed to integrate various state and central indirect taxes into a unified framework.
India's Revenue Secretary Hasmukh Adhia expressed confidence in a smooth transition to the Goods and Services Tax (GST) regime, attributing it to the country's multi-point taxation system, which should prevent sudden inflation. He also noted that GST is anticipated to enhance the competitiveness of domestic businesses by establishing an equitable playing field. The new tax structure is expected to particularly benefit local manufacturers by providing a significant boost.
The Revenue Department has announced that the Goods and Services Tax (GST) enrollment period will soon reopen, following a temporary suspension on April 30th. This provides another critical opportunity for taxpayers who missed the initial registration deadline. The government is actively conducting awareness campaigns to ensure all eligible taxpayers complete their enrollment once the process resumes.
This comprehensive guide explains the Goods and Services Tax (GST) in India, an indirect tax implemented on July 1, 2017, to replace various older taxes. It details GST's multi-stage, value-addition, and destination-based characteristics, alongside its historical journey and core objectives, such as eliminating tax cascading effects and combating evasion. The article further outlines GST components (CGST, SGST, IGST), current rates, differences from the pre-GST regime, and its role in price reduction. Finally, it covers new compliances like e-Way Bills and e-Invoicing.
The Goods and Services Tax Network (GSTN) has initiated a two-week pilot program involving 4,000 taxpayers to test its return filing process. This aims to ensure the system's readiness for approximately 80 lakh monthly filings once GST goes live. The test addresses concerns regarding the portal's capacity to handle the significant data volume from the mandatory 37 annual returns per company.
GSTR-3B is a monthly (or quarterly) self-declared summary GST return crucial for taxpayers to report sales, ITC, and tax liabilities. This comprehensive guide details its definition, eligibility, important due dates, and associated late fees and penalties. It also compares GSTR-3B with GSTR-1, GSTR-2A, and GSTR-2B for reconciliation purposes, helping taxpayers maintain compliance and avoid discrepancies.