The GST Council (Goods and Services Tax) has clarified that it cannot tax alcohol, which is under the purview of the states. This is a welcome move, as it will end a lot of uncertainty and litigation in the industry. GST Council and alcohol Alcohol is a state subject inContinue Reading
GST stands for Goods and Services Tax. It is a value-added tax that is levied on most goods and services sold for domestic consumption in many countries around the world. The GST system replaces multiple layers of taxation that existed under the previous tax regime, and aims to streamline theContinue Reading
The Goods and Services Tax (GST) was introduced in 2017 to streamline the collection of indirect taxes in the country. All registrants are required to file monthly, quarterly and annual returns under the new GST regime. A GST returns is basically a record detailing all of a seller’s income, sales,Continue Reading