
GST Laws
Free Available Answers
on GST Laws
Get Expert Advice Online
from Top Lawyers
in Chennai
Read Blogs to get more Insights
Offences under GST
When has anyone committed an offence under GST? There are several offences under GST. For easy unde...
Posted By
Saket Mohta
1 month ago
All to know about GST Returns
*DIFFERENT TYPES OF RETURS TO BE FILED BY A REGISTERED NORMAL TAX PAYER IN GST REGIME* *1. GSTR 1...
Posted By
Saket Mohta
1 month ago
Sorry did not find any Lawyers as per your selection!
Place your request by posting your matter we will get back to you with suitable options.
- What is GST?
- Who needs to pay GST?
- What if I don’t pay GST?
What is GST?
Goods & Service Tax (hereinafter referred to as the GST) is a comprehensive tax mechanism wherein all the major indirect taxes have been clubbed as one. It aims at the reduction of the cascading effects of taxes. GST eases the process of doing business.
Alcohol, Petroleum Products, and Tobacco Products are not included in the purview of GST. Stamp Duty, Property Tax, Toll Tax, Electricity Tax are some other things that are not affected by the introduction of GST. GST has been acquainted with supplant numerous indirect taxes collected by State and Central Governments keeping in mind the end goal to disentangle the indirect tax framework. GST has supplanted about 17 of the current state and central indirect taxes (more to come later on, for example, central excise duty, extra customs duty, VAT, entertainment tax, service tax and so on.
Types Of GST
There are 3 prime models of GST, they are Central GST, State GST, and Dual GST. There are 3 major types of GST; Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), and Integrated Goods and Services Tax (IGST).
There have been certain legislations related to the subject of Goods & Service Tax, some of them are Central Goods and Services Tax Act 2017, Integrated Goods and Services Tax Act 2017, Union Territory Goods and Services Tax Act 2017, Goods and Services Tax (Compensation to State) Act 2017, and so on.
As per the policies of GST, the taxpayer is provided with a State wise PAN based 15 digit Goods and/or Services Taxpayer unique Identification Number (GSTIN).
Starting from the left-
1st two digits indicate the State Code
3rd to 12th digit indicates the PAN number
13th digit indicates the Entity Code
14th digit ________
15th digit indicates the check digit
Who needs to pay GST?
As per the decision of the GST Council, businesses in the North-eastern and hill states with an annual turnover not exceeding Rs. 10 Lakh are exempted from the GST net, while the threshold for the exemption in the rest of India is an annual turnover of Rs. 20 lakhs.
Goods and Service Tax (GST) is a one single tax on the supply of products and enterprises, right from the Manufacturing to a definitive conveyance to customer. Credits of input tax paid at each stage will be accessible in the ensuing phase of significant worth expansion, which makes GST basically a tax just on value expansion at each stage and therefore abstaining from cascading effect. The last consumer will accordingly bear just the GST charged by the last dealer in the supply chain, with set-off advantages at all the past stages.
Penalty for Non-Payment of GST
Penalty for delay in filing GSTR- Late fee is Rs. 100 per day per Act. So, it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.
Penalty for not filing GSTR- Penalty 10% of tax due or Rs. 10,000 -whichever is higher.
Request a Callback for Legal Help
In case you want us to call you back to understand your legal problem then please submit your details with a brief description of the legal issue that you have. We will call you back.
Successful
Your Request has been successfully taken. We will contact you soon. Thank you !
The most trusted and relied upon partner for hiring lawyers for any kind of legal services.
Testimonial
Top Responding Lawyers
on GST Laws
























Consult Advocate {{lawyerName}}
Please select how would you like to Consult
Type of Consultation | Fees | |
---|---|---|
Phone Consultation | ₹ | |
Meeting Consultation | ₹ | |
Email Consultation | ₹ | |
Video Conference | ₹ | |
Request for quotation from the Lawyer. |
Review and Confirm
Consultation Request for Advocate {{lawyerName}} | |
Consultation Type : Meeting Consultation |
Charges : | ₹ | 118 | (with 18% GST) |
Successful
Your Request has been registered. We will get back to you soon.
Submit Your Query
Successful
Your Transaction is Completed
Payment Failed
Your Transaction is Failed