Latest Articles By Jagdish Prasad

GST on Restaurant Meals: Dine-in, Takeaway & Delivery Compared Dining out or ordering food is a common part of modern life, but did you know that different types of restaurant services attract different GST rates? Whether you’re eating at a restaurant, taking food away, or ordering online via Zomato or Swiggy, the GST on restaurant

What is GSTR-11? Return Filing Guide for UIN Holders GSTR-11 is a GST return form specifically meant for entities that have been issued a Unique Identification Number (UIN). Unlike regular GST returns filed by businesses, GSTR-11 is not used to report tax liabilities but to claim refunds on GST paid on purchases (inward supplies). It

What is GST Form SPL-02? Usage and Filing Requirements Under India’s Goods and Services Tax (GST) system, certain organizations such as foreign embassies, diplomatic missions, United Nations bodies, and other notified entities are not regular taxpayers. However, they may incur GST charges while purchasing goods or services for official purposes. To facilitate refunds of such

GST Rate for Computer and IT Hardware Accessories Whether you’re assembling a new PC or upgrading your office setup, buying computer hardware accessories—like monitors, CPUs, keyboards, and more—comes with a GST charge. In this blog, we break down the gst rate for computer and IT hardware accessories in India, so you know what to expect

GST for Printers and Printing Equipment: Tax Rates and HSN Codes Whether you’re buying a printer for your home, a multifunction device for your office, or a 3D printer for your tech lab, understanding how GST applies can help you make smarter purchase decisions. In this blog, we break down the GST for printers and

Chalk GST Rate: Tax Details for Educational and Art Supplies Chalk is a simple yet essential tool used in classrooms, art projects, and workshops across India. Whether it’s white chalk for blackboards or colored chalk for drawing, it plays a big role in both learning and creativity. But how much tax does it attract? Here’s

GST on Napkins and Sanitary Products: Tax Structure Explained Sanitary napkins and related hygiene products are essential for menstrual care and women’s health. When GST was first introduced, these items were taxed like other consumer products. However, public outcry and campaigns led to a significant change. So what is the current GST on sanitary napkins

Tent House GST Rate: Rentals and Services Tent houses are an integral part of Indian weddings, cultural programs, religious events, and outdoor parties. They provide everything from canopies and chairs to decorative lighting and stages. But how are these services taxed under the GST? This blog explains the tent house GST rate, what services are

Fish GST Rate: Fresh, Frozen, and Processed Fish is an essential part of the Indian diet—affordable, nutritious, and widely consumed across the country. But how does GST apply to fish and seafood products? Whether you’re buying from a local fish market or importing frozen fillets, knowing the fish gst rate in India helps both sellers

GST on Carpets and Rugs: Know the Current Tax Rate Carpets and rugs are more than just floor coverings—they’re a blend of comfort, décor, and design. Whether you’re buying hand-woven rugs or machine-made carpets, GST is an essential part of the billing. In this blog, we’ll simplify the gst on carpets, rates by material and

GST on Fruits: Exemptions and Taxable Categories Fruits are a basic necessity in every household, and they’re also big business in India’s food trade. But not all fruits are taxed the same. The gst on fruits in india depends on whether they are fresh, imported, or processed. Let’s explore the full tax treatment in this

GST Rate on Cold Drinks and Aerated Beverages Cold drinks are a favorite refreshment for millions across India—especially during summer. But behind every bottle of soda or fruit-based cooler is a high tax tag. In this guide, we break down the cold drinks gst rate, its impact on pricing, and how it affects both consumers

GST for Luxury Items: High-End Goods and Applicable Rates Luxury goods—from designer bags to high-end cars—come with a premium price tag, and so does their tax. Under the Goods and Services Tax system, luxury products attract higher tax rates to balance affordability with indulgence. Let’s explore the gst for luxury items, their classification, and how

GST on Consultancy Services in India From legal advice to software support, consultancy services are a major part of India’s service sector. Under the Goods and Services Tax regime, most consultancy services are taxable. In this guide, we break down the gst on consultancy services, including rates and classifications by profession. BOOK A FREE DEMO

GST for Construction Materials: A Detailed Guide Whether you’re building a house, a commercial space, or an infrastructure project, materials like cement, bricks, steel, and tiles make up a major portion of the budget. Understanding the applicable gst for construction materials helps builders, contractors, and buyers estimate project costs and manage taxes better. BOOK A

Wood GST Rate: Timber, Plywood, and Other Products Wood is a widely used material in construction, furniture, and interior design. From raw timber to polished furniture, different types of wood products are taxed differently under the Goods and Services Tax (GST). This blog simplifies everything you need to know about the wood gst rate across

GST on Pencils in India: Educational and Non-Educational Use Explained Pencils are one of the most basic yet essential tools used in schools, offices, and homes. Whether you’re a parent buying for your child or a business supplying stationery, knowing the gst on pencil helps in budgeting and tax planning. Let’s understand how pencils are

GST on Batteries: Auto, Inverter, and More Batteries are used in a wide range of applications — from cars and bikes to inverters and UPS systems. If you’re in the business of buying, selling, or using batteries, it’s important to understand how the Goods and Services Tax (GST) applies to them. In this blog, we’ll

GST on Electricity: Is It Covered Under GST? Electricity powers our homes, businesses, and industries. But when it comes to taxes, many people are confused about whether electricity is taxed under GST. In this blog, we’ll break down what the law says about the gst on electricity, how it applies, and where it doesn’t. BOOK

GST on Alcohol in India: Why It’s Excluded from GST Alcohol is one of the few major commodities in India that does not fall under the Goods and Services Tax (GST) system. Unlike most goods and services, the gst on alcohol in india is non-existent. But why is alcohol excluded? What taxes apply instead? And

GST on Real Estate in India: Applicability Explained The Indian real estate sector has undergone major tax reforms with the introduction of the Goods and Services Tax (GST). Whether you’re buying a flat, constructing a building, or leasing commercial property, it’s crucial to understand how the gst on real estate works. In this blog, we’ll

GST on Flight Tickets in India: Rates, HSN Codes & Fare Breakdown Whether you’re flying for business or leisure, your airline ticket includes more than just the base fare. One major component is Goods and Services Tax (GST), which varies based on travel class and flight type. In this blog, we’ll break down the gst

GST on Used Cars in India: Rules, Rates & Applicability Explained Thinking of buying or selling a used car? Whether you’re purchasing from a dealership or selling your old vehicle, understanding the GST (Goods and Services Tax) implications is crucial. The GST rules for used or second-hand vehicles are different from those on new cars.

Cloud Accounting: Meaning, Benefits and Challenges Today, businesses are shifting to smarter, faster ways to manage their finances. Cloud-based tools have made this easier than ever, helping teams stay connected and up to date. They save time, improve accuracy, and offer more flexibility. However, like any new technology, they also have a few challenges that

Future Trends Perpetual Inventory System AI Automation AI and automation are driving a transformation of the perpetual inventory system. Robotics and autonomous vehicles are improving operational efficiency, and machine learning is taking predictive analytics to the next level in terms of predicting future trends. Data analysis in real time also helps to provide better insights

What is BOM (Bill of Materials)? Before starting the manufacturing process for any product, a critical document must be prepared containing all possible information needed to create the required finished product successfully. This document is the Bill of Materials (aka the BOM). It must provide a comprehensive list of all the components and raw materials

How to Manage and Reduce Inventory Costs? Inventory is one of industrial or retail companies’ most significant and tangible investments. Smart inventory management techniques can distinguish between thriving and barely surviving businesses. They can also help increase revenues. Many business owners are unaware of the actual cost of carrying extra inventory, which, when all carrying

What is Safety Stock? Safety stock refers to a company’s additional inventory as a buffer to minimise the risk of supply shortages or stockouts. These shortages can occur due to various factors, such as forecasting errors, unpredictable lead times for raw materials, or changes in supply and demand. Determining the appropriate amount of safety stock

What is Credit Transfer Document (CTD) in GST? The Credit Transfer Document (CTD) is important in the Goods and Services Tax (GST) system. It enables the transfer of credit from one taxpayer to another. Under GST, taxpayers can transfer credit from the closing balance of one tax period to the next. This helps in avoiding

GST ITC Transition Provision The GST has incorporated transition provisions to facilitate the migration of existing taxpayers to the new tax system transparently and precisely. One of the major concerns for businesses during this transition is the availability and eligibility to claim input tax credits as the indirect tax regime changes to GST. The GST

Guide to GSTR-1 BOOK A FREE DEMO What is GSTR-1? GSTR-1 is a monthly or quarterly return under GST that captures details of all outward supplies (sales) made by a registered taxpayer. It includes invoices issued, debit and credit notes, exports, and other sales data. This form is crucial because: It determines the recipient’s Input

General Rules of Place of Supply of Services A taxpayer must pay tax at the time and according to the place of supply under the GST law. The location where services are supplied is also where they are consumed. Under the IGST Act, “Place of Supply” provisions are explained. Here we will explain the “Place

Composition Levy Under CGST Rules (Chapter 2) The Composition Scheme was introduced by the Central Government to ease the burden of indirect tax compliance on small businesses by making the process of compliance easier for them. Under the composition scheme, small taxpayers can pay tax as a prescribed percentage of their turnover, instead of at

How To Determine Value Of Supply When Consideration Is Not Wholly In Money? BOOK A FREE DEMO Cases Where Consideration is Not Wholly in Money Sometimes, businesses create innovative payment schemes where customers must pay partial cash and the remainder in other forms of consideration, such as exchanging a second-hand product for a new one.

Valuation of Supply Under GST When You Give Discounts Discounts are a crucial part of many businesses, with trade and cash discounts often used to increase sales and recover payments quickly. Post-sale discounts may also be offered if certain goals are met. However, in the context of India’s GST system, discounts can have an impact

Input Tax Credit on Capital Goods BOOK A FREE DEMO Rules Apply To Calculate Input Tax Credit Reversals Different rules apply to calculate input tax credit reversals, availability, non-availability, and tax credits in respect of capital goods under GST. In this article, we will dive into the concept of ITC for capital goods. Claiming the

Differences Between Regular and Composite Gst Schemes The key differences between regular and composite tax schemes under GST include the tax rates, compliance requirements, eligibility criteria, and input tax credit availability. Choosing the appropriate scheme is essential for businesses, as it can impact their tax liability and compliance burden. BOOK A FREE DEMO Overview of

Guide to GST Refund Claims To request a GST refund, the taxpayer must submit the necessary paperwork and declarations to the GST authorities. The electronic cash ledger’s excess cash balance, unintentionally paid taxes, and accumulated Input Tax Credits (ITC) that cannot be applied to tax payments because of zero-rated sales or an inverted tax structure

Benefits Of Registering Under the GST Composition Scheme Provisions for a taxpayer’s registration under the composition system are found in Section 10 of the GST Act. The composition scheme aims to ease low-revenue entities’ compliance requirements for taxpayers with an annual revenue of less than Rs 1.0 crore. A composition dealer may supply services up