Tax unlock

  The CBIC has notified that e-invoicing will be applicable from 1st April 2022 for businesses with a turnover of more than Rs.20 crores (in any financial year from FY 2017-18 onwards). Below chart shows for which documents e-invoicing is required. *Bill of Supply means supplied made of exempted goods or services. Irrespective of the turnover, e-Invoicing shall not be applicable to the following  as notified in CBIC Notification No.13/2020 – Central Tax: 1.     An insurer or a banking company or a financial institution, including an NBFC 2.     A Goods Transport Agency (GTA) A registered person supplying passenger transportation services 3.     A registered person supplying services by way of admission to the exhibition of cinematographic films in multiplex services. 4.     Input Service Distributor. An SEZ unit (excluded via CBIC Notification No. 61/2020 – Central Tax. More read : https://taxunlock.blogspot.com/2022/03/gst-provisions-for-selling-through.html https://taxunlock.blogsp

  GST Registration Compulsory!!! https://www.amazon.in/gp/goldbox?&linkCode=ll2&tag=10e3928-21&linkId=4b2917bf40081515c5289ba80b4fe0f0&language=en_IN&ref_=as_li_ss_tl GST registration is compulsory for selling goods online. As such you will not able to make business account on e-commerce portal if you don’t have GST number. GST registration is compulsory even if you are going to sale exempt product or your turnover is below registration limit requirement. (Read when GST registration required in other cases- https://taxunlock.blogspot.com/2022/02/registration-under-gst.html   In short, all product you will be required to charged GST as per applicable rate. Tax deduction from your consideration other than operator charges Supply of goods through E-Commerce operator would attract TCS provisions if consideration is collected by Operator and then remittance made to you.   E-commerce operators would collect 1%  of Net taxable value invoice wise and the same