Rationalization of Tax Rates Efforts are ongoing to simplify and consolidate the current multi-rate structure Possibility of merging 12% and 18% into a single standard rate to reduce complexity Rate corrections for sectors like textiles, pharma, and food processing...

Inspection and Search Authority Tax officers can inspect any place of business if they suspect tax evasion or fraud Inspection must be authorized by an officer not below the rank of Joint Commissioner Officers can search premises where goods, documents, or accounts...

Constitutional Amendment GST was introduced through the 101st Constitutional Amendment Act, 2016 Empowered both Parliament and State Legislatures to make GST laws Introduced Article 246A for concurrent taxing powers on goods and services Added Article 279A to...

GST Context Refers to situations where a supply is considered received even without physical delivery Legal fiction created to trigger tax liability or ITC eligibility Important for accounting, valuation, and compliance Covers cases of delivery on behalf of recipient,...

Eligibility for Refund Excess cash balance in electronic cash ledger Accumulated ITC due to zero-rated supplies without payment of tax Refund of IGST paid on exports of goods or services Refund of tax on account of inverted duty structure Refunds due to appeal orders,...

Valuation and Margin Scheme Tax is levied on the margin (difference between selling and purchase price) If selling price is less than purchase price, no GST is applicable Applicable to dealers not availing input tax credit on purchases Ensures GST is only charged on...

Registration Requirements Transporters with turnover above threshold must register under GST Casual or unregistered transporters may need to enrol for TRANSIN ID Transporters operating in multiple states require separate registrations Must register for e-way bill...

Eligibility Criteria Must be a citizen of India with sound mind and not insolvent Should hold a graduate degree in Commerce, Law, Banking, Business, or related field Alternatively, should have cleared the final exam of CA, CS, or CMA Retired government tax officials...

Authorized GST Representation GST practitioners are certified professionals who assist taxpayers Registered under Rule 83 of the CGST Rules Authorized to file returns, respond to notices, and communicate with the department Act as intermediaries between businesses and...

Registration and Updates Businesses crossing threshold turnover must register under GST Details like business name, address, and bank accounts must be updated regularly Multiple registrations required for branches in different states Cancellation of registration must...