Details about GST Registration
Supplies of all goods and services are taxable except alcoholic liquor for human consumption.
Imports of goods and services are treated as interstate supplies and IGST is levied on import of goods and services into the country.
- If SGST is accrued to the state, the incidence tax will consider destination principle and the tax revenue where the imported goods and services are consumed.
- Full and complete set-off is available on the GST paid on import on goods and services.
Exports are treated as zero-rated supplies. No tax is payable on exports of goods or services. However, credit of input tax credit is available.
- The exporter has an option to either pay tax on the output and claim refund of IGST
- He can export under the bond of without payment of IGST and later claim a refund of Input Tax Credit (ITC)
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