GST Archives - TaxStudyOnline.com

IGST, CGST, SGST – How New Rules Give Businesses Control Over ITC

The Indian GST system continues to evolve to make compliance more business-friendly and to improve cash flow management. One of the most significant updates is the change in Input Tax Credit (ITC) utilisation rules for IGST liabilities, effective January 2026. This update may seem technical, but its implications are far-reaching, giving businesses more flexibility, strategic […]

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Service Accounting Codes (SAC) and Its Relevance Under GST? – A Detailed Analysis

GST / Rajat

The United Nations Statistical Division (i.e.; UNSD) developed the UN Central Product Classification (i.e.; UN-CPC), and based on this, the Central Board of Indirect Taxes and Customs (i.e., CBIC) developed the SAC codes with some modification in the Indian context. What is Service Accounting Code (SAC)? The term SAC stands for Service Accounting Code. We

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What is HSN and Its Relevance Under GST? – A Detailed Analysis

GST / Rajat

The Harmonized System of Nomenclature (HSN) is an international system used to give a special code to every type of product. It was developed by the World Customs Organization (WCO) so that goods can be identified and taxed uniformly all over the world. In GST, HSN codes help to make sure that right tax has

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GST Alert: Major Changes in Credit Notes from 1 October 2025 — Provisions Explained!

GST / Rajat

From 1 October 2025, the GST rules in India will change, especially for credit notes and their reflection in the GSTR-2B. What’s Changing? Under the revised process, credit notes issued by suppliers will now require explicit acceptance by customers (recipients) in the Invoice Matching System (IMS). If a buyer rejects a credit note, the supplier’s

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Taxable Event Under GST – Supply

GST / Rajat

What is a Taxable Event: Every taxation system has a foundation stone which is called as ” Taxable Event “. Before levying any tax, a taxable Event is ascertained. Taxable Event means the point at which the tax would be charged. It means any transaction or occurance that triggers the charageability of tax. Taxable Events

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How “GST 2.0” Could Boost Festive Season Spending

GST / Rajat

India’s festive season has always been more than just a time for celebration—it’s also the heartbeat of the country’s economy. From sweets and clothing to cars and gold, spending surges across industries during Navratri, Diwali, and Christmas. With the introduction of GST 2.0 in 2025, the government has made sweeping changes to the tax structure

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GST Slabs 2025 Explained: From Essentials at 0% to Luxury Goods at 40%

GST / Rajat

The Goods and Services Tax (GST) has undergone its biggest reform since implementation. Effective 22 September 2025, the Government of India simplified the structure by reducing multiple rates and introducing a new luxury slab. This move is aimed at making taxation more transparent, easing compliance, and providing relief to common consumers. If you’re a business

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How to Claim GST Refunds Faster: Proven Tactics That Work

GST / Rajat

Getting a GST refund can be a vital cash flow booster for many businesses, especially exporters, manufacturers, and service providers dealing with zero-rated supplies or excess input tax credit (ITC). However, delays in processing refunds are common and can disrupt working capital, operational efficiency, and even growth plans. If you’ve been wondering how to claim

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Is GST Really Hurting or Helping the Indian Economy? A Closer Look

GST / Rajat

In 2017, India made a historic shift in its tax structure by introducing the Goods and Services Tax (GST). This new tax system aimed to streamline the country’s complex indirect tax regime, replacing a maze of state and central taxes with a single, unified framework. But as with any major reform, the impact of GST

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Weekly Analysis of Notifications and Circulars: Week Ending 1st June 2025

Business & Finance, GST / yatinsapra

Overview of Key Notifications During the week ending 1st June 2025, a number of important notifications were issued across various government agencies and sectors. These notifications reflect significant developments that stakeholders need to be aware of to ensure compliance and informed decision-making. The focal areas included updates in public health policies, modifications in regulatory frameworks

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