Have you ever thought about how GST on shoes affects your pockets? Depending on the type, material and cost of the footwear, the GST rates are different. In this blog, we break down every aspect of GST on footwear.GST on shoes is 12% for prices under Rs. 1,000 and 18% for prices above Rs. 1,000.GST Rates on ShoesThe GST on footwear in India depends on many factors, such as the type of shoes, the material used, and the price of the shoes. To understand the concept of GST on shoes better, look at the following table:Type of FootwearPrice RangeWaterproof FootwearAll Price RangesRubber/Plastic FootwearAll Price RangesLeather FootwearAll Price RangesSports ShoesAll Price RangesFancy Partywear/Textile ShoesAll Price RangesAll Types (Other)Below Rs.

The introduction of GST on lottery tickets has sparked intense debate and scrutiny within India’s tax landscape. Tax revenue from the sale of lottery tickets has been a major source of Exchequer for the Government. Hence, it becomes pertinent to analyse the GST on lottery tickets.Unlike most actionable claims, lottery tickets are classified as ‘goods’ and specifically brought within the ambit of GST, making their taxation both complex and consequential. Dive in to discover how a seemingly simple game of chance has become a focal point in India’s evolving tax regime.Applicability of GST on Lotteries‘Lottery tickets’, is actionable claim and is classified as ‘Goods’, under GST. However, an actionable claim is specifically covered under the negative list-schedule III of the CGST Act, keeping it outside the scope of GST.

In our articles, we have elaborated when to obtain GST Registration and the basic threshold turnover limit applicable for obtaining the GST Registration. In this article, let’s discuss all the immediate steps that one must take to stay compliant under GST after obtaining the GST registration certificate.The registration shall be effective from the date on which a person becomes liable to registration where the application for registration has been submitted within a period of thirty days from such date. But where the application is submitted beyond the 30 day period, then registration shall be effective from the date of the grant of registration.Please note, that where business is being carried out in different states, every such business must be registered separately under GST. Hence, each of such GSTIN must comply with these GST rules separately.Display GST Registration details in place of businessEvery business must display the GST Registration certificate at a prominent or noticeable place inside the premise of the principal place of business and every other place of businesses.Once the GST identification number(GSTIN) is obtained, every registered business must display this number on the name-board placed at the entry of its registered office or factory.Identify the place of supply to decide whether to charge CGST & SGST or IGSTIdentify the nature of transaction- whether the supply if within the State or outside the State. To identify this, place of supply provisions of GST law must be referred.

GST registration is an essential compliance for any business or professional in India. There are set criteria for one to qualify for the GST registration. Alternatively, businesses can also voluntarily obtain GST registration or GSTIN. In this article, we will cover the following aspects for one to learn about GST registration in India.Meaning of GST registrationEligibility for GST registrationBenefits of GST registrationGST registration processGST registration feeDocuments for GST registrationGSTINGST registration certificateConsequences of not obtaining GST registrationLatest Update17th April 2025The CBIC issued instructions to its GST officers in Central Tax Instruction No. 03/2025-GST.

ISD or an Input Service Distributor is a type of taxpayer under GST who needs to distribute the GST input tax credits that pertain to its GSTIN to its units or branches having different GSTIN but registered under the same PAN. From 1st April, 2025, it is mandatory to get register under GST as ISD and start complying with ITC distribution and GSTR-6 filing if your entity receives common input service invoices for multiple GSTINs.Latest Updates1st February 2025The Union Budget amended sections 2 and 20 of the CGST Act to add explicitly about the reverse charge mechanism provisions of sections 5(3) and 5(4) of the IGST Act.*6th August 2024Before the notification no. 16/2024-Central Tax, the ISD mechanism was not mandatory. However, the government amended sec 2(61) and sec 20 of the CGST Act, 2017 and made the ISD provisions mandatory, effective from 1st April 2025.10th July 2024Via notification no. 12/2024-Central Tax, CBIC amended rule 39 of the CGST Rules, 2017, and prescribed the method for allocating ITC by an ISD, but the same has yet to be notified.*The decision will apply once the relevant notification is issued.Who is an Input service distributor (ISD) under GST?An Input Service Distributor (ISD) is a taxpayer that receives invoices for services used by its branches.

The GST landscape for old and refurbished cars has undergone significant changes, simplifying tax compliance for dealers and buyers alike. With the 55th GST Council meeting introducing a uniform 18% GST rate on used vehicles, the tax structure now focuses on profit margins rather than the entire sale value. This shift clears misconceptions like "tax on losses" and ensures fairness in the second-hand car market.GST Rate on Used Cars: The 55th GST Council meeting sets an 18% GST on used vehicles, targeting profit margins instead of the full sale value.As a business owner or buyer, understanding GST rates, HSN codes, and key rules is essential to navigate this evolving framework. In this article, we’ll explore everything from applicability to recent updates and practical scenarios for GST on used cars.Understanding GST on Used CarsLevy of GST on used cars is based on the taxable event called as supply. The definition of supply under includes all kinds of sale, exchange, transfer, barter, lease, rental, license and disposal undertaken for the furtherance of business consideration.

The first question that probably comes to most people's minds when they are considering taking a personal loan or have already taken one is: How much extra do I have to pay over the tenure of the loan? GST is one of the additional costs you will incur when taking a personal loan. This blog discusses everything you need to know about GST on personal loan.GST Rates on Personal Loan-Related ChargesTo answer the question, “How much GST do I have to pay on a personal loan?” it is essential to break down the loan into its components. A personal loan consists of three key components: the principal, interest, and charges such as loan processing fees and foreclosure or prepayment charges.Principal amount - When repaying the principal amount of the loan, you are essentially transferring money to the lender. GST applies to the supply of goods and services, but both are defined in a way that excludes money. The principal amount is not subject to GST, and consequently, there is no GST personal loan EMI.Interest - The charging of interest is an agreement between the borrower and the lender based on predetermined rates that have to conform to guidelines laid down by the Reserve Bank of India.

In this article, we will discuss what a business owner needs to do if he/she has to change or update the GST registration details. There may be a need to modify registration details later on due to mistakes made while applying for GST registration or due to any changes during the course of the business over a period of time. It is also called the amendment of GST registration details as per the GST law in form REG-14.Latest Updates17th April, 2025The CBIC has issued new instructions regarding the processing of GST registration applications. The instructions aim to streamline the process and eliminate unnecessary document requests. They clarify the acceptable documents for proving the principal place of business and the constitution of the business.

The Income Tax Department has discontinued the C9 correction option that was previously used to add new challans or transfer vouchers in correction statements. This option has been removed in the RPU 4.8. The online correction facility can be used on statements from FY 2007-08 onwards. This online correction can be done free-of-cost on TRACES. Online correction is that it can be done without requesting a Conso file.

TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online portal introduced by the Income Tax Department. Once you are registered you can avail many facilities provided by traces. You can view TDS/TCS credit, verify form 16, view refund status etc.Here are the steps to register in TRACES:Step 1: Click on “Register as New User” tab, Select “Deductor” as the type of user and click on “Proceed”.Step 2: Provide TAN of the deductor, enter “Verification code” and click on “Proceed”.Step 3: Enter the Token number of the Regular (Original) Statement only, along with CIN/BIN and PAN details pertaining to the Financial year, Quarter and Form Type displayed on the screen.Token Number: Challan details (CIN): Challan amount, Challan date, BSR code and CD record number (it is optional). Govt deductor can enter the only Date of Deposit and Transfer Voucher amount mentioned in the relevant Statement. PAN details: Maximum of 3 distinct valid PANs and corresponding amount must be entered.