There are three components of GST, which are:

1. Central Goods and Services Tax (CGST): CGST is a tax levied by the Central Government on the supply of goods and services within a state. The revenue collected from CGST goes to the Central Government.

2. State Goods and Services Tax (SGST): SGST is a tax levied by the State Government on the supply of goods and services within a state. The revenue collected from SGST goes to the respective state government.

3. Integrated Goods and Services Tax (IGST): IGST is a tax levied by the Central Government on the inter-state supply of goods and services. The revenue collected from IGST is shared by the Central Government and the State Government.

The GST rate for each category of goods and services is decided by the GST Council, which is a constitutional body consisting of the Finance Ministers of the Centre and all the states. The GST rates vary from 0% to 28%, with the majority of the items being taxed at 12% or 18%.

Regular Registration: All businesses with an annual turnover of more than Rs. 40 lakhs (Rs. 10 lakhs for North Eastern and hilly states) are required to register under GST. This registration is known as regular registration.

Composition Scheme Registration: Small businesses with an annual turnover of up to Rs. 1.5 crores can opt for the composition scheme registration. Under this scheme, they need to pay a fixed percentage of tax on their turnover and file quarterly returns instead of monthly returns.

Casual Registration: Businesses that are not registered under GST but are involved in a temporary business like seasonal sales or exhibitions can opt for a casual registration. This registration is valid for 90 days and can be extended if required.

Non-Resident Registration: Non-resident taxable persons who supply goods or services in India are required to register under GST. This registration is known as non-resident registration and is valid for the duration of their business in India.

Input Service Distributor (ISD) Registration: An Input Service Distributor (ISD) is an office of the supplier of goods or services that receives tax invoices for the supply of goods or services, which are used for business purposes. This registration is required for businesses that want to distribute the credit of GST paid on such invoices to their other branches.

TDS/TCS Registration: Businesses that are required to deduct TDS (Tax Deducted at Source) or collect TCS (Tax Collected at Source) under GST are required to register for TDS/TCS registration.

These are some of the types of registrations available under GST, and businesses can choose the most suitable registration based on their specific needs and requirements.

Input Tax Credit (ITC) is an essential feature of the GST system that allows businesses to claim a credit for the GST paid on the purchase of goods or services used for business purposes. In simple terms, businesses can reduce their GST liability by claiming credit for the GST paid on their purchases.

To claim input tax credit, a business must fulfill the following conditions:

The business must be registered under GST.

The goods or services on which GST has been paid must be used for business purposes.

The supplier must have filed the GST returns and paid the GST due to the government.

The invoice or any other prescribed document must be available with the business.

The tax charged on the invoice must have been paid by the supplier to the government.

It is essential to note that input tax credit can only be claimed on goods or services used for business purposes. Input tax credit cannot be claimed on goods or services that are used for personal use or are exempt under GST.

Input tax credit can be claimed for CGST, SGST, and IGST paid on the purchase of goods or services. The credit can be utilized to offset the output GST liability of the business, which is the GST payable on the supply of goods or services. If the credit amount is higher than the output GST liability, the excess amount can be carried forward to the subsequent tax period or can be claimed as a refund.

Blocked Input Tax Credit (ITC) refers to the cases where input tax credit cannot be claimed under GST. The following are some instances where ITC is blocked:

1. Motor Vehicles: Input tax credit cannot be claimed for motor vehicles and other conveyances except in the case of transport of passengers or goods, or for the provision of certain specified services.

2. Food and Beverages: ITC cannot be claimed for food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery, unless the business is providing such services as part of its business operations.

3. Membership of Clubs: ITC cannot be claimed for membership of a club, health and fitness center, and travel benefits to employees on vacation such as Leave Travel Concession (LTC).

4. Rent-a-cab: Input tax credit is blocked for rent-a-cab services, except in certain specified circumstances.

5. Works Contract: ITC is blocked for works contract services related to the construction of immovable property, except for the construction of plant and machinery.

6. Goods or Services Used for Personal Consumption: ITC cannot be claimed for goods or services used for personal consumption.

7. Tax Paid Under Composition Scheme: ITC cannot be claimed on tax paid under the Composition Scheme.

The purpose of blocking input tax credit for certain goods and services is to avoid the misuse of the GST system and to ensure that the credit is claimed only for business purposes.

Here are the various types of GST returns along with their due dates:

GSTR-1: This return contains the details of outward supplies made by the taxpayer. It needs to be filed monthly, except for taxpayers with a turnover of up to Rs. 1.5 crores who can file it quarterly.

a. For Monthly GSTR-1: Due date is 11th of the following month
b. For Quarterly GSTR-1: Due date is 13th of the following month of the quarter

GSTR-2A: This is an auto-generated return that contains the details of purchases made by the taxpayer from its suppliers. It is available for view only.

GSTR-3B: This is a summary return that needs to be filed monthly. It contains the summary of all outward supplies, input tax credit, and tax liability.

a. For taxpayers with an aggregate turnover of more than Rs. 5 crores in the preceding financial year, the due date for filing GSTR-3B is the 20th of the following month, irrespective of the state of registration.

b. For taxpayers with an aggregate turnover of up to Rs. 5 crores in the preceding financial year, the due date is staggered as follows:

• For taxpayers registered in the states of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep: 22nd of the following month.

• For taxpayers registered in the states of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi: 24th of the following month.

GSTR-4: This return needs to be filed by taxpayers who have opted for the Composition Scheme. It is a quarterly return.

a. For Quarterly GSTR-4: Due date is 18th of the month following the quarter

GSTR-5: This return needs to be filed by non-resident taxpayers who are supplying goods or services in India.

a. For GSTR-5: Due date is 20th of the following month

GSTR-6: This return needs to be filed by Input Service Distributors (ISDs). It contains details of input tax credit received and distributed to other branches.

a. For GSTR-6: Due date is 13th of the following month

GSTR-7: This return needs to be filed by taxpayers who are required to deduct TDS (Tax Deducted at Source).

a. For GSTR-7: Due date is 10th of the following month

GSTR-8: This return needs to be filed by e-commerce operators who are required to collect TCS (Tax Collected at Source).

a. For GSTR-8: Due date is 10th of the following month

GSTR-9: This return is an annual return that contains details of all inward and outward supplies made during the financial year.

a. For GSTR-9: Due date is 31st December following the end of the financial year

GSTR-10: This return needs to be filed by taxpayers who have surrendered their GST registration.

a. For GSTR-10: Due date is within three months of the date of cancellation or order of cancellation, whichever is later.

GSTR-11: This return needs to be filed by taxpayers who have been issued a Unique Identification Number (UIN) to claim a refund of taxes paid on their purchases. Unique Identity Number is a special classification made for foreign diplomatic missions and embassies who are not liable to taxes in Indian territory.

a. For GSTR-11: Due date is 28th of the month following the month for which the statement is filed.

Late fees are charges levied on taxpayers for delayed filing of their GST returns. The late fees under GST vary depending on the type of return and the period of delay. Here are the current late fee charges under GST:

GSTR-3B: The late fee for delayed filing of GSTR-3B is as follows:

• NIL Return -> Rs 20 per Day  (Rs. 10 per day for CGST and Rs. 10 per day for SGST)

• Otherwise  -> Rs 50 per Day  (Rs. 25 per day for CGST and Rs. 25 per day for SGST)

In case the GST dues are not paid within the due date, interest at 18% per annum is payable on the amount of outstanding tax to be paid.

GSTR-1:The late fee for delayed filing of GSTR-1 is as follows:

• In case of nil GSTR-1 filing

  • Rs 20 per Day  (Rs. 10 per day for CGST and Rs. 10 per day for SGST)

  • Subject to maximum late fee of  Rs. 500  (Rs 250 for CGST+Rs 250 for SGST) per return.

• For other than nil GSTR-1 filing

  • • Rs 50 per Day  (Rs. 25 per day for CGST and Rs. 25 per day for SGST)

    • Subject to maximum late fee

      • • If annual turnover in the previous financial year is up to 1.5 Crore Rs. 2000 (Rs1000 for CGST+Rs1000 for SGST) per return.

        • If annual turnover in the previous financial year is between1.5 Crore & 5 Crore  Rs. 5000 (Rs2500 for CGST+Rs2500 for SGST) per return.

        • If annual turnover in the previous financial year more than 5 Crore Rs. 10000 (Rs5000 for CGST+Rs5000 for SGST) per return.

GSTR-4: The late fee for delayed filing of GSTR-4 is Rs. 50 per day (Rs. 25 per day for CGST and Rs. 25 per day for SGST)
Maximum late fee is Rs. 500 per return.

GSTR-5: The late fee for delayed filing of GSTR-5 is as follows

• Nil Return - Rs. 50 per day (Rs. 25 per day for CGST and Rs. 25 per day for SGST)

•  Other than Nil return Rs. 50 per day (Rs. 25 per day for CGST and Rs. 25 per day for SGST) 

• Subject to Maximum Late fee of  Rs 5000 (Rs2500 for CGST+Rs2500 for SGST) per return.

It's important to note that the maximum late fee under GST is capped at Rs. 5,000 per return. Additionally, the late fee can only be paid using cash ledger, and it cannot be offset against any input tax credit.

The e-way bill is an electronic document generated on the GSTN (Goods and Services Tax Network) portal for the movement of goods. It is required for the movement of goods worth more than Rs. 50,000 within the state or from one state to another. The e-way bill contains details such as the name of the consignor, consignee, invoice number, tax rates, and other relevant information.

Link to generate E-Way bill - https://ewaybillgst.gov.in/Login.aspx

Here are some key points to know about e-way bills under GST:

1. E-way bill is mandatory for the movement of goods worth more than Rs. 50,000 within the state or inter-state.

2. E-way bill must be generated before the commencement of movement of goods. If the transporter fails to generate the e-way bill, he can be penalized.

3. The validity of the e-way bill depends on the distance between the consignor and consignee. For distances up to 100 km, the validity is one day. For every 100 km or part thereof thereafter, one additional day is allowed.

4. The e-way bill can be generated by the consignor, consignee, or transporter.

5. The e-way bill can be cancelled within 24 hours of its generation, except for when it has been verified during transit.

6. If the e-way bill is not cancelled and goods are not transported within the validity period, a new e-way bill has to be generated.

7. The e-way bill system is integrated with the GST portal, and the details filled in the e-way bill are auto-populated in the GSTR-1 return.

Overall, the e-way bill system under GST aims to ensure transparency in the movement of goods, prevent tax evasion, and make compliance easier for businesses.

Bill To and Ship To under E-way Bill

Under “Bill To Ship To” model of supply, there are three persons involved in a transaction:

1. ‘A’ is the person who has ordered ‘B’ to send goods directly to ‘C’

2. ‘B’ is the person who is sending goods directly to ‘C’ on behalf of ‘A’

3. ‘C’ is the recipient of goods

Here two supplies are involved and two tax invoices are required to be issued:   

• Invoice -1, which would be issued by ‘B’ to ‘A’   

• Invoice -2 which would be issued by ‘A’ to ‘C’

Case -1: Where e-Way Bill is generated by ‘B’

The following fields shall be filled in Part A of GST FORM EWB-01:

1. Bill From --> In this field details of ‘B’ are supposed to be filled

2. Dispatch From--> This is the place from where goods are actually dispatched. It may be the principal or additional place of business of ‘B’

3. Bill To --> In this field details of ‘A’ are supposed to be filled

4. Ship To --> In this field address of ‘C’ is supposed to be filled

5. Invoice Details --> Details of Invoice-1 are supposed to be filled

Case -2: Where e-Way Bill is generated by ‘A’

The following fields shall be filled in Part A of GST FORM EWB-01:

1. Bill From --> In this field details of ‘A’ are supposed to be filled

2. Dispatch From --> This is the place from where goods are actually dispatched. It may be the principal or additional place of business of ‘B’

3. Bill To -->  In this field details of ‘C’ are supposed to be filled

4. Ship To  -->  In this field address of ‘C’ is supposed to be filled

5. Invoice Details -->  Details of Invoice-2 are supposed to be filled

Delivery at a different place

There are certain circumstances under which the goods being transferred are sent to a location other than the location of the purchaser (registered address). Below are some examples of peculiar circumstances where a buyer may ask for delivery at a different location or to a third party:

Buyer requires delivery at one of his warehouses which is at a location other than his registered office.
Buyer (trading business) requires delivery of goods directly to one of his customer’s locations (third party).
Buyer requires delivery of goods to a specially designed storage facility (cold storage, customs warehouse, etc.)
Buyer requires delivery of goods to an institutional customer to whom he has already sold the goods further who is at a different location.
Buyer’s customer is a retail chain and requires delivery of goods to various outlets.

Under all the above-stated circumstances, the ‘Bill to’ and ‘Ship to’ address as in the GST invoice shall be different. As the customer buying the goods has his billing address at his registered office address whereas the goods are shipped to a different address. 

This address is required while generating the Eway Bill for transfer of goods. While generating the Eway bill, the person should clearly mention the GSTIN of the buyer and the delivery location. The delivery location mentioned there shall be the actual delivery location where the goods are to be delivered and not the billing location (in case the delivery location is different from the billing address).

E-invoicing is a system under GST (Goods and Services Tax) in India where businesses generate and authenticate their invoices electronically on a central government portal called the Invoice Registration Portal (IRP). The purpose of e-invoicing is to facilitate faster and accurate reporting of invoices to GST authorities and to streamline the overall tax compliance process.

The e-invoicing process involves the following steps:

1. Generate an invoice in the accounting or billing software of the taxpayer.

2. The software will then send the invoice details to the Invoice Registration Portal (IRP).

3. The IRP will generate a unique Invoice Reference Number (IRN) and a QR code for the invoice.

4. The IRN and QR code will then be sent back to the taxpayer’s software, which will be included in the invoice.

5. The invoice is then issued to the customer along with the IRN and QR code.

E-invoicing is currently mandatory for businesses with an annual turnover of more than INR 10 crores. However The finance ministry has decided to lower the threshold for mandatory e-invoicing under the goods and services tax (GST) to Rs 5 crore from the Rs 10 crore at present, effective August 1, a move that will help improve the tax collections further. This means that if your aggregate turnover exceeds 5 crore in any of the previous 5 years, then E-invoicing would be applicable to your business. Additionally, please note that for the purpose of the aggregate turnover limit, even the exempted turnover would be considered.

E-invoicing has several benefits, including reducing errors and mismatches in data, improving the accuracy of GST returns, and reducing the need for manual data entry.

RCM stands for Reverse Charge Mechanism. Under the GST (Goods and Services Tax) regime, RCM is a provision that shifts the liability to pay tax from the supplier to the recipient of goods or services. In other words, under RCM, the recipient of the goods or services is required to pay the tax directly to the government, instead of the supplier.