Place of Supply (PoS) in GST determines whether a transaction is taxed as intra-state (CGST + SGST) or inter-state (IGST). For goods, PoS is generally the delivery location. For services, it is typically the registered recipient’s location. In 2026, the rules changed significantly for intermediaries: cross-border intermediary services now use the recipient’s location, allowing them…
Goods and Service Tax is a game changer because, with its implementation, there is a tremendous outflow of benefits. Earlier in India, there were numerous taxes such as Service Tax, VAT, Excise and many others that were ultimately borne by consumers leading to double taxation or having cascading effect. Post GST, around 17 taxes are subsumed…
Quick Answer: A GST return is a mandatory periodic document detailing a business’s sales, purchases, and tax liability. The most critical returns for regular taxpayers are GSTR-1 (reporting outward sales) and GSTR-3B (summary return for tax payment and ITC claims). Filing is required even if sales are zero (NIL return), and missing three consecutive filings…
If sell products or services in India, you must be issuing invoice to your customers. Every business in India needs to know about the new GST invoice rules going forward. In this article, we’ve explained how to create GST invoice, various components that must be there on invoice, format of GST invoice and much more.…
I’ll never forget September 22nd, 2025. That Sunday morning, my phone started buzzing at 6 AM with panicked WhatsApp messages from business owners across the country. “Mohnish bhai, everything has changed overnight!” “My entire pricing structure is wrong!” “I don’t even know what GST rate to charge anymore!” You know what hit me that morning?…
At ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered Levy and Exceptions under GST and Tax payments under…
GST tax payments are where compliance either holds together or falls apart for small businesses in India. Filing returns is one thing — actually settling your tax liability correctly, on time, and through the right ledger is where most owners get tripped up. As of 2026, the GST portal has shifted toward system-driven enforcement,…
The GST impact on e-commerce business in India has shifted dramatically since the early days of implementation. What started as a registration headache in 2017 has evolved into a data-driven compliance ecosystem where real-time matching, automated TCS deductions, and tightened return reconciliation leave almost zero room for error. In practice, I see many e-commerce…
GST Registration Process 2025 with New GST Slabs and GST 2.0 Reforms Picture this: It’s Monday morning, September 23rd, 2025, and Raj’s phone hasn’t stopped ringing. His textile business in Delhi crossed ₹40 lakhs last month, and suddenly every supplier wants to know his GSTIN. But here’s the twist – overnight, the entire GST landscape…
GST Levy refers to when tax becomes payable on a supply of goods or services under the CGST and IGST Acts, 2017. GST Exemption refers to specific goods or services on which GST is not charged as notified by the government. Understanding both is critical for small businesses navigating the Rs. 40 lakh threshold…