Shipping and logistics Statues & Obligations

Registration under gst law

- registration of any business entity under the

gst law implies obtaining a unique number from
the concorned tax authorities for the purpose of
collecting tax on behalf of the government
and to avail input tax credit for the taxes
on his inward supplies

registration gst website - www.gst.gov.in

small buisness below 40 lakh need not registter

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Chapter - 6

Input tax credit and records /

accounts to be maintained by taxpayers

input meaning in input tax credit and recods

when for manufacturing you buying
rawmaterial components and other expenses
you are paying gst on that products you want
fill this all gst input details in your inpuut tax

you get that gst credit in your gst account

fibre - 12% gst 100 - 12 % = 112 Rs

/
yarn - 12% GST 112 -12 % = 125.44
/
Fabric - 12% GST 125.44 - 12% = 140.50
/
Shirt - 12% GST 140.50 -12% = 157

IGST APPLICABLE ON IMPORT EXPORT PRODUCTS

On alcohol And other products all that products

who are still in exice duty on that all products
gst not applicable

If you pay gst on export products then your

product cost will be increase and with high
price sell products in market will be tough

for that indian government removed GST

for export products

prodcut cost - 7300000

gst - 8 76 000

total cost - 81 76 000

FOR THAT
- INPUT TAX CREDIT MECHANISM
UNDER GST

HOW TO USE ITC FOR TAX PAYMENT

-IGST CAN BE PAID BY USING ITC

FROM IGST CGST AND SGST

- CGST CAN BE PAID BY USING ITC

FROM CGST AND IGST

-SGST CAN BE PAID BY USING ITC

FROM SGST AND IGST

3 Ledgers under Gst

Following 3 Ledgers will be genrated

1 - Electronic Cash Ledger

2. Electronic Credit Ledger

3. - E-liability Register

Suppose if we have liability 100000 and we have

90000 credit then we want to pay remaining
10000 balance through electronic cash
ledger

Electronic cash ledger work as like e-walllet of

gst

Elctronic credit ledger balance will be able to utilize

the balance shown in this account only for payment
of tax

E-liability ledger will show the total tax liability of a tax payer
after netting off for the particular

TYPES OF GST RETURNS

GSTR - 1

GSTR -1 Is the return to be furnished for reporting details of all

outward suppliers of goods and services made or in other words
sales transctions made during a tax period and also for reporting
and credit notes

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CH- 7 - EXPORTS UNDER GST

Under GST goods or services could be exported under

- bond or letter of undertaking without payment of integrated

gst followed by claim of refund of unutilized input tax credit

OR

- on payment of integrated tax with provision for refund

of the tax paid

LUT

- Exporter shall fill and submit form GST RFD 11 on

the common portal

-Acknowledgment genrated online - ARN ( Application

REfrence Number ) id genrated online

- no document required to be submitted physically to the

justictional office for acceptance of the LUT

-LUT deemed to have been accepted after genration of ARN

Formula For Grant of Refund

Suppose in your buisnee you get raw material

1 lakh usd