When Does GST Apply to the Top Five Sectors?
Goods and Services Tax (GST) is one of the most significant tax reforms in India, streamlining indirect taxes into a unified structure. It applies across industries, ensuring transparency and ease of doing business. However, the application of GST varies based on the sector. Understanding these nuances is crucial for professionals and businesses, particularly those pursuing structured learning like the GST course in Ahmedabad offered by Six Sense. Let’s explore when GST applies to the top five sectors: 1. E-commerce Sector E-commerce platforms have revolutionized retail but also brought complexities to tax compliance. GST applies to: Sales and Services : GST is levied on goods and services sold through e-commerce platforms. Reverse Charge Mechanism : In specific cases, GST is paid by the platform instead of the seller. Threshold Limits : GST registration is mandatory for e-commerce operators, irrespective of turnover. Key Insight : Detailed knowledge of these rules is essential fo...