What is GST (Goods and Services Tax)?
- GST (Goods and Services Tax)
- GST is India's unified indirect tax introduced in July 2017, replacing VAT, Service Tax, and Central Excise, levied on the supply of goods and services across the country.
GST Structure in India
India's GST has four rates: 0%, 5%, 12%, 18%, and 28% (with cess on luxury/demerit goods). For intra-state supply, CGST (Central) and SGST (State) each charge half the applicable rate. For inter-state supply, IGST (Integrated) charges the full rate. Businesses register in each state where they have a nexus.
GST Registration and Compliance
Businesses with annual turnover above ₹40L (goods) or ₹20L (services) must register for GST. Registered taxpayers file GSTR-1 (outward supplies), GSTR-3B (summary self-assessment), and GSTR-9 (annual return). ERPNext automates invoice-level GST calculation, e-invoice generation, and return data preparation.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
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