{"id":2225,"date":"2020-02-20T16:43:18","date_gmt":"2020-02-20T11:13:18","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?post_type=pillar_page&#038;p=2225"},"modified":"2020-03-04T15:59:20","modified_gmt":"2020-03-04T10:29:20","slug":"gst-pillar-page","status":"publish","type":"pillar_page","link":"https:\/\/razorpay.com\/learn\/pillar_page\/gst-pillar-page\/","title":{"rendered":"GST Pillar Page"},"content":{"rendered":"<!-- LIVE DOC -->\r\n\r\n<div class=\"navigate-page\">\r\n  <span class=\"title\">Overview\/Features<\/span>\r\n  <div class=\"navigate-page-list\">\r\n    <a href=\"#post-1\" class=\"item featured\">\r\n      <div class='tag' style=\"background-image:url('https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/featured-tag.png')\"><\/div>\r\n      <img src='https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/gst-main.png' alt='Gst'>\r\n      <span>What is GST?<\/span>\r\n    <\/a>\r\n    <a href=\"#post-2\" class=\"item\">\r\n      <img src='https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/gst-main.png' alt='Gst'>\r\n      <span>What is GSTT?<\/span>\r\n    <\/a>\r\n    <a href=\"#post-3\" class=\"item\">\r\n      <img src='https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/gst-main.png' alt='Gst'>\r\n      <span>What is GSTTT?<\/span>\r\n    <\/a>\r\n    <a href=\"#post-4\" class=\"item\">\r\n      <img src='https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/gst-main.png' alt='Gst'>\r\n      <span>What is GSTTTT?<\/span>\r\n    <\/a>\r\n  <\/div><\/div>\r\n\r\n\r\n\r\n<div class=\"floating-nav\">\r\n  <p>Topics Name<\/p>\r\n  <ul>\r\n    <a href=\"#post-1\"><li class=\"item\">\r\n      <span>What is GST?<\/span>\r\n    <\/li><\/a>\r\n    <a href=\"#post-2\"><li class=\"item\">\r\n      <span>GST Rules for Indian Startups.<\/span>\r\n    <\/li><\/a>\r\n    <a href=\"#post-3\"><li class=\"item\">\r\n      <span>Reverse Charge Mechanism.<\/span>\r\n    <\/li><\/a>\r\n    <a href=\"#post-4\"><li class=\"item\">\r\n      <span>What are HSN &amp; SAC Codes?<\/span>\r\n    <\/li><\/a>\r\n  <\/ul>\r\n<\/div>\r\n\r\n\r\n<h2 id=\"post-1\">What is the GST?<\/h2>\r\n<p>GST, the Goods and Services Tax, is an indirect tax in India. As the name suggests, the tax is levied on the sale of goods as well as services in the country.<\/p>\r\n<p>GST is known as a comprehensive tax because it has replaced most other indirect taxes like service tax, value added tax (VAT), central excise duty, additional customs duty, surcharges and octroi. Unlike these previous taxes, GST is collected at the point of consumption and not at the point of origin.<\/p>\r\n<p>GST is imposed at every step in the process of production of a particular good or service. This tax came into force on 1 July 2017. The aim of GST was to simplify the indirect taxation process in India and increase the ease of running a business within the country.<\/p>\r\n\r\n\r\n<section class=\"promotional-blockquote\">\r\n       <div class=\"promotional-blockquote-img\">\r\n         <img decoding=\"async\" src=\"https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/trazorpay-1.jpg\">\r\n     <\/div>\r\n       <div class=\"promotional-blockquote-desc\">\r\n           <p class=\"desc\">Being an early stage startup founder is probably the toughest job in the world.<\/p>\r\n           <p class=\"name\"><span>Shailendra J Singh<\/span> | Managing Director, Sequoia Capital (India) Singapore<\/p>\r\n        <a class=\"social-icon twitter\" style=\"background-image:url(&quot;https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/tweet.png&quot;)\" href=\"https:\/\/twitter.com\/intent\/tweet?text=%E2%80%9CBeing%20an%20early%20stage%20startup%20founder%20is%20probably%20the%20toughest%20job%20in%20the%20world.%E2%80%9D%20Shailendra%20J%20Singh%20%7C%20Managing%20Director%2C%20Sequoia%20Capital%20(India)%20Singapore\" target=\"_blank\" rel=\"noopener noreferrer\"><\/a>\r\n       <\/div>\r\n\r\n  <div class=\"abs-top-right\">\r\n<svg version=\"1.1\" id=\"Layer_1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" x=\"0\" y=\"0\" viewBox=\"0 0 88.9 120.7\" xml:space=\"preserve\" enable-background=\"new 0 0 88.9 120.7\"><style>.st2{opacity:.3381;fill-rule:evenodd;clip-rule:evenodd;fill:#4adedb;enable-background:new}<\/style><defs><filter id=\"Adobe_OpacityMaskFilter\" filterUnits=\"userSpaceOnUse\" x=\"-4\" y=\"-218.7\" width=\"229.2\" height=\"367.2\"><feColorMatrix values=\"1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0\"><\/feColorMatrix><\/filter><\/defs><mask maskUnits=\"userSpaceOnUse\" x=\"-4\" y=\"-218.7\" width=\"229.2\" height=\"367.2\" id=\"mask0_1_\"><path fill=\"#fff\" filter=\"url(#Adobe_OpacityMaskFilter)\" d=\"M-3.1.1h92v124h-92z\"><\/path><\/mask><g mask=\"url(#mask0_1_)\"><path class=\"st2\" d=\"M223.4-55.1c4-8.5 1.3-19.4-6.2-24.5L120.9-146c-8.3-5.8-19-2-22.7 8L28.6 51.5c-2.9 7.7-.6 16.8 5.4 22l86.2 73.6c2.8 2.5 6.8 1.6 8.4-1.8l94.8-200.4z\"><\/path><path class=\"st2\" d=\"M192.1-125.1c4-8.5 1.3-19.4-6.2-24.5L89.5-216c-8.3-5.8-19-2-22.7 8L-2.8-18.5c-2.8 7.7-.5 16.8 5.5 22L88.9 77c2.8 2.5 6.8 1.6 8.4-1.8l94.8-200.3z\"><\/path><\/g><\/svg>\r\n  <\/div>\r\n<\/section>\r\n\r\n\r\n\r\n<blockquote class=\"large-blockquote\">\r\n   <div class=\"content\"> Being an early stage startup founder is probably the toughest job in the world.<\/div>\r\n   <div class=\"subtext\">&#8211; <span>Shailendra J Singh<\/span>, Managing Director, Sequoia Capital (India) Singapore<\/div>\r\n<\/blockquote>\r\n\r\n\r\n\r\n<section class=\"full-width-banner ready\">\r\n   <article>\r\n       <h2>Ready to Start Accepting Payments Online?<\/h2>\r\n       <form class=\"signup-form\" action=\"https:\/\/dashboard.razorpay.com\/#\/access\/signup?utm_source=pillar-page\">\r\n           <input type=\"email\" placeholder=\"Your email address\" name=\"email\" required=\"\">\r\n           <button type=\"submit\">Sign Up<\/button>\r\n       <\/form>\r\n       <div class=\"list\">\r\n           <ul>\r\n               <li>Quick Onboarding<\/li>\r\n               <li>Saved Card Database<\/li>\r\n           <\/ul>\r\n           <ul>\r\n               <li>Razorpay Checkout<\/li>\r\n               <li>24&#215;7 Support<\/li>\r\n           <\/ul>\r\n       <\/div>\r\n   <\/article>\r\n<div class=\"abs-bottom-right\">\r\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 129.5 380.5\" enable-background=\"new 0 0 129.5 380.5\"><defs><filter id=\"a\" filterUnits=\"userSpaceOnUse\" x=\"-241.7\" y=\"-39.4\" width=\"371.2\" height=\"559.7\"><feColorMatrix values=\"1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0\"><\/feColorMatrix><\/filter><\/defs><mask maskUnits=\"userSpaceOnUse\" x=\"-241.7\" y=\"-39.4\" width=\"371.2\" height=\"559.7\" id=\"b\"><path fill=\"#c4c4c4\" filter=\"url(#a)\" d=\"M0-31.3h137v442H0z\"><\/path><\/mask><g mask=\"url(#b)\"><path d=\"M-145.9-31.1c1-5.9 6.8-9.6 12.5-7.9l255.7 74.4c5.8 1.7 8.7 8.1 6.3 13.6L-34.1 410c-1.5 3.3-4.7 5.5-8.3 5.8l-164.1 12.5c-.8.1-1.6 0-2.4-.1l-2.2-.4c-5.4-.9-9.1-6-8.2-11.4l73.4-447.5z\" opacity=\".338\" fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#4adedb\" enable-background=\"new\"><\/path><path d=\"M-168.5 67.4c1.7-10.1 11.8-16.5 21.7-13.7l239.9 69.8c10 2.9 15.1 14 10.8 23.4L-53.6 496.6c-2.6 5.7-8.1 9.6-14.3 10l-159.6 12.1c-.9.1-1.9 0-2.8-.1h0c-6.5-1.1-10.9-7.2-9.8-13.7l71.6-437.5z\" fill=\"none\" stroke=\"#4cead8\" stroke-width=\"3\"><\/path><\/g><\/svg>\r\n<\/div>\r\n<div class=\"abs-top-left\">\r\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 129.5 380.5\" enable-background=\"new 0 0 129.5 380.5\"><defs><filter id=\"a\" filterUnits=\"userSpaceOnUse\" x=\"-241.7\" y=\"-39.4\" width=\"371.2\" height=\"559.7\"><feColorMatrix values=\"1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0\"><\/feColorMatrix><\/filter><\/defs><mask maskUnits=\"userSpaceOnUse\" x=\"-241.7\" y=\"-39.4\" width=\"371.2\" height=\"559.7\" id=\"b\"><path fill=\"#c4c4c4\" filter=\"url(#a)\" d=\"M0-31.3h137v442H0z\"><\/path><\/mask><g mask=\"url(#b)\"><path d=\"M-145.9-31.1c1-5.9 6.8-9.6 12.5-7.9l255.7 74.4c5.8 1.7 8.7 8.1 6.3 13.6L-34.1 410c-1.5 3.3-4.7 5.5-8.3 5.8l-164.1 12.5c-.8.1-1.6 0-2.4-.1l-2.2-.4c-5.4-.9-9.1-6-8.2-11.4l73.4-447.5z\" opacity=\".338\" fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#4adedb\" enable-background=\"new\"><\/path><path d=\"M-168.5 67.4c1.7-10.1 11.8-16.5 21.7-13.7l239.9 69.8c10 2.9 15.1 14 10.8 23.4L-53.6 496.6c-2.6 5.7-8.1 9.6-14.3 10l-159.6 12.1c-.9.1-1.9 0-2.8-.1h0c-6.5-1.1-10.9-7.2-9.8-13.7l71.6-437.5z\" fill=\"none\" stroke=\"#4cead8\" stroke-width=\"3\"><\/path><\/g><\/svg>\r\n<\/div>\r\n<\/section>\r\n\r\n\r\n<h2>GST tax slabs<\/h2>\r\n<p>GST has been dividend into the following slabs \u2013 0%, 5%, 12%, 18% and 28%.Certain products and services like petroleum products, alcoholic drinks and electricity do not come under GST. These products and services are taxed by the individual State Governments, as per their tax policies.<\/p>\r\n<h2>GST Council<\/h2>\r\n<p>The rules and regulations that form GST are governed by a government body called the GST Council. This council is made up of the finance ministers of the Central as well as different State Governments.<\/p>\r\n<p>The Council is chaired by the Union Finance Minister and is tasked with revisions, regulations and rates that may apply to the GST law.<\/p>\r\n\r\n\r\n<div class=\"promotional-ebook\" style=\"background-image: url('https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/promotional-ebook-bg.png\">\r\n<h3>The Ultimate Guide for all GST queries<\/h3>\r\n<span>Guide to Improving Your Checkout Success Rates<\/span>\r\n<a class=\"download-ebook blue-button\" href=\"#\">Download E-Book<\/a>\r\n<\/div>\r\n\r\n\r\n\r\n<section class=\"info-section-large-height\" style=\"background-image: url('');\">\r\n   <article>\r\n       <section>\r\n           <header>The Ultimate Guide to Improving Your Checkout and Payment Success Rates.<\/header>\r\n           <summary>Guide to Improving Your Checkout Success Rates<\/summary>\r\n       <\/section>\r\n   <\/article>\r\n   <article>\r\n       <section class=\"tile-container\">\r\n           <div class=\"tiles\">\r\n             <div class=\"content\">\r\n               <img decoding=\"async\" src=\"https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/book-2.png\" tabindex=\"0\">\r\n             <\/div>\r\n               <div class=\"content-right\">\r\n<span class=\"title\">Bank Bazaar<\/span><a href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">Download E-Book<\/a><\/div>\r\n           <\/div>\r\n           <div class=\"tiles\">\r\n              <div class=\"content\">\r\n               <img decoding=\"async\" src=\"https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/book-2.png\" tabindex=\"0\">\r\n               <\/div>\r\n               <div class=\"content-right\">\r\n                <span class=\"title\">Bank Bazaar<\/span>\r\n<a href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">Download E-Book<\/a><\/div>\r\n           <\/div>\r\n           <div class=\"tiles\">\r\n             <div class=\"content\">\r\n               <img decoding=\"async\" src=\"https:\/\/razorpay.com\/learn-content\/uploads\/2020\/03\/book-2.png\" tabindex=\"0\">\r\n               <\/div>\r\n               <div class=\"content-right\">\r\n<span class=\"title\">Bank Bazaar<\/span><a href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">Download E-Book<\/a><\/div>\r\n               \r\n           <\/div>\r\n       <\/section><\/article>\r\n      <div class=\"abs-top-right\">\r\n   <svg version=\"1.1\" id=\"Layer_1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" x=\"0\" y=\"0\" viewBox=\"0 0 88.9 120.7\" xml:space=\"preserve\" enable-background=\"new 0 0 88.9 120.7\"><style>.st2{opacity:.3381;fill-rule:evenodd;clip-rule:evenodd;fill:#4adedb;enable-background:new}<\/style><defs><filter id=\"Adobe_OpacityMaskFilter\" filterUnits=\"userSpaceOnUse\" x=\"-4\" y=\"-218.7\" width=\"229.2\" height=\"367.2\"><feColorMatrix values=\"1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0\"><\/feColorMatrix><\/filter><\/defs><mask maskUnits=\"userSpaceOnUse\" x=\"-4\" y=\"-218.7\" width=\"229.2\" height=\"367.2\" id=\"mask0_1_\"><path fill=\"#fff\" filter=\"url(#Adobe_OpacityMaskFilter)\" d=\"M-3.1.1h92v124h-92z\"><\/path><\/mask><g mask=\"url(#mask0_1_)\"><path class=\"st2\" d=\"M223.4-55.1c4-8.5 1.3-19.4-6.2-24.5L120.9-146c-8.3-5.8-19-2-22.7 8L28.6 51.5c-2.9 7.7-.6 16.8 5.4 22l86.2 73.6c2.8 2.5 6.8 1.6 8.4-1.8l94.8-200.4z\"><\/path><path class=\"st2\" d=\"M192.1-125.1c4-8.5 1.3-19.4-6.2-24.5L89.5-216c-8.3-5.8-19-2-22.7 8L-2.8-18.5c-2.8 7.7-.5 16.8 5.5 22L88.9 77c2.8 2.5 6.8 1.6 8.4-1.8l94.8-200.3z\"><\/path><\/g><\/svg>\r\n      <\/div>\r\n      <div class=\"abs-bottom-left\">\r\n        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"91\" height=\"303\" fill=\"none\"><mask id=\"a\" maskUnits=\"userSpaceOnUse\" x=\"10\" y=\"6\" width=\"81\" height=\"283\"><path transform=\"rotate(180 91 289)\" fill=\"#fff\" d=\"M91 289h81v283H91z\"><\/path><\/mask><g mask=\"url(#a)\" fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#4ADEDB\"><path opacity=\".338\" d=\"M-182.38 183.291c-4.712 7.557-1.986 16.849 6.202 21.135l132.394 69.303c9.427 4.935 21.907 1.167 26.317-7.946l92.972-192.13c3.292-6.803.985-14.557-5.6-18.825L-45.632-20.051c-3.66-2.484-9.087-1.401-11.376 2.27L-182.38 183.291z\"><\/path><path opacity=\".338\" d=\"M-174.38 254.118c-4.712 7.557-1.985 16.848 6.202 21.134l132.395 69.304c9.426 4.935 21.906 1.166 26.316-7.946l92.972-192.13c3.292-6.803.985-14.557-5.6-18.825l-115.536-74.88c-3.66-2.483-9.087-1.4-11.376 2.27L-174.38 254.119z\"><\/path><\/g><\/svg>\r\n     <\/div>\r\n    <\/section>\r\n\r\n\r\n<h2>GST HSN and SAC Codes<\/h2>\r\n<p>All businesses that are registered in India have to file GST returns every month, quarter and\/or year. The type of returns that need to be filed vary from business to business. A GST return is typically a document that carries details about the income earned by the business.<\/p>\r\n<p>The return has to be filed with the Income Tax Department. What is important here is that to file GST returns, a business needs to have GST-compliant invoices of their sales and purchases. Such GST-compliant invoices can be generated easily using Razopay <a href=\"https:\/\/razorpay.com\/invoices\/\">Invoices<\/a>.<\/p>\r\n<p>There are different types of GST returns that need to be filed either every month or every quarter. For example, GSTR-1 has to be filed every month with the details of outward supplies of goods or services. On the other hand, GSTR-4 is a quarterly return that needs to be filed by a business that is registered under the composition scheme.<\/p>\r\n\r\n\r\n<ul class=\"list-common\">\r\n  <li>Supply from an unregistered dealer to a registered dealer<\/li>\r\n  <li>Supply of specific goods listed by CBIC<\/li>\r\n  <li>Services through an e-commerce company<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<span class=\"link-page\">Read this detail article on <a href=\"#\">merits and demerits of the GST Composition Scheme.<\/a><\/span>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/localhost:8888\/pillar-pages\/wp-content\/uploads\/2019\/11\/average-fruit-consumptio.png\" alt=\"\" class=\"wp-image-2163\"\/><\/figure>\r\n\r\n\r\n\r\n<div class=\"rules-list\">\r\n  <p class=\"title\">GST rules for startups<\/p>\r\n  <p class=\"desc\">GST offers a wide range of benefits to start-ups. Some of these include the following:<\/p>\r\n  <ul class=\"list-common\">\r\n    <li>\r\n      <span class=\"number\">01.<\/span>\r\n      Simple tax processes: As start-ups have tight budgets and tighter deadlines, they cannot always afford to spare resources to oversee a myriad of tax compliances that fall under VAT, excise, service tax, CST, and so on. With GST in place, most of these taxes are eliminated, making it much easier for them to be on top of filing their taxes and returns. Furthermore, start-ups that deal with services and goods together just need to file a single tax instead of different ones.\r\n  <\/li>\r\n  <li>\r\n    <span class=\"number\">02.<\/span>\r\n    Simple online procedures: Gone are the days when people had to run around tax offices, waiting in lines day in and out only to be told to come back the next day. Now, the procedure occurs online, making it not only simple, but also extremely quick. If you keep all your documents in perfect order, then filing your taxes becomes a task that\u2019s reduced to a few simple clicks.\r\n  <\/li>\r\n  <li>\r\n    <span class=\"number\">03.<\/span>\r\n    Ease of business for ecommerce sites: With ecommerce services being a big sector in India, the implementation of GST has been a huge boon. Let us say you are an online marketplace that delivers goods all over the country. With different VAT laws in different states, you were required to file various tax documents accurately and on time. With GST, this issue is totally eliminated\r\n    <\/li>\r\n  <\/ul>\r\n  <span class=\"link-page\">Read this detail article on <a href=\"#\">merits and demerits of the GST Composition Scheme.<\/a><\/span>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"<p>Overview\/Features What is GST? What is GSTT? What is GSTTT? What is GSTTTT? Topics Name What is GST? GST Rules for Indian Startups. Reverse Charge Mechanism. What are HSN &amp; SAC Codes? What is the GST? GST, the Goods and Services Tax, is an indirect tax in India. As the name suggests, the tax is<\/p>\n","protected":false},"author":151156462,"featured_media":2281,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":[],"class_list":["post-2225","pillar_page","type-pillar_page","status-publish","format-standard","has-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/pillar_page\/2225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/pillar_page"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/pillar_page"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156462"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=2225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/2281"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=2225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}