https://www.taxtmi.com/article/detailed?id=1459 Registered businesses must charge GST on taxable supplies and may claim input tax credits on purchases; compulsory registration arises when turnover exceeds the threshold, with voluntary registration permitted below it. GST is reconciled by offsetting GST charged against GST paid in regular return periods to determine net payment or refund. Exports are zero-rated permitting input recovery, while exempt supplies do not allow input claims. Compliance includes correct application of the prevailing rate, record keeping, and headline consumer pricing that is GST inclusive except where wholesale pricing is appropriate. en-us Wed, 05 Oct 2011 19:46:18 +0530 Wed, 04 Feb 2015 19:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1459 Registered businesses must charge GST on taxable supplies and may claim input tax credits on purchases; compulsory registration arises when turnover exceeds the threshold, with voluntary registration permitted below it. GST is reconciled by offsetting GST charged against GST paid in regular return periods to determine net payment or refund. Exports are zero-rated permitting input recovery, while exempt supplies do not allow input claims. Compliance includes correct application of the prevailing rate, record keeping, and headline consumer pricing that is GST inclusive except where wholesale pricing is appropriate. Articles Goods and Services Tax - GST Wed, 05 Oct 2011 19:46:18 +0530 https://www.taxtmi.com/article/detailed?id=1459