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Goods transport agency means any person who provides service in respect of transportation of goods by road and issues consignment note, by whatever name called.

Though this term has not been explained under GST, if we refer to accounting, reconciliation is the process of securing that two sets of records i.e. the balances of two accounts are in alignment. Reconciliation is used to ensure that the money deducting from an account matches the actual money spent which is done by making sure that the balances match at the end of a particular accounting period. Reconciliation holds importance under taxation because it can give rise to tax under paid or over paid or not paid.

A works contract is a contract of service which may also include supply of goods in the contract. Basically, works contract is a composite supply of both goods and services.

Government has proposed to make changes in GST rates in various sectors affecting mainly textiles, footwear and e-commerce businesses from 1^st January 2022.

Government had introduced a new option to small taxpayers at the starting of year 2021. The option was to allow taxpayers to file quarterly GST returns instead of monthly.

GST is a type of indirect tax levied on the supply of products and services. It came into existence in the year 2017 to eliminate the tax on tax.