GST Number Just like how every individual with a registered PAN card ID or an Income Tax ID has been allotted a specific number with regards to their registration, every individual/business entity registered on the GST portal is assigned a specific number once their registration is...
GST State Code While getting your business entity registered on the GST portal, there will be a temporary GST number and then after 7 working days, a permanent GST number will be allotted to you, given that all your documents have been approved. The GST number...
Reverse Charge under GST The Goods and Services Tax has been a transformation in the Indian Economy System, changing the way business has been carried out for years. Earlier, a business would have to pay tax under various heads such as VAT, Indirect Tax, Service tax,...
GST Invoice Format With the annual return filing date coming closer it is necessary to ensure that you are preparing your GST Tax Invoice in the correct format and not missing out on important details. While you can, of course, create your own personalized formats, there...
Frequently Asked Questions about Goods and Service Tax Since the implementation of GST, there are many doubts and questions from taxpayers and business entities and we’re here to address them. So let’s dive into it. 1. Basic information on GST Goods and Service Tax, aka GST, is the...
The time of the year has come where all your GST skills will be put to test. The first ever annual GST returns filing period. GST returns for the financial year from 1st July 2017 to 31st March 2018 needs to be filed by 31st March...
How to file GST Returns As of 1st July 2017, India saw a new tax reform coming into the act. The goods and service tax, aka GST, is the single indirect tax levied on goods and services of business entities. It is the single tax that...
GST Verification All taxpayers are given a unique identification number aka the GSTIN that combines all the registered taxpayers on a single platform for compliance and administration purposes. Every business entity that surpasses the threshold level (a turnover of more than Rs. 20 Lakh annually) to...
GST Application Status With the goods and service tax aka GST rolling into India from 1st July 2017, there are quite a few terms and terminologies that came into the picture as well. A well furnished large-scale firm can hire accountants and accounting software’s to get...
Composition Scheme Under GST Latest Updates: Composition Scheme limit hiked to Rs 1.5 Crore from April1-2019 says Finance Minister Shri Arun Jaitley Composition scheme under GST The Goods and Service Tax, aka GST, has been a game changer in the field for accounting purposes in business. It has...