Goods and Service Tax
How to Surrender or Cancel GST Number
Cancellation of Registration under GST You can cancel your GST registration if the GST rules don’t apply to you or you are shutting down your business or profession, or the tax officer calls for cancellation. This article will guide you through the ...
How to check the correct Input Tax Credit Rate?
Input Tax Credit – ITC One of the fundamental features of GST is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country. Latest Update 1st February 2022 Budget 2022 updates- 1. ...
How To Get Temporary GST Number
TEMPORARY GST REGISTRATION FOR CASUAL TAXABLE PERSON If any individual undertakes occasional transactions, which involves supply of goods or services or both as a party or as an agent or in any other capacity in any state or UT where he has no fixed ...
How to Surrender or Cancel the GST Number?
Cancellation of GST Application: Complete Guide The taxpayers must follow the below following steps for the Cancellation of GST Registration: Step 1: Firstly, the taxpayers have to visit the Goods and Services Tax portal for the Cancellation of GST ...
How to Surrender your GSTIN Online?
New functionality has been introduced on the GST portal for the surrendering of GST Registration. If you want to cancel your GST registration, follow the below steps: – Step 1: Login into your account on GST.GOV.IN Step 2 : Go to Services >> ...
What is the Turnover Limit for GST Audit?
As per the Finance Act, 2021, the requirement of GST audit and submission of GSTR-9C as certified by the CA/CMA was removed. As per the 43rd GST Council meeting that was held on 28th May 2021, the GST Council recommended that GSTR-9C may be still ...
Are there any Charges for GST Cancellation Online?
GST cancellation charges GST registration can be cancelled voluntarily if the business is dormant or does not have the necessary business turnover. Further, a GST registration can also be cancelled by a GST officer if the business is non-compliant ...
What is GST invoice & Who can Issue it ?
Invoicing Under GST As a GST registered dealer, you are required to provide GST Invoices, also known as GST bill to your clients. Here, we will be covering the following aspects of GST Invoices: What is a GST Invoice? An invoice or a GST bill is a ...
Is ther Any Option for Revising the GST Return?
What is Amendment of Returns? One of the key changes introduced in the new return filing system is the facility to amend a return, once filed. Currently, GST returns cannot be amended, and errors, if any, can only be rectified by making an amendment ...
How to file Amendments in GST Returns?
The GST Council has introduced a new return filing system with one main return FORM GST RET-1 and two Annexures. In FORM GST ANX-1, a taxpayer has to report details of all outward supplies, inward supplies on a reverse charge basis and import of ...
Temporary GST Registration Number
TEMPORARY GST REGISTRATION FOR CASUAL TAXABLE PERSON If any individual undertakes occasional transactions, which involve the supply of goods or services or both as a party or as an agent or in any other capacity in any state or UT where he has no ...
Letter Of Undertaking Under Gst For Export
What does LUT under GST means? LUT in GST: Full form/meaning is Letter of Undertaking. It is prescribed to be furnished in the form GST RFD 11 under rule 96 A, whereby the exporter declares that he or she will fulfill all the requirement that is ...
Penalty for Late Filing of GST Return
What is GST Return Form? GST Return Form is a document containing details of all purchases, sales, output GST (on sales) and input tax credit (GST paid on purchases) to calculate an assessee’s GST liability for a particular tax period. Currently GST ...
How To Revoke GST Registration After 180 Days
Revocation of GST Registration Cancellation The GST Act is very comprehensive and covers various situations a taxpayer may face with provisions and procedures. In this article, we look at the procedure for revocation of GST registration cancellation ...
GST Rule for Aadhaar Authentication While Registration
The 39th GST Council Meeting was held on March 14, 2020, In which, the council agreed on the operationalization of Aadhaar authentication for new taxpayers. However, as per sources in the Finance Ministry, the implementation of the process was ...
What are the GST E Invoicing Applicability and requirements?
Who must Generate E-Invoices? Turnover limit Phase Applicable to taxpayers having an aggregate turnover of more than Applicable date Notification number I Rs 500 crore 01.10.2020 61/2020 – Central Tax and 70/2020 – Central Tax II Rs 100 crore ...
What are the Returns & Compliances under GST?
What is GST Return? GST return is an official document that furnishes all the purchases, sales, tax paid on purchases, and tax collected on sales-related details. The GST returns is required to be filed, following which the taxpayer has to pay off ...
Types of GST and its Applicability
GST Applicability: An Overview Although GST is theoretically paid by suppliers, the burden is ultimately passed on to end-users. India is a quasi-federal country with the ability to levy and collect taxes through suitable legislation by both the ...
Gst registration for service provider
In this guide we let you know about GST Registration for Service Providers. All the Service Providers have different rules regarding GST Registration. The Goods and Services Tax (GST) is a unified tax structure that was implemented by the Government ...
How to Apply GST Registration Online?
जीएसटी रजिस्ट्रेशन कैसे करें GST Registration Kaise Kare GST Indirect Tax की व्यवस्था का एक सबसे बड़ा सुधार है| GST भारत में मोदी सरकार द्वारा जुलाई, 1 , 2017 को देश में इसकी शुरुवात की गयी थी | इसे देश में आर्थिक विकास को बढ़ाने के लिए लाया गया ...
How to Track GST Application Status?
Instant Check your ARN status of GST Application, all over India Search your ARN status of GST application number all over India ,Just type your ARN number below and check application status of the GSTIN/UIN. ARN number is generated on the GST Portal ...
Gst Registration Documents Required
How does GST registration helps you: GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business. Benefits to GST registered business at glance are as ...
What is Input Tax Credit? Explain with examples
What is input tax credit? Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount. Here’s how: When you buy a product/service from a registered dealer you pay taxes on ...
Input Tax Credit Utilization & Adjustment Rule
Input Tax Credit – ITC One of the fundamental features of GST is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country. Latest Update 1st February 2022 Budget 2022 updates- 1. ...
Facilities on the einvoice1.gst.gov.in
einvoice1.gst.gov.in or the e-invoice portal is the first invoice registration portal maintained by the National Informatics Centre (NIC) for generating IRN for e-invoices. The e-invoicing system became applicable on 1st October 2020. There are ...
What If GST Return Not Filed For 6 Months
Late Fees and Interest on GST Return Late fees and interest form important components of the Goods and Services Tax (GST) payment and are incurred by businesses in case of delay in submitting or filing GST returns. The article covers all the latest ...
GST Cancellation Charges & Process
GST registration can be cancelled voluntarily if the business is dormant or does not have the necessary business turnover. Further, a GST registration can also be cancelled by a GST officer if the business is non-compliant under GST. Once GST ...
Input Tax Credit rules under GST
Input Tax Credit of CGST/ SGST/ UTGST/ IGST GST comprises the following levies:- Central Goods and Services Tax (CGST) [also known as Central Tax] is levied on intra-state or intra-union territory on the supply of goods or services or both. State ...
GST on Second Hand or Used Mobile Phones and Gadgets
GST on Purchase & Sale of Second-hand goods and Margin Scheme Mr. Rohit purchases a car for Rs. 10 lakhs, and it includes a GST amount of Rs. 2 lakhs. Now, if he resells it after 4 years for Rs. 5 lakh then if GST is imposed on such Rs. 5 lakh then ...
Is GST is applicable on director remuneration ?
Directors’ remuneration refers to compensation the company gives to its directors for the services rendered. This can be through fees, salary or by use of a company’s assets. The remuneration paid to Directors is issued only on receiving approval ...
GST temporary registration number login
To obtain a temporary registration number, follow these steps: Step 1: Go the official website of GST and choose services, click on registration and then on new registration. Step 2: Enter all the required information, PAN number, mobile number, and ...
Temporary GST Number Application Process
If any individual undertakes occasional transactions, which involves supply of goods or services or both as a party or as an agent or in any other capacity in any state or UT where he has no fixed address to operate. A GST Registration of a casual ...
What is the GST annual return last date?
GSTR-9 GSTR-9 is the annual return to be filed by taxpayers registered under GST. As per the GST law, it is due by 31st December of the year following the relevant financial year. It contains the details of all outward supplies made, inward supplies ...
What is letter of undertaking for Export
What is LUT and why is it used? LUT is an acronym for the letter of undertaking used while exporting goods. All registered taxpayers who export the goods or services will have to furnish Letter of Undertaking (LUT) in GST RFD-11 form on the GST ...
GST Invoice Serial Number Rules
GST Invoice Serial Number Rules Following are the mandates that issuers need to follow as per Rule 46 (b). The invoice numbers must be sequential or consecutive. They must be unique for a financial year, containing an alphanumeric combination. A ...
How to take maximum benefit out of Input Tax Credit Utilization?
Under the GST regime, the taxpayer paying GST on inputs can claim the credit for tax paid on inputs and utilize the same towards the liability to pay GST on output. This is input tax credit utilization of GST, which enables to overcome challenges ...
What is the Meaning of Input Tax Credit?
An input tax credit is a credit that a manufacturer has received for having paid input taxes towards the inputs that have been used in the manufacture of goods and products. Similarly, a dealer will be entitled to the input tax credit. What is Input ...
How to file a GSTR-9 annual return?
GSTR 9 is an annual tax return that contains details related to the supplies you have made and received during the year. What is GSTR 9? The GSTR 9 is a document or statement that has to be filed once a year by a registered taxpayer. This document ...
GST Cancellation Letter Format
After Applying for GST Cancellation GST dept. can send you Notice for Seeking Additional Information / Clarification / Documents relating to Application for Cancellation, and in this notice GST Dept will ask for reason for GST Cancellation and ...
GST Cancellation Process & Steps Online
What is the Cancellation of GST Registration? Certain companies must register for GST to operate. You will not be a registered person under the GST system and will no longer be required to pay or collect GST due to the cancellation of GST. When you ...
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