Goods and Service Tax
GST Login – Guide on How to login to Government GST Portal India
GST Portal or government GST portal is hosted at https://www.gst.gov.in/. GST login portal is a website where all the compliance activities of GST can be done. Activities such as the GST registration, return filing, payment of taxes, application for ...
LUT (Letter of Undertaking) in GST
Letter of Undertaking - Brief Description In order to give boost to exports, the government provided certain facilities to the exporters under GST. As per section 16 of the IGST Act, 2017, export of goods and services is treated as Zero Rated Supply. ...
GST Return Filing Process - Complete Guide
GST Return-Introduction One of the key aspects of the GST era is that most of the indirect taxes - for which returns had to be filed separately for various businesses - have been subsumed. Today, irrespective of whether one is a trader, manufacturer, ...
GST Registration Eligibility & Online Filing Process
GST Registration - An Overview The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is a destination based tax on consumption of goods and services. GST is to be charged at every ...
How to register on e-way bill portal ?
With respect to eWay Bills, three kinds of taxpayers/ users are involved: Registered Suppliers Registered/ Unregistered Transporters Unregistered Suppliers Registration on the e-way bill portal is compulsory to generate the e-Way Bills. Prerequisites ...
How to Apply for GST Refund Online?
Q.1 How to apply for GST refund online? Steps: Login to GST portal. Select the Refund tab-> Application for Refund Option. Select the type of refund and Fill the necessary details and submit. Later take a print out along with the ARN number ...
GST Refund & process to claim it
Q.1 When can the refund be claimed? There are many cases where a refund can be claimed. Here are some of them. Excess payment of tax is made due to a mistake or omission. Dealer Exports (including deemed export) goods/services under claim of rebate ...
What is Refund under GST & How to Apply for GST Refund?
The concept of refund under GST relates to any amount returned by the government that was: Paid by the registered taxpayer either in excess. Was not liable to be taxed. GST was introduced not only to get rid of blocks like double taxation and ...
What is GST Annual Return ?
GST has been implemented in India from 1st July, 2017. Under the new GST regime, over 1.3 crore business in India have been registered and issued GST registration. All entities having GST registration are required to file GST annual returns, as per ...
What are Goods & Service Tax Rate?
Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual ...
What are the different types of GST?
Central GST (CGST): GST paid on each transaction is divided into two equal parts: the part for the Centre is termed as CGST. State GST (SGST): The part of a state’s share of GST, when a transaction takes place within ...
Why is Dual GST required?
India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. Both the levels of Government have distinct responsibilities to perform according to the division ...
Which Countries Collect the Goods and Services Tax (GST)?
France was the first country to implement the GST in 1954, and since then an estimated 160 countries have adopted this tax system in some form or another. Some of the countries with a GST include Canada, Vietnam, Australia, Singapore, United Kingdom, ...
What Is the Goods and Services Tax (GST)?
The goods and services tax (GST) is an indirect sales tax that is applied to the cost of certain goods and services. The business adds the GST to the price of the product, and a customer who buys the product pays the sales price plus the GST. The GST ...
Calculation of Interest Liability as per GST Act
Where the tax liability as per the final assessment is higher than in provisional assessment, will the taxable person be liable to pay interest? Yes. He will be liable to pay interest from the date the tax was due to be paid originally till the date ...
Whether any prior intimation is required before conducting the audit?
Yes, prior intimation is required and the taxable person should be informed at least 15 working days prior to conduct of audit. For more information on this visit https://www.taxaj.com/
Who can conduct audit of taxpayers?
There are three types of audit prescribed in the GST Act(s) as explained below: (a) Audit by Chartered Accountant or a Cost Accountant: Every registered person whose turnover exceeds the prescribed limit, shall get his accounts audited by a ...
What Do you mean by GST Audit?
GST Audit means examination of records, returns and documents maintained and furnished by registered person to check the following:- a) Verify the correctness of turnover declared. ...
GST state codes and TIN number.
State Name TIN Number State Code Andaman and Nicobar Islands 35 AN Andhra Pradesh 28 AP Andhra Pradesh (New) 37 AD Arunachal Pradesh 12 AR Assam 18 AS Bihar 10 BH Chandigarh 04 CH Chattisgarh 22 CT Dadra and Nagar Haveli 26 DN Daman and Diu 25 DD ...
Commonly Asked Questions on GST
Q.1 What is GST? GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is ...
Who is the person responsible to make assessment of taxes payable under the GST Act?
Every person registered under the GST Act shall himself assess the tax payable by him for a tax period and after such assessment he shall file the return required under section 39. For more information on this visit https://www.taxaj.com/
Who all fall under Unregistered Persons category?
Following persons will fall under "Unregistered Persons" category: 1. Taxable persons who are not registered under the GST and have not applied for registration under GST Act, but are liable to get registered as per the provisions of the Act. ...
FAQs on LUT (Letter of Undertaking)
Q.1 What is LUT in GST? Letter of Undertaking is commonly known as LUT. The Letter of Undertaking (LUT) is prescribed to be furnished in form GST RFD 11 under rule 96 A, whereby the exporter declares that he/she would fulfil all the requirements ...
Penalty for filing late returns.
In case, a taxpayer fails to furnish the details relating to outward supplies, a penalty is charged for the same. The fine amounts to a sum of Rs 200 (Rs 100 for CGST and Rs 100 for SGST) for each day of continuing default. This is subject to a ...
Detailed explanation of different Types of GST returns.
1. GSTR – 3B: Summary of Inward and Outward Supplies GSTR 3B is a simplified monthly summary return of inward and outward supplies. It is a self declaration showcasing the summary of GST liabilities of the taxpayer for the tax period in question. ...
How to register for GST online?
Login Fill details in Part A of REG-01 Once you login, you then need to declare the following details in Part A of Form GST REG-01 on the common portal. These details include: (a) PAN (b) ...
Category of GST Registration & Applicability
Nature of GST Registration Purpose of Registration Documents to be Uploaded Normal taxpayer registration (including composition dealer, Government departments and ISD registrations) For undertaking a taxable supply of goods / or services v PAN card ...
What are the documents required for GST registration?
Category of persons Documents required for GST registration Sole proprietor / Individual PAN card & Aadhar card of the owner Photograph of the owner Rent agreement place of business with NOC. Bank account details Address proof of principal ...
What are the benefits of registering under GST?
1. Elimination of multiple taxes. 2. Saving more money. 3. Easy tax filing and documentation. 4. Increase in GDP. 5. Reduction in tax evasion. 6. Easily take input tax credit. 7. Easily register on e-commerce websites. For more information on this ...
What are the different types of Assessment under GST?
The different types of assessment under GST are as under: Section 59 – Self assessment ...
What do you mean by GST Assessment?
Under GST, the term “assessment” means determination of tax liability under the GST Act. Normally, persons having GST registration file GST returns and pay GST every month based on self-assessment of GST liability. This means GST continues to promote ...
Whether the e-way bill can be cancelled? If yes, under what circumstances?
Yes, e-way bill can be cancelled if either goods are not transported or are not transported as per the details furnished in the e-way bill. The e-way bill can be cancelled within 24 hours from the time of generation. For more information on this ...
What is to be done (in an EWB) if the vehicle breaks down?
If the vehicle breaks down, when the goods are being carried with an EWB, then transporter can get the vehicle repaired and continue the journey in the same EWB. If he has to change the vehicle, then he has to enter the new vehicle details in that ...
Can Part-B of e-way bill entered/updated by any other transporter?
The present transporter can fill or update PART-B of the EWB. The e-way bill can be assigned from one transporter to another transporter, for further movement of consignment. Under this circumstance, the latest transporter, assigned for that e-way ...
Whether Part-B is must for e-way bill?
E-Way bill is complete only when Part-B is entered. Otherwise printout of EWB would be invalid for movement of goods. Filling up of Part-B of the e-way bill is a must for movement of the goods, except for within the same state movement between ...
Can I extend the validity of the e-way bill?
Yes, you can extend the validity of the e-way bill, if the consignment is not being reached the destination within the validity period due to exceptional circumstance like natural calamity, law and order issues, trans-shipment delay, accident of ...
How to generate e-way bill for multiple invoices belonging to same consignor and consignee?
If multiple invoices are issued by the supplier to recipient, that is, for movement of goods of more than one invoice of same consignor and consignee, multiple EWBs have to be generated. That is, for each invoice, one EWB has to be generated, ...
Can the e-way bill be modified or edited?
The e-way bill once generated can't be edited or modified. Only Part-B can be updated. However, if e-way bill is generated with wrong information, it can be cancelled and generated afresh. The cancellation is required to be done within twenty four ...
What are the documents that need to be carried along with the goods being transported?
The person in charge of a conveyance shall carry the invoice or bill of supply or delivery challan, bill of entry as the case may be and a copy of the e-way bill number generated from the e-way bill portal.
What is the Part-A Slip in E-Way Bill?
Part-A Slip is a temporary number generated after entering all the details in PART-A. This can be shared or used by transporter or yourself later to enter the PART-B and generate the E-way Bill. This will be useful, when you have prepared invoice ...
Next page