What is the full form of GST? - GST Full Form is Goods and Service Tax. Learn more about Goods and Service Tax by visiting BYJU'S.
A GST number is also important to avoid penalties for non-compliance with the GST Act. If a person is liable to register under GST but fails to do so, he or she may face a penalty of 10% of the tax due or Rs. 10,000, whichever is higher. Similarly, if a person collects GST fr...
Form DRC-03A: Purpose, Appropriation of Payment and Filing Process CBIC Clarifies Wavier of Interest and Penalty under CGST Act RCM Time of Supply Rule Changes Effective from November 1 Now, let us look at GST due dates for December 2024. Here is a comprehensive image of our December GST Du...
As per the rules, all the taxpayers will have to file an annual return form with GSTR 9 but now in an addition to the current rule, Section 35 of CGST Act, 2017, all those taxpayers having turnover exceeding 2 crores in a financial year will have to submit audited annual accounts alon...
GST Notification 37/2021: Amends heading and description in Form DRC-03; Rule 137 GST Notification 38/2021: Seeks to bring into force certain sub-rules of Rule 2 of the Central Goods and Services Tax GST Notification 39/2021: Seeks to bring into force certain clauses of Finance Act, 2021...
Therefore, Section 24 of the CGST Act of 2017 mandates that all exporters of products register for GST. However, if a service exporter's annual turnover is less than the Rs 20 lakh exemption limit, the company isn’t needed to register for GST. What are the conditions of export of ...
Various restrictions on Cash receipt/payments in Income Tax Act Admin May 25,2021 Read More... MSME Saksham- A joint knowledge initiative for MSMEs by SIDBI & CIBIL Admin Apr 25,2021 Read More... Extended Due date of Income tax Return for FY 2018-19- COVID 19 ...
What is registration under GST act? Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. ...
Full form of GST What taxes will be replaced by GST? What are the different types of GST? Difference between CGST, IGST, SGST? Taxes which will be charged on Local, Central and Interstate Sales Why GST is being introduced? How GST is different from current tax? GST Computation and Account...
As per the CGST Act, Taxpayers must perform all below-mentioned tasks on or before the September GST returns of respective FY or the Annual returns due date : Claim any eligible ITC against invoices raised Highlight CDNs brought against any Invoices GST Composition Scheme owners or taxpayers ...