Once you’ve made the required GST payments, you’ll find out if you’re eligible for a GST refund. If you qualify for a refund, you must file GST refund form RFD-01 on the GST portal to submit an online application for GST reimbursement. You can claim GST refunds for several reasons...
A GST number is required to fileGST returns, which are periodic statements of a registered person’s transactions and tax liability. Filing GST returns is mandatory for every GST-registered person, even if there is no business activity or tax liability in a given period. 2. Claiming Input Tax...
1. How can I track my refund application without logging into the GST Portal?Navigate to Services > Track Application Status > Select the Refund option > Enter ARN > Click SEARCH to track your refund application without logging into the GST Portal. You can track your refund application without...
Step 6: If you login for the first time on the GST Portal, you will be asked to file a non-core amendment application in order to submit bank accounts details. Click on the “FILE AMENDMENT” button. Step 7: Then you will be able to see the application form for editing where non-co...
GSTR-9 is a document or a statement that has to be filed once a year by the registered taxpayer irrespective of the turnover of an entity. To file GSTR-9,
If the GST collected on sales exceeds the GST paid on purchases, the business owes money to the government. If it's the other way around, the business can claim a refund. This process is designed to be straightforward, allowing businesses to manage tax reporting in a structured and ...
How many types of imports in India. Types of bills of Entry in India How does STP units work in India? How does TT (Telegraphic Transfer) work Refund of Input Tax Credit (ITC) of GST, FAQ Migration procedures for existing VAT payers to GST online in India ...
Second, you’ll get your money faster! When you file online and set up direct deposit, any tax refund you receive will go directly into your bank account, with no need to wait for a cheque in the mail. Lastly, e-filing allows you to track the progress of your tax filing online, so...
Bank guarantees and letters of credit are both used to reduce risk factors between borrowers and lenders in trade, find out which one is for you.
5. Initiating a VAT refund In certain countries, like Italy and Spain, a substantial VAT refund request is a common audit trigger. This is especially true if the company has recently registered to collect VAT. Managing a sales tax or VAT audit ...