GSTIN (Goods & Services Tax Identification Number)is a15-digit unique identifierassigned to every GST-registered taxpayer, including businesses, firms, dealers, and suppliers, under theGST regime in India. It is mandatory for businesses engaged in taxable supplies and is issued upon successful GST ...
The full form of GST isGoods and Services Tax. It is an indirect tax levied on the supply of goods and services across India. This comprehensive tax system is designed as a multi-stage, destination-oriented tax applied at each point of value addition in the supply chain. By replacing multi...
Implementation in India:In India, HSN codes are used under the Goods and Services Tax (GST) regime. Businesses must use HSN codes when filing GST returns, ensuring proper classification and taxation of goods. The number of digits required (4, 6, or 8) depends on the business’s turnover....
HSN has been applicable in India after implementation of GST. India has already been using HSN system in the Central Excise and Customs regime.But the GST HSN is a much more detailed classification that adds another two digits to the 6-digit structure. For certain categories of person in GST...
If a hearing is not successful or the details are not provided within the given amount of time the certificate will be cancelled under form 22. GST code (GST identification number) Every tax payer will be assigned a state-wise PAN based GST tax payer identification number (GSTIN) which w...
GST GST India GST Registration GSTIN GSTN India 6 Like! Share Ashwini Gorhe Ashwini is a Product Manager at IRIS Business Services Ltd with 12 years of experience. She is a Chartered Accountant by profession. As a Product Manager, Ashwini plays a pivotal role in shaping the company...
Total item discount amount is not showing in GSTR. Item unit of measurement should show both unit and its description, and for service item, it should be Nos. No customer billing name for stock transfer in GSTR. Non-GST item You can create a non-GST item that is the default for T...
IRN known as Invoice Reference Number is a unique invoice number generated by the Invoice Register Portal (IRP) on uploading the invoice electronically. Know more about IRN definition, format and how to generate it.
Yes, excise duty has been by the Goods and Service Tax (GST) along with other indirect taxes. What is the customs and excise system? The Customs and Excise Department administers all taxes on international trade. The taxes include Import Duty, Excise Duty and Value Added Tax (VAT) on impo...
In India, the tax system is unique and different compared to other countries. If you are running your business in India, I'm sure you have come across this term known as'GST Cess.' So, what is a 'GST Cess?' Let me start by explaining the word 'cess.' According to the dictionary,...