CGST, SGST, IGST & UTGST are the 4 components or types of GST with a concept of one tax one nation. Read the details of CGST, SGST, IGST & UTGST.
GST is a newly passed bill which calls for a common tax over the nation and just one single type of tax filtering ll the extra and indirect taxes. It will replace VAT, service tax and excise in every business that will have to mandatorily register under it. The cost of tax on all...
GSTIN, short for Goods & Services Tax Identification Number is a 15-digit, unique identification number allotted to each taxpayer (GST registered business, firm, dealer, supplier, business entity) once they have registered under the GST regime in India. Every business operating in a state or Un...
GSTIN and GSTN are two different terms and shall not be used interchangeably. GSTIN is a registration number for tax payment under GST and GSTN (Goods and Service Tax Network) is an organisation who manages all the IT system and entire GST portal. The portal is used by the Government of...
What is GST? Before we continue with more of the Indian GST, let us understand the basic idea of GST in simple language. GST is a value-added tax levied on supply. GST offers an extensive and continuous chain of tax set-offs. The supplier at each stage can use the input tax credit ...
GST registration guidelines Indian GST Laws How to export your goods? Registration procedures and formalities to obtain GSTIN How many digits in GSTIN under Goods and Service Tax registration Would multiple registration be allowed under Goods and Service Tax (GSTIN)?
GST Tax Invoice is a demanded instrument by the Indian taxation system’s GST law. It acts as proof of the supply made after a sale by the business. Section 31 of the CGST Act, 2017 mentions the issuance of a GST Tax Invoice as a mandatory practice for e
Each taxpayer is assigned a unique code known as GSTIN., which will be PAN based and state wise. The breakdown of the 15-digit GSTIN format is as below, Every Union territory or state has a unique code. Thefirsttwodigitsof the GSTIN indicates the state code as per the Indian Census,...
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A GST return is a document containing details of income, Under GST, a registered dealer needs to file GST returns that include: purchases, sales, output GST, ITC. Know different types of GST returns. Get in touch with FinacBooks today to file your GST r