When you have a registered your business, it becomes mandatory for you to file a monthly/quarterly and a yearly GST (Goods and Service Tax) return. Your GST return will be based on the type of business you have. The government has simplified the process to file the GST returns on theGST...
The GSTIN Number is used for various GST-related procedures, such as filing returns, claiming input tax credits and paying taxes. Read More:What is GST and How Does It Work? GSTIN Number Format & Example – Decoding the 15-Digit GSTIN Each taxpayer within the GST system receives a unique...
The objective of the GST system’s refund provisions is to harmonise and standardise the processes involved in filing returns. Businesses or individuals must file a refund claim using the appropriate forms, such as Form GST RFD-01, along with supporting documentation in order to be eligible for...
TallyPrime is a complete business management software to manage your business easily, faster, and efficiently. Access to complete features, from billing to insightful reports. Accounting and Billing | Inventory Management | Insightful Business reports | GST Returns and reconciliation | Connected e-invoic...
The HSN code needs to be declared on the tax invoice and also to be reported while filing the GST returns. The HSN codes for mandatory mapping/classification of goods that need to be used by a taxpayer are as follows;Taxpayers whose turnover is Rs. 5 crore and above shall use 4 digit...
Discover what GST and BAS mean for your business. Get step-by-step guidance on registration, calculation, filing, and more in our comprehensive guide.
CGST is the final category of GST. It’s a tax levied on intrastate supplies of goods and services by the central government, and it is governed by the CGST Act. Since SGST falls under intrastate supply, it is levied in the same way, but it is now regulated by the state government. ...
GST Returns model mapping.version.14.5.xml GSTR1CSV.version.14.28.xml GSTR2CSV.version.14.32.xml The following GSTR issues are also resolved: 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 ...
What is GST? Goods and services tax is a form of value-added tax levied on most products sold to the general public. This particular tax is usually paid by consumers; it is then passed on to the government by the business offering the goods and services. In a nutshell, the goods and ...
GST (Good and Service Tax) is a value-added tax applied to the cost of certain goods and services. Learn more about what GST is in this guide by QuickBooks.