The Goods and Services Tax is an integral part of tax reforms in many countries around the world, aimed at simplifying and streamlining the indirect tax structure. In this article, we will explore the objectives of GST and how they impact businesses and consumers. What is Goods and Services Tax? The Goods and Services Tax […]
What are the objectives of GST: Goods and Services Tax Read More »
Registering Goods and Services Tax (GST) for a business means getting a unique code of 15 digits. That is Temporary Reference Number (TRN).It is called a Goods and Services Tax Identification Number. GST registration is a fundamental need for business identification. It is also required for compliance verification and any tax purposes. You can track
Know what is a Temporary Reference Number in GST Read More »
In India, the concept of e invoice under GST denotes electronic invoicing defined by the Goods and Services Tax (GST) law. An electronic invoice, also known as an e-invoice, is a digital document that is shared electronically between a customer and a supplier and is verified by the government tax portal. Business-to-business (B2B) invoices are
Simplifying the concept of e invoice under GST: GST e invoice Read More »
For businesses engaged in such transactions, obtaining a Goods and Services Tax Identification Number is not just a regulatory requirement but a deliberate move towards compliance and smooth operations. In this article, we will go through the significance of the minimum turnover for GST and understand the various factors that contribute to its determination. In
What is the minimum turnover for GST: GST Threshold limit Read More »
As per the GST Council, the Goods and Services Tax (GST) is an indirect tax implemented in many countries, including India. It was implemented to replace complex tax systems, such as excise duty, service tax, and value-added tax (VAT) to make it simple. GST is designed to create a transparent tax system and to promote
What is Application Reference Number? File for GST ARN Read More »
The introduction of Good and Services Tax (GST) has revolutionized the Indian taxation system by replacing a complex structure of multiple taxes. Sole Proprietorship GST Registration is important step in compliance with the prevailing tax laws. For the entrepreneurs and business owners it become imperative to understand the nuances of GST Registration for Sole Proprietorships.
Online Sole Proprietorship GST Registration in India Read More »
The validity of GST registration certificate for standard taxpayers is for life, until the tax authorities cancel it, or the taxpayer voluntarily cancels it. Using the same GST Certificate, taxpayers can seek the revocation or cancellation of their Goods and Services Tax (GST) registration. The validity of GST Registration Certificate is 90-day for non-resident and
What is the validity of GST Registration certificate? Read More »
As per the Goods and Service Council of India, Goods and Services Tax (GST) is not charged to the states where the products and services are made in India. It is only valid in the state in which the products or services are consumed. This is why it is referred to as a destination based
13 Benefits of GST Registration: Registering under GST law Read More »
In India’s tax system, the Goods and Services Tax (GST) stands as a transformative dynamism, restructuring value-added tax levied to the nation’s financial architecture since July 1, 2017. This revolutionary tax system replaced a complicated indirect tax and aimed to create a unified market by bringing together the various economic spheres under one umbrella. However,
Types of Goods and Services Tax: Types of GST in India Read More »
In the context of the Goods and Services Tax (GST) regime, the initial and crucial step for existing taxpayers is the registration process, which furnishes them with the GSTIN Number as their primary identification. Various factors, such as changes in address, contact number, or business details, may necessitate these amendment in GST Registration. What is
Amendment in GST Registration: Core & Non Core field Read More »
