GST Registration is a process by which a taxpayer gets himself registered under GST. Once a business is successfully registered, a unique registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN).
All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business. All these GST filings online happen on the GST portal.
Accounting is the process of recording financial transactions pertaining to a business. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows.
EWay Bill is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybill
The Goods and Services Tax Return 10 is a one time document/statement that has to be filed by a registered taxpayer whenever they cancel their GST registration or at the time of closing down a business (either voluntarily or because of a government order).
GST Reconciliation under Goods & Services Tax (GST) is about matching the data filed by the supplier with those of the recipients and recording all the transactions that have taken place during that periodThe reconciliation process ensures that no sales or purchases are omitted or wrongly reported in the GST returns.
GST SURRENDER OR CANCELLATION OF GST REGISTRATION. GST Registration can be surrender or cancelled through the following three ways: 1. GST surrender By the registered person – A registered person can apply for cancellation of GST Registration by himself.
GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source) under GST. GSTR 7 contains the details of TDS deducted, TDS liability payable and paid, TDS refund claimed if any etc.
IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). The main objective of DGFT is regulating and promoting Exports from India.
GST Annual Return (9/9A)
GSTR 9A is an annual return form for the composition scheme dealers having an annual turnover of less than Rs. 1 crore under the goods and services tax. Download GSTR 9A form PDF format includes all the details regarding SGST, CGST and IGST paid during a given Financial Year.
Audit under GST involves examination of records, returns and other documents maintained by a GST registered person. It also ensures correctness of turnover declared, taxes paid, refund claimed, input tax credit availed and assess other such compliances under GST Act to be checked by an authorized expert.
GST Cash Refund
In the GST once paid can be claimed back. There are circumstances where GST paid to the government can be claimed back. ... There are two important aspect of GST Refund: 1. That under which circumstances it can be claimed back as prescribed in Section 54 and Section 55 of the CGST ACT,2017.
GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. GSTR-8 contains the details of supplies effected through e-commerce platform and amount of TCS collected on such supplies.