GST Guides
GST Guide : Introduction, Compliance, Updates and More.
Introduction to GST
GST stands for Goods and Services Tax, which is a value-added tax levied on the supply of goods and services in India. It is a comprehensive, multi-stage, and destination-based tax that is levied on every value addition in the supply chain.
All About GST rates in India
Note that some goods and services are exempted from GST or taxed at a concessional rate. Additionally, certain items such as petroleum products, alcohol, and real estate are outside the purview of GST and are subject to separate taxation laws
GST Registration
GST registration is the process of obtaining a unique Goods and Services Tax Identification Number (GSTIN) from the government, which enables a business to collect and pay GST on its taxable supplies. It is mandatory for businesses that meet certain criteria to register for GST.
All you need to know about GST Returns
GST returns are regular statements that a registered taxpayer in India is required to file with the government. These returns provide details of a business's sales, purchases, and taxes collected and paid. GST returns are used to calculate the amount of tax liability that a business owes to the government.
Introduction to Input Tax Credit
Input Tax Credit (ITC) is a mechanism under the GST system in India that allows a registered taxpayer to claim credit for the GST paid on inputs (goods or services) used for business purposes. This credit can be used to offset the GST liability on the output (goods or services) supplied by the taxpayer.
All about GST payment
GST payment is the process of remitting the tax liability to the government on the supply of taxable goods or services. Under the GST regime, businesses are required to make regular GST payments based on their tax liability.
What is GST Compliance?
GST compliance refers to the process of adhering to the rules and regulations of the Goods and Services Tax (GST) system in India. Businesses that are registered under GST are required to comply with various provisions and regulations, including registration, invoicing, filing of returns, payment of taxes, and maintaining proper records.
Get to know about GST Council
The GST Council is a constitutional body in India responsible for making recommendations to the Central and State Governments on issues related to Goods and Services Tax (GST). The GST Council is chaired by the Union Finance Minister and includes the Finance Ministers of all the states and union territories with a legislature.
What is GSTIN?
GSTIN (Goods and Services Tax Identification Number) is a unique identification number assigned to businesses registered under the Goods and Services Tax (GST) system in India. It is a 15-digit alphanumeric number that is assigned to each taxpayer to help the government track their tax transactions.
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