GST-exempt categories GST-exempt categories, The term “GST-exempt” is used to describe goods, services, or transactions that are not liable to the application of the Goods and Services Tax (GST) within a specific jurisdiction. Exempt items are typically specify in the GST legislation or regulations, and they are not liable for GST at any stage of… Read More »
Temporary GST number In India, there is no provision for obtaining a temporary GST number. A business must first apply for a regular GST registration number by submitting the required documents and completing the registration process. Once the registration is complete, the business will receive a permanent GST identification number (GSTIN), which can be used… Read More »
GST Compliance Checklist Excel Visit for more information: https://www.gst.gov.in/ Registration: Check if your business meets the turnover threshold for GST registration. Register for the Goods and Services Tax (GST) and acquire a distinct GST registration number. Invoicing and Documentation: Ensure that your invoices are in the prescribed format and contain all the required information. Maintain… Read More »
How does one cancel GST registration If a GST-registered business in India wishes to cancel their GST registration, they can do so by following these steps: Visit the GST portal and login to your account using your username and password. Go to the “Services” tab and select “Cancellation of Registration” under the “Registration” option. For… Read More »
Clarification for the GST new registration After filing an application for Clarification for a new GST registration in India, the time taken to receive a response can vary depending on various factors such as the workload of the registration authority and the complexity of the application. To Visit https://www.gst.gov.in/ However, according to the GST Act,… Read More »
GST compliance for private limited company GST compliance for a private limited company in India includes several key aspects. Here are some of the important compliance requirements: GST Registration: Check if your business meets the turnover threshold for GST registration. Apply for GST registration by submitting the necessary documents and information to the GST department.… Read More »
Convert regular GST to composition Convert regular GST to composition: To convert regular GST to composition scheme in India, you need to follow the below steps: 1. Log in to the GST portal (www.gst.gov.in. (http://www.gst.gov.in/)) using your registered credentials. 2. Go to the “Services” tab and select “Registration”. 3. Click on “Application to opt for… Read More »
Input Tax Credit However, it’s important to understand that not all goods and services are subject to RCM. GST is only applicable under the Reverse Charge Mechanism (RCM) in specific situations as specified by the government. For instance, RCM applies to services provided by a goods transport agency, legal services, services provided by an… Read More »
GST Checklist for PVT Ltd Company GST Checklist for Pvt Ltd Company, Verify if your company meets the turnover threshold for GST registration. Apply for GST registration by providing the necessary documents and information. Invoicing and Documentation: Ensure that all invoices issued by your company are GST compliant, including details such as GSTIN, invoice… Read More »
Proof of address for GST registration When registering for GST in India, there are a number of documents that can be submitted as proof of address for GST registration. These include: 1.Aadhaar Card: This is a unique identification card issued by the Government of India, and includes the individual’s address. To Visit https://www.gst.gov.in/ 2.Passport: This… Read More »