GST compliance To check your GST compliance, you can proceed by following these steps: Visit the official GST portal or website of your country’s tax authority responsible for GST administration. Login to your GST account using your registered credentials such as your GSTIN (Goods and Services Tax Identification Number) and password. To visit https://www.gst.gov.in/ Once… Read More »
Importance of tax compliance Importance of tax compliance, Tax compliance is important for several reasons: Legal Requirement: Tax compliance is a legal obligation. Individuals and businesses are required by law to accurately report their income, calculate their tax liabilities correctly, and submit tax returns within specified deadlines. Non-compliance with tax laws can result in… Read More »
GST Compliance Issues GST Compliance issues,The characteristics and scope of GST compliance issues may differ based on the specific context and circumstances at hand. Here are some common GST regulations compliance issues that individuals and businesses may face: Timely Filing of Returns: One of the key compliance requirements under GST regulation is the timely… Read More »
GST Recovery Process GST Recovery Process, If a wrong or extra payment has been made under the Goods and Services Tax (GST) system, it is possible to seek a refund or adjustment for the excess amount paid. Good and service Tax Recovery Process for obtaining a refund or correcting the payment may vary… Read More »
GST compliance rating The Goods and Services Tax (GST) compliance rating is a unique initiative introduced by the Indian government to enhance transparency and encourage businesses to adhere to GST regulations. It reflects the compliance behavior of a business in relation to filing returns, paying taxes, and maintaining accurate records under the GST framework.… Read More »
How to do GST compliance for private limited company Compliance with GST for a private limited company entails meeting the prescribed guidelines and fulfilling the requirements of the Goods and Services Tax (GST) as established by the tax authority. Here are some key aspects of GST for Private limited company: GST Registration: If your company… Read More »
GST for Ecommerce Operator Here are some key aspects of GST compliance for an e-commerce operator: GST Registration: An e-commerce operator is required to obtain GST registration, irrespective of its turnover. The registration process involves providing the necessary information and documents to obtain a GST registration number. Tax Collection at Source (TCS): As… Read More »
GST Composition Scheme The Goods and Services Tax (GST) Composition Scheme is a simplified tax scheme designed to benefit small and medium enterprises (SMEs) by reducing their compliance burden. It allows eligible businesses to pay GST at a fixed rate on their turnover rather than the standard GST rates. This guide provides a comprehensive… Read More »
GST Compliance for Manufacturing Companies GST Compliance for Manufacturing Companies involves adhering to the rules and regulations related to the production, supply, and taxation of goods. Here are some key points to consider for GST requirements manufacturers: 1. Registration: Manufacturing companies are required to obtain GST registration if their annual turnover exceeds the threshold… Read More »
GST compliance for export of services ? Place of Supply: Determine the place of supply for the services provided. In the case of of services, the place of supply is considered to be outside India. Export of Services: To qualify as export of services, certain conditions need to be met. The services should be provided… Read More »