GSTRegistration for individuals GSTRegistration for individuals Yes, an individual person can get registered under GST in India to sell online. Businesses with an annual turnover exceeding Rs. 40 lakhs (or Rs. 20 lakhs in special category states) are required to mandatorily register for GST. In certain instances, individuals whose annual turnover falls below the prescribed… Read More »
GST registration for multiple states GST registration can obtain a taxable person under GST in each of the State or Union Territory, from where the taxable supply of goods or services made. For example, if a restaurant operates in the States of Maharashtra and Delhi, then separate GSTIN would have to be obtained for Maharashtra… Read More »
PAN number GSTIN (Goods and Services Tax Identification Number) is a unique 15-digit alphanumeric code issue to every registered taxpayer under the GST regime. The first two digits of the GSTIN represent the state code, followed by the next 10 digits representing the PAN number of the taxpayer, then a 2-digit entity code for the… Read More »
Definition of GST invoice Definition of GST invoice, A GST invoice is a crucial document issued by a supplier to the buyer, containing all the necessary details of the transaction in accordance with the Goods and Services Tax (GST) Act in India. It serves as proof of the supply of goods or services and… Read More »
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 »
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 »
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 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 »
