Turnover Certificate from GST Portal Introduction A Turnover Certificate is an essential document that provides details about a business’s total turnover over a specific period. Businesses registered under the Goods and Services Tax (GST) in India often require this certificate for compliance, loan applications, or tax assessments. This article provides a step-by-step guide on… Read More »
Set off in GST Set off in GST refers to the process of adjusting the tax liability of a registered person by utilizing the input tax credit (ITC) available to them. Input tax credit is the credit that a registered person can claim for the GST paid on their purchases, which can set off… Read More »
Deadlines for GST Tax Payments The specific deadlines for GST tax payments vary based on the taxpayer’s category and the frequency of their filinga Here are some general guidelines for GST tax due dates in India: Monthly GST Return Filers: For businesses that file their GST returns on a monthly basis, the tax due… Read More »
Can one HSN code have multiple GST rates The Harmonized System of Nomenclature (HSN) code is a globally recognized system of classifying goods, primarily for the purpose of taxation. Introduce by the World Customs Organization (WCO) in 1988, the HSN system is use by over 200 countries, including India, to classify goods in a standardize… Read More »
Can I add a new HSN code addition after GST registration When a business registers under the Goods and Services Tax (GST) in India, it’s required to declare its goods and services using HSN (Harmonized System of Nomenclature) codes for goods and SAC (Services Accounting Codes) for services. These codes are critical for tax compliance… 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 »
User Intent Retailers often struggle to choose between the GST Composition Scheme and the Regular GST Scheme. This article provides a step-by-step comparison to help them decide which option is better based on their business size, tax burden, and compliance requirements. Introduction GST is a crucial tax system in India, and businesses… Read More »
GST for Freelancers GST (Goods and Services Tax) number is not mandatory for all freelancers. Whether GST freelancers need to obtain a GST number or not depends on their specific circumstances and the nature of their work. To Visit https://www.gst.gov.in/ In general, if a freelancer’s annual turnover exceeds the threshold set by the government, which… 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 »
Is one GST registration possible for different businesses Yes, the GST Act permits businesses to operate multiple businesses, business verticals, and business branches using the same GSTIN. This concept is known as Vertical Business in GST. Under this concept, you have the flexibility to register your various businesses and business branches under a single GST… Read More »
