Turnover Certificate from GST Portal To download a turnover certificate from the GST (Goods and Services Tax) portal, you can follow these steps: 1. Visit the GST Portal: Go to the official GST portal of your country. For example, in India, the GST portal is https://www.gst.gov.in/. 2. Log in to Your GST Account: Log… 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 No, one cannot have multiple GST rates. Each HSN code is associated with a specific GST rates based on the type of goods or services being supplied. The GST rates are fixed by the GST Council, and each is assigned a specific rate based on the category… Read More »
Can I add a new HSN code addition after GST registration Yes, it is possible to add a new HSN code addition after the GST registration. Businesses can add new goods and services under different HSN codes as and when required. The process for adding a new HSN code involves logging in to the GST… Read More »
GST for Ecommerce Operator GST for Ecommerce operator, involves fulfilling the Goods and Services Tax (GST) requirements set by the tax authority. 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… Read More »
GST Composition Scheme The GST composition scheme is an optional scheme designed for small taxpayers in India with an annual turnover of up to Rs. 1.5 crores. This scheme offers certain advantages, including lower tax rates, simplified compliance requirements, and reduced paperwork. The suitability of the composition scheme for retailers compared to the… 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 Website link 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… 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 »