Small-business owners often have a difficult time calculating GST, and besides, adding and subtracting GST takes up lots of time and brainpower. It is for this purpose that we developed our new GST calculator-a tool that is easy to use, no fuss, and makes GST calculations quick and easy. GST Calculator: How to use it … Read More “How to make calculating GST easier?” »
Types of GST returns GSTR1 A tax return for outward supplies made during the tax period (it contains details about both interstate and intrastate B2B and B2C sales, as well as reverse charge purchases and interstate stock transfers). A late fee will be automatically populated in Form GSTR-3B when Form GSTR-1 is filed late (after … Read More “Types of GST returns” »
There are four types of GST: Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). Each of them has a different tax rate. A significant amount of confusion has been witnessed regarding the new indirect tax regime under … Read More “GST Types In India” »
Many businesses operate out of their owners’ homes since they don’t require a physical location. If the taxpayer is the legal owner of the property where the work will be performed, they must upload proof of ownership when registering. If the property is rented, you must provide a copy of the signed lease or rental … Read More “GST Consent Letter Format and Requirements” »
GST Composition Scheme participants are required to file GSTR-4 quarterly. Registrants of the GST Composition Scheme must file a single tax return every quarter instead of three monthly returns, and they are required to pay a flat tax on their sales turnover. GST composition schemes are not available to all businesses. In order to be … Read More “GSTR-4 Filing – Quarterly Return For Composition Scheme” »
Contract labour services are subject to GST on labour charges. The introduction of GST for labour charges might leave many workers confused about how to apply the GST rate to their work. There are different kinds of labour treaties under GST law, and the labour GST rates for each differ. In spite of the fact … Read More “GST on Labour Charges” »
gst registration process – With the introduction of the Goods and Services Tax (GST) in India, new business establishments and operations have been significantly affected. GST registration requires a turnover of at least *40/20 lakhs. If you want to register for GST, your products and services must cross state lines or be sold online. Startups … Read More “Are GST registrations mandatory for startups?” »
In India, you need these documents for GST (Goods and Services Tax) registration GST registration is required by all Indians who provide goods or services. Registration becomes mandatory when the value of supplies exceeds ₹20 lakhs. To simplify the reporting of taxes, the Ministry of Finance (MoF) simplified the GST registration process. The entity must … Read More “GST Registration Documents in India” »
The GST automates the compliance for various indirect tax compliances such as excise tax, service tax, CST, VAT, and others. A GSTIN is required for the taxpayer to collect and pay GST on outward supplies (sales) and claim GST credit on inward supplies (purchases). A GST-compliant small business also pays less tax compliance fees. Due … Read More “What Types of GST Registration Are There?” »
India has significantly changed the way businesses are established and run since the introduction of the Goods and Services Tax (GST). You must have a turnover of over *40/20 lakh to qualify for GST registration. GST registration is only applicable to businesses that offer products and services across state lines or via an e-commerce platform. … Read More “GST Registration Is Required for Startups?” »
