How to Draft a Consent Letter for GST Registration
As, in today’s era with growing e-commerce blooming around the globe, many of the businesses are being with least staff. In such time the need for owning a physical office is not as beneficial cause office spaces are taken on rent, leased or even shared also known as co-working spaces. In such premises, a consent […]
Why You Need GST Registration for Your Online Business
The Goods and Services Tax (GST) has became a revolutionary force which has altered not only the fiscal landscape of India but also that of many other countries. So, in depth examination carefully examining both the benefits and drawbacks of GST registration to enhance the impact it had on economies, companies and people. GST registration […]
Benefits of GST registration for small businesses
GST stands for goods and services tax .It is a combined indirect tax placed on the goods and services in India. The government introduced the Goods and Services Tax on July , replacing the complex system of multiple indirect taxes, including central excise duty, service tax, and value-added tax , among others. So, for fulfilling […]
Exploring DRC Full Form in GST: Meaning and Usage
DRC Full Form in GST is ‘Demand and Recovery Forms. There are times when one might discover that they have not reported their income correctly or might have missed out on something while filing GST returns. In such cases, businesses or individuals eligible for filing GST returns can use the DRC-03 form to make a […]
Understanding the Penalties for Late GST Return Filing
The goods and services tax (GST) is a value-added tax (VAT) imposed on most labor and products sold for homegrown utilization. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. This Blog discusses the penalties for late GST Return Filing. Critics point out, […]
Understanding Rule 86B of CGST Rules in GST
CGST is the final category of GST. It’s a tax levied on intrastate supplies of goods and services by the central government, and it is governed by the CGST Act. Since SGST falls under intrastate supply, it is levied in the same way, but it is now regulated by the state government. Rule 86B of […]
GSTR-3 Return Filing: All You Need to Know
GSTR-3 (GOODS AND SERVICES TAX RETURN-3) is a monthly return with the content of sales, purchases, and sales during the month along with the amount of GST(GOODS AND SERVICE TAX)Liability. Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular […]
Section 17(5) of CGST Act: Explained in Detail
Section 17(5) of CGST Act, also referred to as blocked credits, is a very important provision for every regular taxpayer under GST. It defines a list of purchases on which GST is paid but businesses cannot claim these as the Input Tax Credit (ITC). Section 17(5) of the CGST Act deals with blocked credit under […]
GSTR-8 E-commerce Operator Return: Guide
It is a monthly return to be filed by every e-commerce operator registered under GST. Therefore, it is required to be filed by those who collect TCS on outward supplies of goods and/ or services effect through the e-commerce Portal/platform (maintained by the e-commerce operator) made by taxable persons registered with it. The GSTR-8 is […]
Why Timely GST Return Filing is Critical for Your Business
As an entrepreneur in a country that has carried out the Goods and Services Tax (GST) system, it is crucial to comprehend the most common way to file GST returns. GST Return Filing are intermittent proclamation that sums up a citizen’s exchanges and is recorded with the expense specialists. GST was implemented to consolidate India’s […]
