For businesses and professionals, paying GST (Goods and Services Tax) is part of meeting tax requirements in the supply chain. Hence, it is important to know the GST payment process step-by-step. The government has made it easier by providing both online and offline options for making GST payments, giving taxpayers flexibility. To pay online, log in to […]

GST number search tool helps you with GSTIN verification and to check the validity of a GST Identification Number (GSTIN) on the internet free of cost. GST search tool also allows any person to verify the GSTIN authenticity with a single click for easily spotting fake GSTIN. Read on to know more on how to

IGST full form translates to Integrated Goods and Services Tax. IGST is one of the three components of Goods and Services Tax. IGS tax is levied when there is an inter-state transfer of goods and services. The three components of GST are:- CGST: Central Goods and Services Tax SGST: State Goods and Services Tax IGST: Integrated Goods and

The goods and services tax (GST) was created to unify indirect tax applicable on most products and services in India. It was introduced as a replacement to several other taxes that were present in the country. GST was a measure to reduce the discrepancies and loopholes that existed with all the previous taxes. The Goods

Where a registered person fails to furnish monthly or quarterly returns under Section 39 or the final return under Section 45, a notice in Form GSTR-3A shall be issued by the proper officer requiring him to furnish such returns within 15 days under Section 46. According to Section 62, when the registered person fails to

Filing of Letter of Undertaking (LUT) for zero-rated supplies by 31-03-2024 Opting for the Quarterly Return Monthly Payment (QRMP) scheme between 01-02-2024 and 30-04-2024 for eligible registrants Enrollment in the Composition Scheme by 31-03-2024, with subsequent ITC reversal filing due by 30-05-2024 Goods Transport Agency (GTA) declarations for the Forward Charge Mechanism (FCM) choice from 01-01-2024 to

In April, India’s GST collection hit a record high of ₹2.1 lakh crore, showing a strong economy start for the new fiscal year. Finance Minister Nirmala Sitharaman praised the efficient tax collection and the economy’s momentum for this achievement. Compared to last year, GST collection rose by 12.4%, mainly due to a 13% increase in

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*.  a tax-paying mechanism offered to the country’s small businesses

A “non-resident taxable person” refers to an individual who occasionally conducts transactions involving the sale of goods or provision of services, either as an agent or as a principal or in any other capacity, but lacks a permanent business or residence location in India.” Any person who is a resident of India will obtain regular

As a CTP, securing temporary GST registration is essential before initiating any business activities in the designated state or union territory. To fulfill your anticipated tax obligations, it’s necessary to make an advance tax deposit based on your estimated tax liability for the registration period. It’s crucial to note that the GST composition scheme, which