What is GST Registration?

What is GST Registration?

What Exactly Is the GST Registration (Goods and Services Tax)? GST registration is very crucial for all the people who pay taxes. The majority of products and services sold for domestic use are subject to the goods and services tax (GST), a value-added tax (VAT). Consumers pay the GST, but businesses that sell the products …

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What is GST, or goods and services tax?  Ans. It is a consumption tax on products and services that is based on destination. It is suggested that taxes be collected at every stage, from production through final consumption, with setoff for taxes already paid at earlier stages. In essence, only value addition will be taxed, …

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GST Updates 2022 - 2023

GST Updates 2022 – 2023

  GSTR 1: Statement of Outward Supply Changes The GSTR-1 Return, also referred to as the Statement of Outward Supply, must now be filed chronologically. This indicates that returns must follow a specific order. If the prior month’s return has not been filed, the current month’s returns cannot be filed. The manner in which recipients …

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Benefits of GST to Indian Consumers

How the Indian GST Operates? GST is a planned nationwide comprehensive indirect tax that would be levied on the production, sale, and consumption of commodities as well as services. It functions as a form of value-added tax. All indirect taxes imposed on products and services by the national and state governments of India will be …

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Impact of GST on Banking sector

Impact of GST on Banking sector

  GST for banks The new GST system has increased the tax rate on transaction fees in financial services, including credit card payments, cash transfers, ATM withdrawals, processing costs for loans, etc. to 18%. As a result of the tax rate increase, individuals will now be required to pay an additional Rs 3 for every …

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Pre-GST Litigation

Pre-GST Litigation

Pre-GST Litigation: What is it?  Indirect tax litigation is a subset of pre-GST litigation. Pre-GST litigation refers to all litigation and matters that are still pending from the pre-GST system. This legal system covers cases involving excise, sales tax, VAT, and other taxes.    Why is it difficult to handle pre-GST litigation?  Managing pre-GST litigation is …

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Introduction to Accounting Outsourcing

Top Reasons Why Small Business Should Outsource Accounting & Bookkeeping

An Introduction to Accounting Outsourcing It can be difficult for many small firms, startups, and business owners to hire an accountant. Especially if they have the knowledge and abilities to create the financial statements for their business, handle bank account activities, analyse financial data and create the incoming invoices. Finding a qualified and eligible person …

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GST E-Way Bill

GST E-Way Bill

GST E-Way Bill: What is it? The e-way bill regulations under GST specify the steps and legal requirements for the transfer of goods. Electronic Way Bill is referred to as E-way Bill. Typically, it is a special bill number created for a particular consignment involving the movement of commodities. It should be noted, though, that …

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