In financial transactions, businesses often use various documents to record their business dealings. However, one such crucial document that plays an essential role in business is a debit note. In this comprehensive guide, we will explore debit notes in detail. So, let’s get started. Debit Note Meaning It is also known as a debit memo, …
Goods and Services Tax is one of the major tax reforms introduced in India whose main aim was to simplify the complex system of indirect tax structure. Since its inception, GST has replaced varied indirect taxes while bringing uniformity and transparency to the taxation system. However, GST is not a one-size-fits-all tax; it comes in …
Types of GST in India – CGST, SGST, IGST, and UGST explained in detail Read More »
Ever since the Government of India imposed the goods and services tax in India on July 1, 2017, it has become important for taxpayers to understand GST rules and obligations. So, whether you’re a business or an individual, it’s time you get an in-depth overview of registration on GST. Welcome to this comprehensive post, where …
An All-Encompassing Guide to GST Registration: Meaning, Documents, Steps, and More Read More »
The GSTIN full form stands for goods and services taxation identification number. It is a combination of unique fifteen-digit numbers that is allocated to all taxpayers. The taxpayers are generally the suppliers and dealers of a business body belonging to any sector. The GSTIN code is signed under the primary regime of GST. Prior to …
What is GSTIN? – All You Know about your 15 Digits GSTIN Read More »
In our everyday lives, we often engage in various transactions, whether buying groceries, shopping online or paying bills. However, with these transactions comes a crucial piece of paper or digital record known as a payment receipt. So, let’s find all the receipting payments in detail. Receipt of Payment Meaning A payment receipt is a document …
While GST has created a unified tax structure, complexity persists regarding the applicability of rates, input tax credits, exemptions, and procedural compliance. There is a lack of clarity among developers, contractors, and consumers when it comes to calculating tax liability. This often leads to tax evasion, penalties, or increased costs for home buyers. This comprehensive …
The system of GST took over the tax procedures and prices in July 2017, when the GST website became live. All businesses in India began to modify the GST tax procedure. The process involved the GST filing method and registration. Depending on the global approach for dividing the item in foreign trade, the GST rates …
GST, or the Goods and Services Tax, is one of the most commonly discussed topics in the Indian tax world. Ever since its inception, GST and its evolving regulations have had a significant impact on various industries, including the insurance sectors in the nation. Particularly, the Goods and Services Tax also influenced some of the …
GST on Life Insurance Premiums: All you need to know Read More »
GSTR 2B, also known as ‘Goods & Service Tax Return 2B,’ is a document issued by the Goods and Services Tax Network (GSTN). It contains comprehensive information regarding the goods and services acquired from registered suppliers. This form holds significant importance for businesses as it aids in aligning their purchase records with their vendors. GSTR …
What is GSTR 2B? Objectives, characteristics, advantages, and how to file it Read More »
The GST Council enhanced the threshold limit in GST in response to demands made by MSMEs. These modifications were recommended on January 10, 2019, during the 32nd GST Council meeting. The CBIC subsequently informed it. It facilitates easier GST compliance. This article will describe the meaning of limits for GST registration in detail. Learn about …
