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The Government has increased the GST turnover limit and has announced that small businesses with an annual sales turnover of upto Rs.40 lakhs will be exempt from having to obtain GST registration. The same will also be increased to Rs.20 lakhs for special category states.
List of documents required for GST registration. Registration certificate, identity & address proof of promoters and DSC is required for GST registration.
Procedure to create a GST invoice as per the GST Act or download a sample GST invoice as per GST Invoice Rules. Under GST, GSTIN of the supplier is mandatorily required to be mentioned in the tax invoice along with a consecutive serial number that is unique for each financial year.
Procedure and criteria for obtaining GST registration for branches and business verticals within the same state and operating under different states.
The meaning of interstate and intrastate supply under GST with illustrations. In GST, the terms interstate and intrastate have tremendous significance in the determination of IGST, CGST or SGST. Interstate supply attracts IGST, while intrastate supply attracts CGST and SGST.
Meaning and difference between CGST, SGST and IGST. CGST and SGST are applicable on intra-state supplies. IGST is applicable on inter-state supplies.
GST composition scheme helps small businesses with turnover of less than Rs.150 lakhs by simplifying the GST tax return filing procedure and allowing quarterly filing of GST returns.
File GST return online through IndiaFilings with GST Expert Support. You can prepare and file GSTR-1, GSTR-2, GSTR-3 and GSTR-4 return online through IndiaFilings. In addition to filing GST returns, you can also issue GST invoices and record purchases on LEDGERS to automatically file GST returns.
Last updated: Feb 20, 2021