HSN Code for GST- Harmonized System Nomenclature

HSN Code GST - Harmonized System Nomenclature HSN code or Harmonized System Nomenclature code number is an internationally adopted commodity description and coding system developed by the World Customs Organization (WCO).  HSN code is used by more than 200 countries as a basis…

Procedure for Issuing Receipt under GST

Procedure for Issuing Receipt under GST A receipt is a written acknowledgment of having received a specified amount of money or goods. However, the term issuing receipt mostly pertains to issuing a written acknowledgment on having received a specified amount of…

GST Invoice Format and Rules

GST Invoice Format and Rules The rollout of GST in 2017 will necessitate changes to the invoice format for millions of businesses. The format for issuing GST invoice and the related rules are laid out in the GST Tax Invoice, Credit…

Statement of Origin

Statement of Origin Statement of Origin is statement provided by a registered exporter verifying the origin criteria for exports under the European Union (EU) Generalised System of Preferences (GSP). Statement of Origin shall be made out on a Commercial document such…

Certificate of Origin

Certificate of Origin Certificate of Origin is an instrument which establishes evidence o­n origin of goods imported into any country. These certificates are essential for exporters to prove where their goods come from and therefore stake their claim to whatever…

FATCA Filing

FATCA Filing The Foreign Account Tax Compliance Act (FATCA) is a legislation put in place by the United States Government. Its purpose is to ensure that foreign financial institutions provide the US government with information about clients who could be…

MCA Processing Time for Various Requests

MCA Processing Time for Various Requests The Ministry of Corporate Affairs (MCA) has published various timelines for processing of different types of applications pending with the MCA. In this article, we provide the respective work flow and the time prescribed. Availability…

Guide to Excise Duty in India

Excise Duty The primary and fundamental meaning of "excise duty" or Duty of excise is tax on articles produced or manufactured in the taxing country and intended for home consumption (i.e. consumption within the same country). It is an indirect…

Types of Customs Duty

Types of Customs Duty Basic Customs Duty Basic custom duty is the duty imposed on the value of the goods at a specific rate. The duty is fixed at a specified rate of ad-valorem basis. This duty has been imposed from…

Form STK-2 for Winding Up of Companies

Form STK-2 for Winding Up of Companies The Ministry of Corporate Affairs (MCA) has recently announced Form STK-2 for removing name from register of companies, i.e., winding up of a company. Form STK-2 will be made available by the MCA…