Interim Union Budget 2024: Goods and Services Tax

Interim Union Budget 2024: Goods and Services Tax With elections approaching, Finance Minister Nirmala Sitharaman presents an Interim budget for 2024, addressing the various schemes, programs, and economic development. This article gives information on GST and its proposed changes outlined…

Decoding the GST Registration Certificate: A Comprehensive Guide

Decoding the GST Registration Certificate: A Comprehensive Guide Businesses registering for the Goods and Services Tax (GST) in India are issued a GST Registration Certificate, officially designated as Form GST REG-06. This digital document is pivotal for businesses, as it…

GST Taxpayer Categories and GST Registration Procedure

GST Taxpayer Categories and GST Registration Procedure in India Understanding the different types of GST registration is crucial for anyone looking to register as a new taxpayer in India. Before you embark on the registration process, it's essential to identify…

GST Rates for Different Goods and Services in India

GST Rates for Different Goods and Services in India Understanding GST rates is crucial for entrepreneurs as they can impact the pricing of goods and services. The GST Council of India regularly updates these rates, influencing the cost of various…

GST for Restaurants in India: A Comprehensive Guide

GST for Restaurants in India: A Comprehensive Guide The Goods and Services Tax (GST) is an indirect tax reform that streamlined India's intricate tax system. It is applied to producing and distributing goods and services across the country. Restaurants, a…

GST Registration for One Person Company in India

GST Registration for One Person Company in India GST registration becomes mandatory for businesses established in India. It ensures an improved taxation system with greater transparency and minimal corruption. If you want to start a business as an individual, then…

Documents Required for GST Registration in India

Documents Required for GST Registration in India In India, businesses and individuals with an annual turnover above Rs 40 lakhs (Rs 10 lakhs in some regions) or those involved in interstate supply of goods must register for GST. This registration…

Sequential Filing of GSTR-1

Sequential Filing of GSTR-1 The Goods and Services Tax Network (GSTN) has introduced an Advisory on the Sequential Filing of GSTR-1. This advisory brings a structured approach to filing GSTR-1 returns, impacting monthly and quarterly filers. By emphasizing the sequential…

The Key Differences Between HSN Code & SAC Code

The Key Differences Between HSN Code & SAC Code The GST in India classifies all taxable goods and services by utilising HSN codes (Harmonized System of Nomenclature) and SAC codes (Service Accounting Code). These codes are crucial in facilitating international…

GST Revocation Under Composition Scheme

GST Revocation Under Composition Scheme The cancellation of Goods and Services Tax (GST) registration is a process that can be initiated by either the tax department or the registered person for specified reasons. When the department cancels the registration, a…