Tag: GST

PAN, TAN, TIN And GSTIN Numbers: What’s The Difference

To accumulate & manage tax collection from different incomes, the IT department issues some identification numbers, i.e., PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) of entities such as individuals, firms, and other organizations. A permanent account number is a unique number for someone who pays income taxes or does any business

Concept Of E Way bill In GST : How To Generate It

What is E Waybill: Before discussing waybill under GST, we must know about E-way bill. The Way bill is basically a physical document necessary for transportation of Goods. This is not an invoice but contains all details of invoice. It includes quantity, item name, details of vehicle & transporter. Earlier it was a nightmare for suppliers

GST Registration Procedure in India

Any firm doing a taxable supply of goods/services after GST Bill implementation and whose Annual turnover surpasses the limit of INR 10 lakh or 20 Lakh (as applicable) will be obliged to enroll as a regular taxable person. This process is of enrollment is called GST registration. GST Registration is Important. Why????? GST registration is

GST in India: Advantages, Disadvantages and Challenges

GST in India is the replacement of all previous taxes on the goods and services. It is an indirect tax that will take over all previous taxes. There are many challenges before the government for its implementation, success and proper benefit gain. CHALLENGES FOR GST in India: Legacy issues which will use more resources Non-reconciliation

An Overview To GST In India

As we all know GST is now in action in India, but still so many queries are there in the minds of Common people, Businessmen, Industrialists, employees, etc. The full form of GST is Goods and Services Tax. Here I am trying my best to explain GST straightforwardly. GST was proposed much earlier in India