STUDY TO ENLIGHTEN YOURSELF
GST SUVIDHA PROVIDER GSP stands for GST Suvidha Provider. GST Suvidha Providers are the special entities who have been authorized to develop a platform to enable the taxpayer to do the GST compliances. A GSP enables a GST taxpayer to comply with all the procedural provisions of the GST law through its web platform. A…
Read More “GST SUVIDHA PROVIDER” »
GST NETWORK GSTN stands for Goods and Service Tax Network (GST Network). It is a non-profit, non-government company jointly promoted by central and state governments. This organization is responsible for providing shared IT, infrastructure and services to central and state governments, taxpayers and other stakeholders. All the front – end activities carried out by a…
GST RETURNS GST RETURN MEANING GST Return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include: Purchases Sales Output GST (On sales) Input tax credit (GST paid…
E WAY BILL IN GST E Way Bill in GST is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in. Alternatively, E-way…
Read More “E WAY BILL IN GST” »
SUPPLEMENTARY INVOICE IN GST Supplementary invoice in GST is a type of invoice that is issued by a taxable person in case where any deficiency is found in a tax invoice already issued by a taxable person. It can be in form of a debit note or a credit note. According to the GST Act,…
Read More “SUPPLEMENTARY INVOICE IN GST – DETAILED EXPLANATION” »
REVISED INVOICE IN GST Under GST, all the taxable dealers will have to apply for provisional registration and carry out all the formalities post which they will get the permanent registration certificate. For all the invoices issued between the period – Date of implementation of GST Date of issue of Registration certificate The dealers will…
Read More “REVISED INVOICE IN GST” »
The difference between Debit note and Credit note is as follows: DEBIT NOTE IN GST Debit note is a document issued by a supplier under Section 34(3)of CGST Act, 2017, when there is a need of increase in taxable value or increase in GST charged in invoice. The tax liability of the supplier will increase,…
Read More “DEBIT NOTE AND CREDIT NOTE” »
MEANING Credit Note is a document that is issued by a registered person under section 34(1) of CGST Act 2017 when supplies are returned or found deficient, or decrease in taxable value or GST charged in invoice. The tax liability of the supplier will reduce, as and when the Cr. Note is issued by the…
MEANING Debit Note is a document issued by a supplier under Section 34(3)of CGST Act, 2017, when there is a need of increase in taxable value or increase in GST charged in invoice. The tax liability of the supplier will increase, as and when the Dr. Note is issued by the supplier. It is to…
TAX INVOICE UNDER GST The Tax invoice under GST is a compulsory required document to be issued for supply made by the every registered person under the provisions of GST Act. This document primarily represents the transaction entered between the two parties. The provisions regarding the Tax Invoice is given in the Section 31 of…
Read More “TAX INVOICE UNDER GST” »