note_addAdd Question
mode_editWrite Article
notificationsNotifications
0

Gst related published Questions

#Question# What is lvo in gst?

#Answer#

Mayra Mistry answered


I want to register for GST. This will help in Migration cases and New GST registration as applicants have to.

#Question# What is inward supply in gst?

#Answer#

Tanvi Dar answered


GSTR-2: This post explain the details of inward supplies, how GSTR-2 would be prepared & procedure for rectifying error in GSTR-2. Here are some of the key changes between the old and new GST return systems relating to inward supplies and input tax credit. GST Due date for GSTR-2 for July has been extended to 30th Nov. Types of Supply under GST www.

#Question# What is gsp in gst?

#Answer#

Navya Naik answered


GSP is an acronym of GST Suvidha Provider. GST Suvidha Provider (GSP) is considered as an enabler for businesses to comply with the provisions of GST law through their GST Software. GSP stands for GST Suvidha Provider. These applications have the benefit of being much more user friendly and customer focused. GST Suvidha Provider Meaning · GST Suvidha Provider List PDF · GST Suvidha Kendra · What is GSTN? · Who can Become a GSP? · GSP Concept. A GST Suvidha Provider (GSP) is a facilitator which helps taxpayers to file their returns efficiently.

#Question# What is evc in gst?

#Answer#

Pahal Bal answered


Electronic Verification Code (EVC), In the GST portal, a person can authenticate the user using an OTP (One Time Password). EVCor Electronic Verification Code is a one time code/One Time Password(OTP) generated to verify the identity of the person using the portal. DSC (Digital Signature Certificate), Electronic Signature (E-Sign) and Electronic Verification Code (EVC) are the three methods of user. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said any registered person during the period from the April 21, 2020 to. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said any registered person during the period from the April 21, 2020 to.

#Question# What is sez taxpayer in gst?

#Answer#

Idhant Bajaj answered


An SEZ area is considered to be a foreign territory for trade operations and duties, and is mainly set up for promoting exports. A special economic zone (SEZ) is a dedicated zone wherein businesses enjoy simpler tax and easier legal compliances. SEZ Treatment Before GST: Section 26 of the SEZ Act grants exemption, to every SEZ Unit and developer, from: • Any duty of customs under Customs Act, 1962 on. The SEZ Act, 2005 contains special provision regarding procurement of goods and services without payment of taxes, in line with the same, GST. Notification specifying NOIDA SEZ, Madras SEZ, FALTA SEZ and Visakhapatnam SEZ as Special Economic Zone under section 3 of the Central Excise Act, 1944.

#Question# What is oidar in gst?

#Answer#

Keya Prabhakar answered


Online Information Database Access and Retrieval services (hereinafter referred to as OIDAR) is a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such services. What is an OIDAR service exactly? Applicability of GST for OIDAR services; Who will register when. Online Information Data Base Access and Retrieval (OIDAR) Services in GST · Advertising on the internet · Providing cloud services · Provision of e-books, movie,. OIDAR Service GST: Read this post to know all about OIDAR services in GST. ONLINE INFORMATION DATABASE ACCESS AND RETRIEVAL (OIDAR) SERVICES IN GST WHAT IS OIDAR? Online information database. What is OIDAR? Online Information Database Access and Retrieval services ( hereinafter referred to as OIDAR) is a category of services.

#Question# What is eou in gst?

#Answer#

Alex Bera answered


Introduced in 1981, the Export Oriented Units (EOU) scheme aims to increase exports from India, to thereby increase foreign exchange earnings and create employment. However, the benefit of Basic Customs Duty exemption on imports will continue. Supply of goods by the registered person to Export Oriented Unit (EOU)/ Electronic. According to GST Law, suppliers to EOU will pay normal GST as they would pay while supplying to a domestic unit. Is GST applicable for EOUs in India? GST and EOU in India.

#Question# What is lut in gst?

#Answer#

Larisa Kibe answered


A Letter of Undertaking (LUT) is a document that exporters can file to export goods or services without having to pay taxes. Brief on refund of IGST paid on Exports; Steps for claiming refund of IGST paid on Exports; When to file form RFD-01 / RFD-01A (for tax refund in. Exporters can now file Letter of Undertaking(LUT) online on GST portal before exporting Goods/ services without payment of IGST. LUT in GST: GST Letter of Undertaking · Export under Bond/LUT without payment of IGST in which case the exporter can claim refund of the. GST LUT or Letter of Undertaking can be filed by exporters using Form GST RFD 11 to enable exports from India without making IGST payment.

#Question# What is urp in gst?

#Answer#

Alisha Goda answered


Section 2(84) of the CGST Act terms the person who is not registered under the Act as an unregistered person (URP). The consumer can fill in the vehicle number in Part B of Form GST. Note: If the supplier/client is unregistered, then mention 'URP' in the field. For any E-way bill where one party is unregistered you need to mention URP. this will help you to generate e way bill without gst no. Detail guide on practical aspects of e-way bill in GST.

#Question# What is fcm in gst?

#Answer#

Idhant Bajaj answered


Government supplies under GST, Supplies made by Government to a business entity are generally covered in GST under the Reverse charge mechanism (RCM) basis. What is Reverse charge mechanism and forward charge mechanism in gst? What is the difference between these two. FCM and RCM under GST. What is a reverse charge mechanism under GST? 25,149 Views. GST is to be paid by the recipient of service.

#Question# What is dsc in gst?

#Answer#

Kevin Vohra answered


Also, DSC under GST is an important term that is used in each and every form for the identification of the taxpayer. STEP 1: Access to GST Portal · STEP 2: Member Login · STEP 3: Select Your Profile · STEP 4: Register/Update DSC using your DSC USB Token. DSC (Digital Signature Certificate), Electronic Signature (E-Sign) and Electronic Verification Code (EVC) are the three methods of user authentication in the GST portal. Digital Signature Certificate (DSC) is one of the options for authenticating users on the GST portal. Class 2 Digital Signature Certificate for GST filing. How to Register Digital Signature Certificate (DSC) on GST Portal · Electronic Signature Electronic signatures, as the term suggests, are online signatures that can.

#Question# What is cmp 08 under gst?

#Answer#

Neysa Buch answered


Form GST CMP-08 is a special return form/statement that is used by the 'specified persons' to fill the summary/details of their self-assessed liability or self-assessed tax for any given quarter. Learn how to file CMP-08 on GST portal through this article. Find answers to all your CMP-08 related queries with the help of this article which is. GST CMP-08 is a statement declaring summary of the self assessed tax payable for a given quarter by composition dealers under the GST. Form CMP 08 is a quarterly return form which is required to be filed by every taxpayer who has opted-in for the Composition Scheme under GST. A composition dealer is a dealer who has been registered under the composition scheme of GST.

#Question# What is urd in gst?

#Answer#

Luv Raj answered


Reverse Charge under GST is a very important topic. 7,500 on purchases from a URD. All about Reverse Charge under GST · What is Reverse Charge? · When is Reverse Charge Applicable? · Time of Supply under Reverse Charge. No RCM on procurements made from unregistered person till March 31, 2018 The Central Government vide Notification No. Purchase from URD - Reverse Charge Liability Report for GST.

#Question# What is cbec in gst?

#Answer#

Mehar Dugal answered


With excise duty, service tax, along side nearly a dozen other central and state levies being subsumed in the Goods and Services Tax (GST) rolled out from July 1, the ambit of the Central Board of Excise and Customs (CBEC) has widened. National e-Governance Division, MeitY- Online PG Diploma Programme on Cyber Law, Crime Investigation & Digital Forensics. CBEC is being renamed as the Central Board of Indirect Taxes & Customs (CBIC ), after getting legislative approval. With excise duty, service tax, along side nearly a dozen other central and state levies being subsumed in the Goods and Services Tax (GST). Central Board of Indirect Taxes and Custom (CBIC) GST Portal : Earlier known as CBEC.

#Question# What is uin in gst?

#Answer#

Idhant Bajaj answered


A UIN or Unique Identification Number is a GST Exempt class under GST regime for specified person/organisations such as foreign diplomatic missions and embassies, who do not carry any outward transaction and thus are entitled to the refund of the tax paid on inward supplies. All about UIN : Unique Identification Number · Who can apply for UIN under GST? · What is the purpose. Unique Identification Number (UIN) under GST. What-is-UIN? UIN stands for Unique Identity Number. GST Unique ID or UIN is provided to consulates, embassies and UN bodies for claiming GST refund.

#Question# What is rcm in gst?

#Answer#

Anushka Chaudhuri answered


Reverse Charge Mechanism under GST is a mechanism under which the usual cycle of tax payment is reversed. 28th May 2018: List of items under RCM updated to include the Priority Sector Lending Certificate by a GST registered person to another GST. Under GST, time of supply means a particular point in time when the goods or services are rendered or supplied. Generally, the supplier of goods or services is liable to pay. GST Reverse Charge Mechanism (RCM) basically means that the GST is to be paid and deposited with the Govt by the recipient of Goods/ Services and not by. Introduction of RCM under GST.

#Question# What is suo moto in gst?

#Answer#

Shrishti Maharaj answered


Ans: Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as mentioned in the provisions of GST law like: – Failure to furnish Application for Enrollment within 3 months from the appointed day or such extended period specified. In this article, we will discuss the situations in which GST Registration will be suo moto cancelled by GST Officer and how these defaulting. If a tax payer does not comply with the provisions laid down under Goods and Service Tax, the proper officer is empowered to initiate cancellation of GST registration of such defaulting tax payer. PROCESSING OF SUOMOTTO CANCELLATION OF REGISTRATION. Suo moto cancellation of registration is an action taken against the taxpayer to cancel his registration under Goods and Services act by the tax. Filing of Application for GST Registration; Secure GST Identification Number.

#Question# What is sez in gst?

#Answer#

Yash Sood answered


A special economic zone (SEZ) is a dedicated zone wherein businesses enjoy simpler tax and easier legal compliances. SEZ Treatment Before GST: Section 26 of the SEZ Act grants exemption, to every SEZ Unit and developer, from: • Any duty of customs under Customs Act, 1962 on. Ideally, SEZ units/developers do not have any GST liabilities, however, in some scenarios, they may have to pay GST against an invoice(inclusive. The SEZ Act, 2005 contains special provision regarding procurement of goods and services without payment of taxes, in line with the same, GST.

#Question# What is rnr in gst?

#Answer#

Avni Agate answered


Revenue neutral rate(RNR) is a structure of different rates established in order to match the current revenue generation with revenue under GST. What is Revenue Neutral Rate Under GST (RNR)? GST combines all the different taxes. Committee on GST rates has suggested RNR of 15 % to 15. Report on the Revenue Neutral Rate (RNR) and Structure of Rates for the Goods and Services Tax (GST) by Committee headed by Chief Economic Adviser. Revenue Neutral Rate under GST in India. Specifically, the GST should aim at tax rates that protect revenue, simplify administration, encourage compliance, avoid adding to inflationary.

#Question# What is cpin in gst?

#Answer#

Nehrika Kulkarni answered


You have to login on GSTN portal and fill the particulars of the challan online and thus the challan is generated on GSTN portal will provide a unique 14 digit ID (CPIN). The CPIN is issued at the time generating GST tax challan by online. The full form of CPIN is Common Portal Identification Number. CPIN stands for Common Portal Identification Number where as CIN stands for Challan Identification Number. What is CPIN in GST? CPIN stands for “Common Portal Identification Number”.

#Question# What is s gst?

#Answer#

Pavati Master answered


8 days ago · 4. Goods and Services Tax is an indirect tax used in India on the supply of goods and services. CGST is another component of GST levied and collected by central government on intra-state supplies. SGST means State Goods and Service Tax, one of the three categories under Goods and Service Tax (CGST, IGST and SGST) with a concept of one tax one. CGST is a tax charged on intrastate supply of goods and services by the central government and is governed by the CGST Act, 2017. How to know when SGST/CGST or IGST is applicable? SGST, CGST and IGST rates of some common items; Input Tax Credit and GST.

#Question# What is arn no in gst?

#Answer#

Laksh Shroff answered


Application Reference Number (ARN) is an acknowledgement issued by GSTN system portal to the taxpayers who have successfully submitted their application after completing the full process.

Application Reference Number (ARN) is also generated at the time of submitting GST enrolment application that is electronically signed using DSC. After Applying for GST Registration you will have an Application Reference Number (ARN). After submitting the enrollment application successfully at the GST System Portal, ARN number will be created automatically. GST ARN number is used to track all GST registration application.

#Question# What is brn number in gst?

#Answer#

Aaradhya Puri answered


Once the payment has been made by the taxpayer and CIN is generated and reported by the recipient bank along with its transaction number (BRN), CIN which has CPIN embedded there in, would be used as key Id in subsequent stages. The 14-digit CPIN number is generated before payment of GST and the 17-digit CIN number is issued after payment of GST. What are CPIN, CIN, BRN and E-FPB? CIN or Challan Identification Number is generated by the banks, once payment in lieu of a generated Challan is successful. BRN or bank Reference Number is the transaction number given by the bank for a payment against a Challan. BRN refers to Bank Reference Number that is used to carry out local transactions to make payment against certain invoices raised. Application for Business Registration Number.

#Question# What is wopay and wpay in gst?

#Answer#

Sadhil Deo answered


WOPAY - Export without Payment of Duty. GST Portal shares the export data declared under GSTR1 along with a. Select either 'WPAY'/'WOPAY' (with payment or without payment of IGST on exports) from the 'GST payment' dropdown list for each invoice. 27, ex_tp, With / Without payment of GST, WPAY-With payment of GST, WOPAY- Without payment of GST, Export. after taking refund of inverted tax structure can we apply for refund for export with out payment of gst - GST Import / Export. Also Read- GST Refund on Account of Export of Services (With Payment.

#Question# What is odn in sap gst?

#Answer#

Drishti Iyer answered


Official Document number (ODN), The official document number is used for documents such as invoices that are issued to customers, Vendor invoice posting and also presented to the tax authorities. Official Document Numbering(ODN) Configuration SD/MM/FI for GST. Hello Gurus, In this peak period of GST Activity for 1st July GST Go Live, we have done all the necessary configurations for ODN as per SAP. Official document numbering (ODN) in Contract Accounts Receivable and Payable (FI-CA) allows you to do the following: Be legally compliant in a certain country with regards to the numbering of documents. SAP GST ODN Number Configuration · SAP GST Business Place Configuration · SAP GST Tax Indicator (TAXIM) Fields · SAP J_1ig_inv Table for. Official Document Numbering(ODN) Configuration SD/MM/FI for GST Purpose The purpose of this page is to clarify the required settings for.

#Question# What is prn number in gst?

#Answer#

Rishaan Nazareth answered


Payment Reference NumberA confirmation message is displayed after which the taxpayer has to click on the OK button. Learn through a step-by-step guide on how to pay and file GST Form. Payment Reference Number (PRN) is displayed on the screen. Using Payment Reference Number: If payment has been made and. These additional liabilities that an individual's need to pay can be paid via provision given on the GST portal which allows us to do so. we paid tax to GST but didn t file Gstr 3b naturally payment amount reflect in cash ledger when file Gstr 9 liabilities are shown but we have no.

#Question# What is nz gst?

#Answer#

Taksh Devan answered


Goods and Services Tax is a value-added tax or consumption tax for goods and services consumed in New Zealand. Goods and Services Tax (GST) is a value-added tax or consumption tax for goods and services consumed in New Zealand. GST is a tax added to the price of most goods and services, including imports. GST is tax on goods and services. New Zealand's BEST GST Calculator - so simple to use on your computer or mobile. Goods and services tax (GST) is added to the price of most products and services.

#Question# What is tdr in gst?

#Answer#

Shanaya Sawhney answered


How would the promoter determine GST on TDR? Value of TDR, shall be equal to the amount charged by the promoter for similar apartments from the independent buyers booked on the date that is nearest to the date on which such development rights or FSI is transferred by the land owner to the promoter. The applicant submitted that Sale of TDR / Additional FSI does not amount to taxable supply under GST being in nature of sale of land /. TDR is not taxable under GST until or unless the developments rights are transferred to construct residential units. DRC issued to land owners, if transferable, is known as Transferable. TDR or FSI or long term lease of land used for construction of commercial apartments shall attract GST of 18%.

#Question# What is arn number in gst?

#Answer#

Larisa Kibe answered


Application Reference NumberApplication Reference Number (ARN) is an acknowledgement issued by GSTN system portal to the taxpayers who have successfully submitted their application after completing the full process.

Application Reference Number (ARN) is also generated at the time of submitting GST enrolment application that is electronically signed using DSC. After Applying for GST Registration you will have an Application Reference Number (ARN). After submitting the enrollment application successfully at the GST System Portal, ARN number will be created automatically. GST ARN number is used to track all GST registration application.

#Question# What is gta in gst?

#Answer#

Nehrika Kulkarni answered


11, (i) Services of goods transport agency (GTA) in relation to transportation of goods (including used household goods for personal use) (Heading 9965 &9967 respectively) attracts GST @2. Goods Transport Agency under GST · Various Scenarios to Determine Eligibility of ITC · Invoicing for GTA · Payment of Tax by a GTA. GST laws define GTA in notification no. A) Definition As per Notification-12/2017, Clause no-ze, Dt-28. GTA have the option to charge GST at the rate of 2. Everything you need to know about GTA (Goods Transport Agency) under the GST Act.

#Question# What is drc 01 in gst?

#Answer#

Kaia Singh answered


A person to whom notice has been issued in form DRC-01 or DRC-02 can make payment and intimate it to proper officer in form DRC-03 within 30 days from the date of issuance of such notice. FORM GST DRC-01(digital summary of show cause notice) is an online functionality made available to the tax officer to share the details with. What is the purpose of issuing Form DRC-01A? As per the Rules, previously, at the time of serving of a notice or statement, the proper officer had to issue a summary in Form GST DRC-01 or Form GST DRC-02, as the case may be, that specified the details of tax payable. (2) of section 76, a summary thereof electronically in FORM GST DRC-01,. Summary in DRC-01 to accompany Notice Issued-Rule 142(1) Section 74 -: Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilful misstatement or suppression of facts. FORM GST DRC - 01.

#Question# What is irp in gst?

#Answer#

Dasya Sathe answered


The Invoice Registration Portals (IRP) under GST is a portal that would help in authenticating the generated invoices by allotting Invoice Reference Numbers (IRN) and QR Code to each invoice or CDN (Credit or Debit Note). All about Invoice Registration Portal (IRP) under GST · 1. Save Maximum Tax with Cleartax GST Software. E-Invoice - Invoice Registration Portal · www. Registration can be sought only from a Person as per the Definition of Person under GST Act. Facility for registration of IRP/RPs made available on the GST Portal 1.

#Question# What is dta in gst?

#Answer#

Luv Raj answered


Domestic Tariff Area (DTA) or Domestic Tariff Zone (DTZ) means an area within India that is outside the Special Economic Zones and EOU/EHTP/STP/BTP. What does Domestic Tariff Area mean? Have you read my article – Customs Bonded Area? I have written in detail in simple language to make you easily. This post explains about the DTA sales procedures under GST regime. Currently, all Goods and Services provided from a unit operating from SEZ to a business in Domestic Tariff Area (DTA) is considered as an import. Supplies from SEZ to DTA are considered to be imports and are levied with integrated GST (IGST), which is in addition to basic customs duty. When the goods are removed from SEZ to DTA for supply to DTA, the.

#Question# What is ltu in gst?

#Answer#

Avni Agate answered


A letter of undertaking (LTU) is the documents format of which is being prescribed under form GST RFD 11 under rule 96A. When to file form RFD-01 / RFD-01A (for tax refund in case of exports); What is Letter of Undertaking (LUT) and Bonds; Who can use Letter of. Revised Administrative Instructions for LTU Assessment Criteria. LTU means Large Tax Payer Unit. Letter of Undertaking is commonly known as LUT.

#Question# What is srn number in gst?

#Answer#

Ranbir Pandya answered


SRN stands for Service Request Number. After Applying for GST Registration you will have an Application Reference Number (ARN). Service Request Number (SRN) Method. What is SRN no Pleas someone clarify this.

#Question# What is itc in gst?

#Answer#

Adah Hora answered


Input Tax Credit or ITC is the tax that a business pays on a purchase and that it can use to reduce its tax liability when it makes a sale. Update as on 9th October 2019 · Input tax credit cannot be taken on purchase invoices which are more than one year old. Input Tax Credit – ITC · What is input tax credit? · Who can claim ITC? · What can be claimed as ITC? · How to claim ITC?,Who can claim ITC? · How to claim ITC? · Special cases of ITC. What is Input Tax Credit (ITC)?. Input Tax Credit means claiming the credit of the GST paid on purchase of Goods and Services which are used for the furtherance of business. ITC is a mechanism to avoid cascading of taxes.

#Question# What is cess in gst?

#Answer#

Kahaan Munshi answered


The cess will compensate the states for any revenue loss on account of implementation of GST. Who pays cess? What is meant by cess in GST? In the case of the cess levied on direct taxes, it is added to the basic tax liability of. GST cess is a compensation cess levied on certain goods or services. GST Compensation Cess is levied by the Goods and Services Tax (Compensation to States) Act 2017. GST Cess is calculated on the price of the notified goods before GST. Seeks to amend notification No.

#Question# What is isd in gst?

#Answer#

Luv Raj answered


Input Service Distributor (ISD) means an office of the supplier of goods or services or both which receives tax invoices towards receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax (CGST), State tax (SGST)/ Union territory tax (UTGST) or integrated tax (. Who is an Input service distributor(ISD) under GST? · Situations where ISD is not applicable · Purpose of registering as ISD · Insight on ISD under. The concept of ISD under GST is a legacy carried over from the service tax regime. Formation of ISD is for distribution of Input tax credit on common input services whose invoice has been raised to such ISD.

#Question# What is ewb data in gst?

#Answer#

Ved Chakraborty answered


An overview of e-Way Bills in Form EWB-01, Form GST EWB-01 is the e-Way Bill document that needs to be carried by the person-in-charge of the conveyance for movement of goods where the value of consignment exceeds Rs. To import B2B EWB invoices in the Form GSTR-1, perform following steps: 1. GSTR 1 detail from EWB Data & 1 very Important Info on Reverse Charge. Get to know all steps to import the invoice data from the e-way bill portal to.

#Question# What is nil rated supply in gst?

#Answer#

Ranbir Pandya answered


This type of supply attracts a GST of 0%. Non-GST Supply Non-GST Supply means supply of goods or services or both which is not leviable to tax under GST. *Zero-rated supplies such as exports would not be treated as. Any supplies made by a registered dealer as an export (both goods or services) or supply to an SEZ qualifies for Zero Rated Supplies in GST. In GST Zero rated supplies are the ones which are executed Under Section 16 of the IGST Act.

#Question# What are the benefits of gst?

#Answer#

Ariona Natt answered


GST brings uniformity in the taxation process and allows centralised registration. This gives a chance to small businesses to file their tax returns every quarter via .

#Question# How to become trp under gst?

#Answer#

Pushpaketu Nazareth answered


Who can act as a TRP? Candidates between the age of twenty-one (21) and thirty-five (35) years of age who are having a bachelor's degree from a recognized university in Law/Economics/Statistics/ Mathematics/Commerce/Management Business Administration can apply for qualifying as a TRP.

#Question# What is odn number in gst?

#Answer#

Ranbir Pandya answered


Official Document numberOfficial Document number (ODN), The official document number is used for documents such as invoices that are issued to customers, Vendor invoice posting and also presented to the tax authorities. 2487781 - GST IN: Invoice and ODN numbers are skipped while saving billing document in transaction VF01. Hello Gurus, In this peak period of GST Activity for 1st July GST Go Live, we have done all the necessary configurations for ODN as per SAP. How to Configure Official Document Numbering (ODN) for GST (Goods. Official Document Numbering(ODN) Configuration SD/MM/FI for GST - ERP SCM. Official Document Numbering(ODN) Configuration SD/MM/FI for GST.

#Question# How to file nil return in gst?

#Answer#

Tanuja Lanka answered


Procedure for Filing NIL GSTR-3B Return
  • Step 1: Login to GST Portal. .
  • Step 2: Select the month of filing. .
  • Step 2: Select the month of filing. .
  • Step 3: Select prepare GSTR-3B return. .
  • Step 4: Ensure that all fields are nil in the return. .
  • Step 5: Preview and Submit GSTR3B Return. .
  • Step 5: Accept the return summary.

#Question# What are the special benefits of gst?

#Answer#

Chinmayu Amble answered


Advantages of GST
  • GST eliminates the cascading effect of tax. .
  • Higher threshold for registration. .
  • Composition scheme for small businesses. .
  • Simple and easy online procedure. .
  • The number of compliances is lesser. .
  • Defined treatment for E-commerce operators. .
  • Improved efficiency of logistics. .
  • Unorganized sector is regulated under GST.

#Question# What is odn in gst?

#Answer#

Zuber Mahal answered


The official document number is used for documents such as invoices that are issued to customers, Vendor invoice posting and also presented to the tax authorities. 2487781 - GST IN: Invoice and ODN numbers are skipped while saving billing document in transaction VF01. ODN Using Number Ranges without Number Groups. Hello Gurus, In this peak period of GST Activity for 1st July GST Go Live, we have done all the necessary configurations for ODN as per SAP. How to Configure Official Document Numbering (ODN) for GST (Goods and Service Tax) India? Here are the step by step procedure with. Official Document Numbering(ODN) Configuration SD/MM/FI for GST Purpose The purpose of this page is to clarify the required settings for.

#Question# What is pmt 03 in gst?

#Answer#

Keya Prabhakar answered


PMT-03 is an order to re-credit cash/ITC amount on the rejection of a refund claimed. However, re-credit has not been given to assesses even after passing of order in Form GST PMT-03. Form- GST RFD-01 Online application for refund filed by the tax payer. the common portal in FORM GST PMT-04. GST PMT - 03 Order for re-credit of the amount to cash or credit ledger on rejection of refund claim - GST.

#Question# What is drc in gst?

#Answer#

Gian Virk answered


FORM GST DRC-03 is a digital intimation of payment made by the taxpayer voluntarily or made against show cause notice (SCN)/statement. Form DRC-03 is filed for making a voluntary payment of outstanding liabilities u/s 73 and 74 of the CGST Act. FORM GST DRC-03 and the proper officer shall issue an acknowledgement, accepting the payment made by the said person in FORM GST DRC. What is Form GST DRC 03? DRC 03 is a voluntary GST payment form that is taken up by the taxpayer or when the department approached him. Among plenty of forms in GST, DRC forms are forms which are related to demands and recovery proceedings. Filing an intimation of payment (GST FORM DRC-03) made voluntarily or made against the show cause notice (SCN) or statement.

#Question# What is scn reference number in gst?

#Answer#

Taarush Chana answered


Show cause notice is the first stage in any investigation in tax laws. How to Solve GST Notice By SCN Reference No. You have been served a SCN Reference No ZA020817000882Q 2017 08 08 12 27 28 819 against Application for New Registration GST REG.

#Question# What is scn number in gst?

#Answer#

Kahaan Munshi answered


SHOW CAUSE NOTICEShow cause notice is the first stage in any investigation in tax laws. How to reply for GST [SCN] show cause notice | SCN GST | GST Clarification process in. Solve Show Cause notice in GST. You have been served a SCN Reference No ZA020817000882Q 2017 08. A notice can be called by different names like show cause notice (SCN), scrutiny notice or the demand notices, depending upon each case- the. What is a Show cause notice (SCN) ? · Show cause notice is a formal communication to a person, asking to explain his side for the issue.

#Question# How to itc claim in gst?

#Answer#

Nityananda Contractor answered


ITC can be claimed by a person registered under GST only if he fulfills ALL the conditions as prescribed.
  • a. The dealer should be in possession of tax invoice.
  • b. The said goods/services have been received.
  • c. Returns have been filed.
  • d. The tax charged has been paid to the government by the supplier.
  • e. .
  • f.

#Question# What is gst?

#Answer#

Gian Virk answered


GST is known as the Goods and Services Tax. Goods and Services Tax is an indirect tax used in India on the supply of goods and services. Finally implemented on 1st July 2017 as Goods and Services Tax Act, the indirect taxation system thus went through a chain of amendments since its inception. Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. Goods and service tax (GST) will be applicable from 1st July 2017.

#Question# What is scn in gst?

#Answer#

Hem Sachdeva answered


Non-payment of GST liability (tax) or the short-payment of the tax with or without the intent to defraud: show cause notice (SCN) GST Refund is wrongly made with or without the intent to defraud: show cause notice (SCN) The Input tax credit is wrongly availed or utilised. How to reply for GST [SCN] show cause notice | SCN GST | GST Clarification process in hindi. Solve Show Cause notice in GST. what is a Show cause notice (SCN) notice? Why it is important. You have been served a SCN Reference No ZA020817000882Q 2017 08 08 12 27 28 819 against Application for New Registration GST REG. When can one issue Show Cause Notice (SCN) under GST? · Short levy or Non- levy · Short paid or Not paid · Erroneous refund · Wrong utilisation of input tax credit.

#Question# What is ahb chgs inc gst?

#Answer#

Shanaya Sawhney answered


Ahb chgs inc gst oct-mar2019-mir[protected] Im hdfc bank holder since i opened account there is not any deduction till ocyober 2019 after that i have credited my. Ahb chgs inc gst oct-mar2019-mir[protected] Im hdfc bank holder since i opened account there is not any deduction till march 2019 after that i. HDFC Bank levied AHB on my account with out intimation or giving proper information. Lenders get fresh tax notices for free of cost services offered to customers with minimum balance. I was confused about the meaning of the term - AMB CHRG INCL ST & CESS FOR.

#Question# What is irn in gst?

#Answer#

Ranbir Pandya answered


IRN or Invoice Reference Number is a unique code generated by IRP (Invoice Registration Portal). Invoice Reference Number (IRN) in Eway bill system. IRN is a unique code that validates an e-invoice and is generated. The IRN (also known as hash) is a unique number which is generated by the e- invoice system using a hash generation algorithm. IRN is calculated by Supplier GSTIN, Financial Year, Document Type (Invoice,. Each Invoice uploaded by the taxpayer will get the unique number called an Invoice Reference Number (IRN).

#Question# How to file gst?

#Answer#

Yajnadhar Thakur answered


A GST Return is a document that mentions all details related to GST invoices, payments, and receipts for a specific period. A taxpayer is liable to declare all

#Question# What is hsn code in gst?

#Answer#

Vihaan Bal answered


HSN stands for 'Harmonized System Nomenclature. What is HSN Code? HSN code stands for “Harmonized System of Nomenclature”. What is HSN Code Under GST. Search HSN Code, SAC Code and find GST Rates. HSN stands for “Harmonized System of Nomenclature”. What are HSN codes? HSN or HS (Harmonised Commodity Description and Coding System) is a multipurpose international product nomenclature developed by.

#Question# What is cbw in gst?

#Answer#

Rohan Chandra answered


3/1/2018-IGST dated 25 May, 2018 clarifying certain aspects regarding levy of IGST on goods supplied from the customs bonded warehouse (CBW). GST Suvidha Provider (GSP) Discussion Group. Goods and services tax, or more simply GST, was introduced by the Australian Government on 1st July 2000. But in GST information must be mentioned in invoice as per law. CUSTOMS BONDED WAREHOUSE (CBW) DEFINED A Customs Bonded. 2, Thank you for using GSTZen https://www.

#Question# What is unjust enrichment in gst?

#Answer#

Pahal Bal answered


The principle of unjust enrichment means that no one should be unjustly enriched at the expense of another. Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Ministry of Finance, Government of India. 'Unjust enrichment' means retention of a benefit by a person that is unjust or inequitable. Fate of “Unjust enrichment” principle under GST · Duty paid on exports; · Duty paid on inputs/input services used in the manufacture of exported. Know all about Refund Eligibility, Forms, Time limit, Interest Provisions under GST Law.