Search Results for: UCT

What are the Payments to be made in GST regime? In the GST regime, for any intra-state supply, taxes to be paid are the Central GST (CGST), going into the account of the Central Government) and the State/UT GST (SGST, going into the account of the concerned State Government). For any inter-state supply, tax to … Read more

Guide on Government’s GST Portal Login The government’s GST website portal enables taxpayers to conduct various GST related process online without personally visiting the tax offices. Knowing all the details about the GST portal will facilitate the taxpayers to file their GST returns in a hassle-free way without professional assistance. What is GST Portal? GST … Read more

GST Registration According to GST rules, it is mandatory for a business that has a turnover of above Rs.40 lakh to register as a normal taxable entity. This is referred to as the GST registration process. The turnover is Rs.10 lakh for businesses that are present in hill states and North-Eastern states. The GST registration … Read more

What is GST Number (GSTIN)? GSTIN or Goods and Services Tax Identification Number is your unique business identity with the GoI (Government of India) that contains 15 digits alpha-numeric PAN based code. Why is it important to verify GSTIN or GST Numbers? Verifying GST Number or GSTIN is very important as there are many cases … Read more

What is an HSN code HSN stands for “Harmonized system of Nomenclature” which was developed by the World Customs Organisation (WCO). WCO’s main objective for introducing HSN codes is to classify all the goods in a systematic manner. It clears the confusion and helps in domestic and international trade between the countries. More than 20,000 … Read more

GST is a consumption based tax/levy. It is based on the “Destination principle.” GST is applied on goods and services at the place where final/actual consumption happens. GST is collected on value-added goods and services at each stage of sale or purchase in the supply chain. GST paid on the procurement of goods and services can … Read more

Goods and Service Tax (GST) is paid by the consumers for the products or services. But the GST will be remitted to the government by the businesses who are providing you with those products and services. This GST will be included in the final price that is to be paid by the consumer and then is passed … Read more

GST can be calculated simply by multiplying the Taxable amount by GST rate. If CGST & SGST/UTGST is to be applied then CGST and SGST both amounts are half of the total GST amount. GST = Taxable Amount  x  GST Rate If you have the amount which is already including the GST then you can … Read more