The proper officer may, either on his motion or an application filed, in case of death of such registered person, by his legal heirs, cancel the registration. Where the business has been: discontinued, transferred fully for any reason death of the proprietor, amalgamated with other legal entity, demerged or otherwise disposed of or there...
Continue readingWhat is GST PMT 09?
According to a notification issued by CBIC via notification no. 31/2019 CT on 28th June 2019, PMT 09 is the prescribed challan for relocating the falsely or erroneously paid ITC. For example, if one has paid CGST instead of SGST, they can rectify it by using this challan which is known as GST PMT...
Continue readingWhat is GSTR 10 & How to file GSTR 10?
About: GSTR-10 is a final return to be filed by all the taxpayers whose GST Registration is either surrendered by the taxpayer or gets canceled by the authorities. This is also called the final return, which is different from the annual return. This return is final return GSTR-10 and for the annual return, you...
Continue readingWhat is GSTR 5 & how to file GSTR 5?
About: In GSTR-5 it contains all the business details including the details of outward supplies (sales) and inward supplies(purchases) made by the registered non-resident. It is a document that has to be filed by every person who is registered non-resident for the period in which he is carrying the business transactions in India. The...
Continue readingWhat is CMP-08 in GST?
About: Form GST CMP-08 is a statement that declares the details of the self-assessed tax payable for a given quarter by taxpayers registered as composition dealers under the GST composition scheme. In addition, GST CMP-08, a composition dealer, must be filing an annual return in form GSTR-4. The purpose of the scheme was introduced...
Continue readingWhat is GSTR-11?
About: From GSTR-11 it must be furnished by the person who has a Unique Identity Number(UIN) to get the refund of GST paid on goods and services purchased by them in India. What is the purpose of issuing a Unique Identity Number(UIN)? To refund the amount of GST collected from the bodies/person, UIN is...
Continue readingE-invoice
What is e-invoice in GST? ‘E-invoicing’ is a system in which Business to Business(B2B) invoices are authenticated electronically by GSTN for further use on the common GST portal. A unique Invoice Number is generated for each invoice by IRP. Along with invoice numbers, each invoice is digitally signed and added with QR code. This process...
Continue readingWhat is GSTR 7 & How to file GSTR 7?
GSTR-7 – Return for a person required to deduct tax at source Whenever taxable goods or services or both are supplied to a Central/ State Government’s Department/ establishment or, local authority, or Governmental agencies, the recipient is required to deduct tax at source and file a return under Goods and services tax Act. Monthly...
Continue readingWhat is GSTR 6 & How to file GSTR 6?
GSTR-6 – Return for Input Service Distributor Input service distributor means an office of the supplier of goods or services or both which receives tax invoices towards the receipt of input services and issues a prescribed document to distribute the credit of central tax, State tax, integrated tax or Union territory tax paid on...
Continue readingGST REGISTRATION
About Every supplier shall be liable to be registered under this Act in the State or UT or any other special States, from where he makes a taxable supply of goods or services or both- If his aggregate turnover in a financial year exceeds 40 lakh rupees and 20 lakhs for special states. Where...
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