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 Form DIR-6?
In DIR–6 is the details to be filed about the changes made in any information that DIN/DPIN contains. For Example Changes in the Director’s Name, Address, Email-ID, Phone number, Appearance, Nationality, Educational Qualification, Gender, etc. What is DIN? Director Identification Number is mandatory for all the directors of a company whether existing or new. It...
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 readingStartup India Scheme
Start-Up is an Entrepreneurial Venture or a new Business in the form of a Company, a Partnership, Proprietorship, etc. generally newly created with innovative concepts and too high growth potential. The Startups are growing in our country day by day, there are so many Indian startups who hit big even the Government of India...
Continue readingVenture Capital Finance
What does Venture Capital mean? Venture capital is finance that is provided by investors to start-ups, early-stage and small companies that have the potential to reshape markets and grow very fast. The money deployed by a Venture Capital firm usually comes from well-off investors, investment banks, institutional investors, corporations, or wealthy individuals looking to...
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 readingWhat is TAN number & How to register for it?
Tax Deduction and Collection Account Number Tax Deduction and Collection Account Number is a 10 digit- alphanumeric-number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, the number is required to be mentioned on TDS returns under Section 203A of Income...
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