Pramit Pratim Ghosh

Businesses will need to file a much simplified GSTR 3B returns, by declaring the summary of their inward and outward supplies for the months of July and August.

While migrating to a GST registration or while going for a new registration, most businesses would have received the 15 digit provisional ID or GSTIN (Goods and Services Tax Identification Number)

A GST practitioner or GSTP is a person approved by the Central and State Governments to perform any or all of the following activities, on behalf of a taxable person.

As per the guidelines set by the GST Council, a registered taxable person is to follow a standard return filing process, involving 3 forms – outward supplies details in GSTR 1 form.

GST payment is one of the major requisites for a business to stay compliant. As per the guidelines, every registered regular taxpayer has to furnish the GST returns on a monthly basis.

As per the guidelines, every registered regular taxpayer has to furnish the GST returns on a monthly basis, and pay the requisite tax by the due date for payment of GST – 20th of every month.

The indirect taxation regime in India has undergone many transformations over the past 5 to 6 decades. Introduction of MODVAT in 1986, fungibility of credit between Excise and Service Tax, and VAT.

Under GST, all supplies which are bundled with two or more supplies of goods or services or combination of goods and services are classified as - Mixed Supply & Composite Supply.

HSN Codes and SAC Codes are standards when it comes to classifying goods and services. In GST, the importance of the same as increased, in order to be clear about the taxes which are levied.

One of the most crucial areas of concern as businesses transition into the GST regime - are the GST transition rules and GST transitional provisions.

One of the key aspects of the GST era is that most of the indirect taxes - for which returns had to be filed separately for various businesses - have been subsumed.

Ever since GST has been discussed across the country, input tax credit has been spoken about in the same breath. In essence ITC is the heart and soul of GST.