Q 1. What is the purpose of returns? Ans. a) Mode for transfer of information to tax administration; Compliance verification program of tax administration; Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period; Providing necessary inputs for taking policy decision; Management of audit

What are the main features of GST payment process? Ans. The payment processes under proposed GST regime will have the following features: Electronically generated challan from GSTN Common Portal in all modes of payment and no use of manually prepared challan; Facilitation for the taxpayer by providing hassle free, anytime, anywhere mode of payment of

Q 1. Who is the person responsible to make assessment of taxes payable under the Act? Ans. Every person registered under the Act shall himself assess the tax payable by him for a tax period and after such assessment he shall file the return required under section 34. Q 2. Is there any provision in

A bill of supply referred to in clause (c) of sub-section (3) of section 31 shall be issued by the supplier containing the following details:- (a) name, address and GSTIN of the supplier; (b) a consecutive serial number not exceeding sixteen characters, in one or more multiple series, containing alphabets or numerals or special characters

Electronic  Liability  Register.— (1)  The  electronic  liability  register  specified under sub-section (7) of section 49 shall be maintained in FORM GST PMT-01 for each person liable to pay tax, interest, penalty, late fee or any other amount on the common portal and all amounts payable by him shall be debited to the said register. (2)

Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition

Documents required for registering to GST Individuals/Partners Copy of Aadhar (If the partner is outside India, copy of passport must be submitted) Copy of PAN card Passport size photo Mobile number/e-mail ID/Digital signature Partnership Firm/Society/Company Partnership deed/bylaw memorandum and article of association. Certificate of registration PAN card copy Mobile number/e-mail ID/ Digital signature, either in

Every registered taxable person who crosses the threshold limit for payment of taxes needs to file returns. A supplier needs to be registered when the aggregate turnover crosses Rs. Twenty lacs. So s/he will be required to file returns when he crosses the threshold limit of Rs. Twenty lacs. There are some other class of

Register Now Registration procedures An application has to be submitted online through the common portal (GSTN) within 30 days from the date when liability to register arose. The application shall be submitted through the website, www.gst.gov.in. The Casual and Non-Resident taxable persons need to apply at least five days prior to the commencement of the

Persons listed under the following categories are required to take registration under GST regime. A person whose aggregate turnover exceeds Rs.20 lakh (Rs.10 lakh in case of special category states) in a financial year. Every person who is registered under an earlier law shall take registration under GST. Where a business which is registered has