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GST Guidelines

GST stands for goods and services tax
GST is an indirect tax calculated on the sale of goods and services.

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GST Guidelines

GST GUIDELINES

GST stands for goods and services tax

GST is an indirect tax calculated on the sale of goods and services.

In our India GST is collected as per 5 slabs

  • 0%
  • 5%
  • 12%
  • 18%
  • 28%

On gold it is calculated 3%.

we mean Sanjay tax associates. provides you all the GST services.

Like,

  • GST registration
  • GST return filing
  • GST refund
  • ITC claim

you might be thinking ... what these all means.

So here is the explanation.

What is GST Registration?

Registered taxable person will be allotted for each state having business places a PAN-based 15-digit GST Identification Number (GSTIN).

GSTR 1

For Business To Business Invoices.

  • customers GSTIN
  • Type of Invoice
  • Place of Supply
  • Invoice Number
  • Invoice Date Taxable Value
  • GST Rate
  • Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable

For Business to customer invoices...

  • Invoice number
  • Invoice date
  • Total value of the invoice
  • Taxable value
  • GST rate applicable
  • Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable
  • Place of Supply

For Export bill issued.

  • Customers GSTIN
  • Type of Invoice
  • Invoice Number
  • Invoice Date
  • Shipping Bill Number
  • Shipping Bill Date
  • Port Code Taxable Value
  • GST Rate Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable

HSN wise summary of all goods sold during the month.

  • HSN Code
  • Description
  • UQC
  • Total Quantity
  • Total value
  • Total taxable value
  • Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable
  • Invoice number
  • Invoice date Invoice value
  • Place of Supply
  • Applicability of reverse charge
  • Invoice type
  • Taxable value
  • GST rate
  • Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable
  • Eligibility for Input Tax Credit
  • Amount of IGST Input Tax Credit Claimed
  • Amount of SGST Input Tax Credit Claimed
  • Amount of CGST Input Tax Credit Claimed
  • Amount of GST Cess Input Tax Credit Claimed
  • Is supply for a SEZ
  • Suppliers GSTIN
  • Bill of Entry number
  • Bill of Entry date
  • Bill of Entry value
  • Port Code
  • Taxable value
  • GST rate
  • Amount of IGST applicable
  • Amount of CGST applicable
  • Amount of SGST applicable
  • Amount of GST cess applicable
  • Eligibility for Input Tax Credit
  • Amount of IGST Input Tax Credit Claimed
  • Amount of SGST Input Tax Credit Claimed
  • Amount of CGST Input Tax Credit Claimed
  • Amount of GST Cess Input Tax Credit Claimed
  • GSTR-1 Return - Due on 10th of Every Month
  • GSTR-2 Return - Due on 15th of Every Month
  • GSTR-3 Return - Due on 20th of Every Month
  • GSTR-4 Return - Quarterly Return for Composition Suppliers Due on 18th April, 18th July, 18th October, 18th January.
  • GSTR-5 Return - Monthly Return for Non-Resident Taxable Persons
  • GSTR-6 Return - Monthly Return for Input Service Distributors
  • GSTR-7 Return - Monthly Return for Tax Deductor
  • GSTR-8 Return - Monthly Return for E-Commerce Operator
  • GSTR-9 Return - Annual GST Return
  • GSTR-10 Return - Final GST Return
  • GSTR-11 Return - GST Return for UIN Holders
Advantages of GST
  • GSTR-1 Return - Due on 10th of Every Month
  • GSTR-2 Return - Due on 15th of Every Month
  • GSTR-3 Return - Due on 20th of Every Month
  • GSTR-4 Return - Quarterly Return for Composition Suppliers Due on 18th April, 18th July, 18th October, 18th January.
  • GSTR-5 Return - Monthly Return for Non-Resident Taxable Persons
  • GSTR-6 Return - Monthly Return for Input Service Distributors
  • GSTR-7 Return - Monthly Return for Tax Deductor
  • GSTR-8 Return - Monthly Return for E-Commerce Operator
  • GSTR-9 Return - Annual GST Return
  • GSTR-10 Return - Final GST Return
  • GSTR-11 Return - GST Return for UIN Holders
Document required for ITC claim.
  • Invoice issued by the supplier
  • Invoice issued similar to Bill of Supply, in cases where the total amount is less than Rs. 200 or reverse charge mechanism is applicable
  • Debit note issued by the supplier (if any)
  • Bill of Entry or similar documents issued by the Customs Department
  • Bill of Supply issued by the supplier Document issued by ISD, could be an invoice or credit note

Government says any company or firm with turnover 20 Lakhs or more is compulsory to pay these taxes.

I personally suggest you too for paying these kinds of taxes, to avoid any legal notices from legal authority.

For best results... get your returns filed as soon as possible...!!