In our previous article, we discussed the MSME registration process in India. As it was an integral part of MSMEs in general, we had to talk about the benefits of MSME registration, that you can enjoy as a small business owner. There are many legalities surrounding MSMEs in India, however, we’ll discuss the benefits and…
The demand for revision in the definition of MSME has been pending for a long. The low threshold in MSME definition has created a fear among MSMEs of graduating out of the benefits and hence killing the urge to grow. The new MSME registration process and definition have been simplified, clearing away any previous fears…
One of the biggest and positive changes that took place in 2020 is E-invoicing under GST. The main intention or reason behind introducing the concept of e-invoicing was to restrict and reduce fake invoicing that had been happening and was a great concern of the government. The government has introduced e-invoicing in a proper phased…
Look, if you’ve ever stared at a GSTR-1 form at 11 PM wondering whether to classify that export invoice as “zero-rated” or “exempt,” you’re not alone. These four terms—zero-rated, nil-rated, exempt, and non-GST supplies—sound like variations of the same thing, but misclassifying them triggers notices, blocks ITC refunds, and creates compliance nightmares that’ll haunt…
Being GST compliant isn’t a one-time checkbox — it’s a system you build and maintain every single month. And honestly, most small businesses don’t fail at compliance because they’re negligent. They fail because the rules shift faster than anyone can track, and no one tells you about the friction until you’re already stuck. This guide…
GSTR 3b is the basic return of GST. Every registered person except the composition dealer, TDS, and TCS deductor is required to file it. It is a monthly return and the payment of tax in GST is linked with GSTR 3b. It means we make the payment of tax under GST while filing GSTR 3b.…
GST State Codes List in India The GST taxpayer gets the GST number after registering with GST. The first 2 digits in the registration number are the state code. The GST State Codes are used to identify the state of the GST registered entity. These codes are also useful while raising invoices in GST and…
Here is some good news for tax-paying businesses in India. 28th GST council meet held on 21st of July 2018 has introduced a simple GST return filing system for the taxpayers. The government has introduced Sahaj and Sugam forms for filing GST returns. In this article, we’ve explained how these new forms will simplify…
The GST registration process is a long one that involves business-related documents. For registration, you need to submit different types of documents according to the type of company registration. Find out the documents required for GST registration for Sole Proprietorship or Individual, Partnership or LLP, Private Limited or Public limited or One Person Company,…
Ever since the GST law was implemented on 1st July 2017, business owners repeatedly faced difficulties while filing GST returns. GST was a huge change where all the indirect taxes were merged into one single law. So, initial hiccups were expected. So keeping in mind all the problems businesses were facing, the government keeps extending…