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Showing posts with the label Types of GST Registration

All about GST Compliance Calendar

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  ST  due dates are very important for every taxpayer not only for sake of filing GST returns and prescribed forms under the GST law timely but also to avoid incurring any interest or late fee. It is also important for businesses and entrepreneurs to stay compliant with various compliance throughout the year. Every month is significant, as far as GST compliance is concerned. There are various tax and statutory compliance that includes the due dates relating to GST return filing that fall in the month of August 2021. Regular comp l iances and procedures are required to be followed by those coming under its ambit. In all those, return related compliance is one of the most important things in compliance under the GST. The GST registered dealer has to file a statement of the transactions of the business i.e. returns on a monthly/quarterly/annual basis. Various due dates for the GST Returns in the Month of August 2021 Cessation Once you follow all the GST compliance checklists, you will be

Types of GST Registration

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  GST Registration is a process for applying for a unique GSTIN i.e. GST Identification Number on the GST Portal. The taxpayer requires GSTIN to collect and pay GST on the outward supplies i.e. sales and claim GST input tax credit on the inward supplies i.e. purchases.  As per the GST rules, it is compulsory for a business/supplier that has a turnover of above Rs.40 lakhs (Rs 10 lakhs for special category states present in hill states and North-Eastern states) to register as a normal taxable entity. Also, there are various types of GST Registrations described under the GST Act. Types of GST Registration depends on the nature of the business. Undergoing the registration procedure is difficult without recognising its different forms. That’s why it is necessary that we should be aware of the different types of GST Registration & acquire a better idea regarding the types before selecting the suitable one. Types of GST Registration Normal Taxpayer As per the GST rules, when the Thres