What information is required to create any GST INVOICES Under Service Provider Company? (a) First of all, the service provider should have the registered address of the company with the PIN code of its region (b) Must have a PAN number (c) He should have the company’s register number, which […]
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GST – QRMP Scheme – Frequently Asked Questions (FAQs)Part 2
Can I avail the QRMP scheme at any point of time during a financial year? According to the Indian government, we cannot avail of quarterly Return monthly payments in any financial year. For this, the government has given a date for everyone, according to which we can take advantage of […]
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What is QRMP Scheme & What are the benefits?
QRMP Scheme The full name of this scheme is Quarterly Return Monthly Payment(QRMP), in which we have to make monthly payment of taxes and quarterly payment of returns. Under this scheme, any company has to follow very few compliances Due to which time is also reduced and all the small […]
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GST – QRMP Scheme – Frequently Asked Questions (FAQs) Part 1
What is Quarterly Returns with Monthly Payment (QRMP) Scheme? Quarterly Return Monthly Payments have to follow very few compliances in which small businesses with a turnover of less than 50 million can benefit from this scheme by opting for it. These are very good schemes brought by the Indian Government, […]
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How Many Compliance Any Company Has To Complete After Starting the Business
COMPLIANCE:- Compliance means that in order to do any work properly, we have to follow all the rules and laws made by them so as not to bear any loss beyond. While starting any business in India, all the rules made by the Indian Government should be followed. Everything a […]
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GST FULL DETAILS AND ITS FILING DATES
TAX PAYING DIVIDED INTO TWO CATEGORY ‘X’ AND ‘Y’ X CATEGORY:- Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union Territories of Daman, Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands, and Lakshadweep. Y CATEGORY:-Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar […]
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Important Dates
TDS is deducted from the income of all persons in India as per the rule of the Indian Government. But whoever deducts TDS has to submit it to the government. Which we do every three months DUE DATE FOR FILLING TDS RETUN FINANCIAL YEAR 2020-2021 OUARTER QUARTER PERIOD QUARTER ENDING […]
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USEFUL ACCOUNTING RESOURCES FOR MONTHLY AND YEARLY COMPLIANCES
TDS (Tax Deducted At Source) These are the rules made by the government, in which the government is monitored by any of your income and as soon as you get any profit which falls under the rule of tax deducted At source, then the government is first paid tax. The […]
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INCOME TAX RATE SLAB FOR PRIVATE LIMITED COMPANIES
Income Tax Rate Private Limited Companies FY 2020-21 There are two types of investments in India company, one is of Normal India, which we called as Domestic Company and another forging company invests in it. All the companies have to file their returns on 30 September whether it is domestic […]
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INCOME TAX RATE SLABE FOR INDIVIDUALS IN INDIA
Slab Rate Financial Year 2020-21 Direct tax to be paid on the income of any person is called income tax. In India, the tax levied on all persons is levied according to age, in which all are category wise divided. Individual (Resident or Resident but not Ordinarily Resident or non-resident), […]
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STATEMENT OF PROFIT AND LOSS ACCOUNT FOR PRIVATE LIMITED COMPANY
What is Profit And Loss Account? To know about the profit of the business, we have to look at the profit and loss account of that company, then it tells us that my company has earned profit or loss in that financial year. So for this, we have to create […]
Continue readingGST Update – How to file returns in QRMP scheme?
What is QRMP scheme? QRMP’s full form is “Quarterly Returns with Monthly Payment”. As this name is indicating it’s a scheme newly introduced under GST filing, where taxpayers can file their GSTR 1 and GSTR 3B both returns quarterly instead of monthly. Who can opt for QRMP scheme? All taxpayers […]
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Company Balance Sheets Details Step by Step
What is company balance Sheets? In The Balance Sheets, all the assets and all the liabilities of any company are fully accounted for. This shows us how much loan we have taken. How many debaters do we have? How many are Creditors? How many shareholders are holding our shares? What […]
Continue readingAmazon GST Issues – You are shipping certain item(s) to a state for which you have not entered GSTIN in your business account
Amazon GST Issues You are shipping certain item(s) to a state for which you have not entered GSTIN in your business account. Please note that for such item(s) you will not get GST Invoice. Your business account admin(s) can go to Manage Your GST page and add GSTIN. Solution Form […]
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Starting in GSTR-3B
When we open (3B), a report opens in front of us, in which we file all the details of that, only then we can file our returns, in which we are asked about our turnover, which we can tick by the entire column. After that, our Return Dashboard opens. *First […]
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Amended Invoices in GSTR 1
9A – Amended B2B Invoices If we have made any mistake in this (B2B ), then we can change it by going to 9(A) business to business return file. In this, we Can change the cut-off to less than 2.5 lakh. 6A – Exports Invoices These tables are part of […]
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What is 4A, 4B, 4C, 6B, 6C – B2B Invoices, Under GSTR-1 All Details?
In this, we add our output supply which is sold to a registered person and it is an output supply. Whichever business 1.5 More than ten million transactions take place, in which they file monthly returns. And of any business Transactions of less than 1.5 crores can file it both […]
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What is an input tax credit?
The input tax credit is the first input which means that when we bring any raw material in our business, then it is called our input of business. The input of three types of any business is 1 Raw Material 2 Service 3 Capital Goods, these are what we call […]
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What are GST rate slabs?
GST means goods and services tax .there are 7 types of tax slab rate 0 % 0.25% 3% 5% 12% 18% 28% In India there are 7 tax slabs, so how will this tax slab rate be charged, how much will be charged, and which will not be taxed on […]
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How would you differentiate between CGST, SGST, and IGST?
Meanning SGST:- State goods and service tax When we sell goods in our own state, it is called SGSTCGST:- In this, when we supply the goods at one place like we are in Delhi, we are selling the goods inside it, then whatever tax will be there will be tax […]
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