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Category: GST

GST Nomenclature and Full-forms of its Abbreviations

The compliances for Goods and Services Tax (GST) are filled with abbreviations and terms that make up for its nomenclature. Usually these terms are used without their explanations. Thus, to completely comply with GST, it becomes important to have adequate knowledge of its nomenclature. Full-forms The most commonly used abbreviations are given below with their…

Important GST Terms

What is GST? GST is Goods and services tax introduced by the government of India to subsume all the indirect taxes. Introduction of GST is the biggest tax reform as the name advise GST includes both Goods and services under one roof. GST was bought in by the government with a motive of “One Nation…

How to Calculate GST?

For any taxpayer calculating GST payable for the GST Return filing is not less than a rocket science. The taxpayer has to take everything into consideration while calculating GST such as inter and intrastate supplies, exempted supplies and reverse charge including eligibility of the ITC. Because if a taxpayer pay-off less amount of GST payable…