Tag: GST

GST Software
December 19th, 2018 in GST

Cross-Utilization of Credits and Fund Transfer

The Goods and Services Tax (GST) was introduced as a unification of indirect taxes. It was mainly divided into Central (CGST), State (SGST), and Integrated (IGST) GST. CGST and SGST mainly apply to supplies within a state, whereas IGST is applied on interstate and international supplies. CGST is a representation of tax levied by the…

Updated on February 18th, 2019 in 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…

Updated on March 20th, 2019 in GST

Booked an under-construction house? Read on to find out if GST will help you pinch pennies or pocket them!

Touted as the second largest employer in the country (after agriculture), the real estate sector accounts for nearly five percent of India’s GDP (gross domestic product), projecting a potential growth of 30 percent over the next decade. Supported by a thriving corporate environment, an increasing demand for office and commercial space, a burgeoning middle-class keen…

Updated on February 16th, 2019 in GST

GST Unique Identification Number (UIN) – Facts You Should Know

Though, the GST universally applies to all business entities in India, however there are certain bodies and individuals, which enjoy exemption from complying with the Goods and Services Tax. GST Unique Identification Number (UIN) is a special category of GST registration, given to foreign diplomatic missions and agencies, which are not liable to pay any…