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Every dealer registered under GST has to file monthly and quarterly GST Returns. These returns are required to collect information from registered dealers and pass on the Input Tax Credit. In this article, we shall be discussing the comparison between GSTR-1 and GSTR-3B returns in detail. What is GSTR-1 and GSTR-3B? GSTR-1 is a monthly or […]
Goods and services tax is a single, consumption-based tax applicable on sale, manufacturing, and trade of goods and services. A business exceeding the turnover of Rs 20 lakh in a financial year (Rs 10 lakh for North Eastern and hill states) is eligible to get GST registration. Many businesses opt for voluntary GST registration in India […]
GST Credit is commonly known as Input Tax Credit (ITC), is the credit of ‘input tax’ paid by a person for the use of goods or services or both in the course or furtherance of business. ‘Input tax’ here means: Central GST, State GST, Integrated GST, Union Territory GST charged on supply of goods and/or services but […]