GST Advocate

What is the difference between regular and composition scheme registration?

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What is the difference between regular and composition scheme registration? Difference Between Regular and Composition Scheme Registration in GST The Regular Scheme and the Composition Scheme under GST are two frameworks designed to cater to different types of taxpayers based on their nature of business and compliance needs. Below is a detailed comparison: Aspect Regular […]

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What are the conditions for availing the composition scheme?

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What are the conditions for availing the composition scheme? Conditions for Availing the Composition Scheme in GST The Composition Scheme under GST simplifies compliance for small businesses by allowing them to pay tax at a fixed rate on their turnover. However, businesses must meet certain conditions to be eligible. Below are the details: Eligibility and

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Is GST registration required for e-commerce operators?

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Is GST registration required for e-commerce operators? Conditions for Availing the Composition Scheme under GST The Composition Scheme under India’s Goods and Services Tax (GST) regime is designed to make tax compliance simpler and more affordable for small businesses with a lower turnover. GST registration offers a flat tax rate and simplifies paperwork, but businesses

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What are the penalties for not registering under GST?

Leave a Comment / Register Under GST, Goods Service Tax, penalties Under GST /

What are the penalties for not registering under GST? Penalties for Not Registering Under GST Under the Goods and Services Tax (GST) regime, businesses are required to register for GST if their aggregate turnover exceeds a prescribed threshold limit. Failure to register for GST when required can result in various penalties, interest, and legal consequences.

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What are the different types of GST returns?

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What are the different types of GST returns? Types of GST Returns in India Under the Goods and Services Tax (GST) regime, various types of returns need to be filed by registered taxpayers based on their business activities. These returns are necessary for tax compliance and reporting. The returns must be filed through the GSTN

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What is GSTR-3B, and how is it different from GSTR-1?

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What is GSTR-3B, and how is it different from GSTR-1? GSTR-3B vs GSTR-1: Key Differences GSTR-3B and GSTR-1 are two of the most crucial returns in the Goods and Services Tax (GST) system in India. Both serve different purposes and are filed at different intervals by registered taxpayers. Let’s break down the key differences between

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What is the penalty for late filing of GST returns?

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What is the penalty for late filing of GST returns? Penalty for Late Filing of GST Returns Under the Goods and Services Tax (GST) regime in India, failure to file GST returns by the due date attracts penalties. The penalties vary based on the type of return, the duration of delay, and whether the taxpayer

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What is the reconciliation process in GST?

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What is the reconciliation process in GST? The reconciliation process in the context of Goods and Services Tax (GST) refers to the act of ensuring that all the tax-related records, such as sales, purchases, output tax, input tax credit (ITC), and GST returns, are accurate and consistent. This process is crucial for ensuring compliance with

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