2352 views GST – Frequently asked questions
What is GST?
0 views GST stands for Goods and Services Tax, which is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. It is a type of indirect tax that has replaced many indirect taxes in countries like India.GST simplifies the taxation process, reduces the burden of multiple taxes, and promotes transparency in the tax system. By eliminating the cascading effect and creating a unified market, GST plays a crucial role in the economic structure of a country.
What is the HSN Code?
0 views The HSN Code (Harmonized System of Nomenclature Code) is an internationally standardized system of names and numbers used to classify traded products. It was developed by the World Customs Organization (WCO) and is used globally to ensure uniform classification of goods for customs purposes, making international trade more systematic and standardized.
Is there any customer support number, that we can call for queries?
0 views Yes, we are dedicated to serving the best. You can call on 098-98 66 55 36 (Mon to Sat: 9:00 AM – 7:00 PM), Also you can send WhatsApp message on this number. You can visit our support page for more contact details.
What is GSTR-1?
0 views GSTR-1 is a monthly or quarterly return that needs to be filed by every registered taxpayer under the Goods and Services Tax (GST) in India. It contains details of all outward supplies of goods and services (i.e., sales) made by the taxpayer during the reporting period. Filing GSTR-1 is mandatory for all businesses registered under GST, except for those who have opted for the Composition Scheme.
What is IFF?
0 views IFF stands for Invoice Furnishing Facility. It is an optional facility provided under the GST (Goods and Services Tax) regime in India for small taxpayers who have opted for the Quarterly Return Monthly Payment (QRMP) scheme. The IFF allows these taxpayers to upload and furnish details of their Business-to-Business (B2B) sales invoices every month, even though they file their GSTR-1 return on a quarterly basis.
How many company can I manage under Munim GST?
0 views Munim GST allows you to handle an infinite number of companies.
Can the registered person under compositionscheme claim input tax credit?
0 views No, a registered person under the composition scheme is not eligible to claim input tax credit.
