As if you are supplying, and in series of activities your business crosses the border line of aggregate turnover of Rs.10 Lakhs/20 Lakhs, then you will have to apply for registration within 30 days, you will have to issue the tax invoice on next taxable supply, you might be getting taxable in word supply then you will have to think for input tax credit, then you will have to pay the tax and to file returns post the end of tax period (month/ quarter, as per the case ) within due date.
some of abbreviations used in this gst blog
abbreviation full form |
ARN Application Reference Number |
B2B Business to Business ( registered person to registered person) |
B2C Business to customer ( registered person to consumer) |
BRN Bank Reference Number ( Transaction Number ) |
CA Chartered Accountant |
CBEC Central board of excise and customs ( now, renamed as CBIC = Central board of Indirect Taxes and Customs) |
CG/SG Central government / state government |
CMA Cost and Management Accountant |
CT Central Tax |
ECO Electronic Commerce Operator |
EBN E-way Bill Number |
EVC Electronic Verification Code |
GSTIN Goods and Service Tax Identification Number |
GSTN Goods and Service Tax Network |
GSTR goods and service Tax Return |
HSN Harmonized System of Nomenclature |
IGST Integrated Goods and Service Tax |
ISD Input Service Distributor |
IT Integrated Tax |
ITC Input Tax Credit |
ITR Integrated Tax Rate |
PO Proper Officer |
RCM Reverse Charge Mechanism |
RP Registered Person |
R/W Read With |
SAC Service Accounting Code |
SEZ Special Economic Zone |
TCS Tax collected at Source |
TDS Tax Deducted at Source |
TOS Time of Supply |
UIN Unique Identification Number |
URS Unregistered Supplier |
w.r.t. with respect to |
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