Moderate

  1. Step 1: Visit the income tax department portal (https://www.incometax.gov.in/iec/foportal/) Step 2: On the homepage click “Register” on the top right-hand side of the page. Step 3: Enter PAN and click on ‘validate’. Select ‘Yes’ if you are filing as an individual and click on ‘Continue’. Step 4: Enter basic details such as first name, middle name, and last name. And select gender and residential status.  Step 5: To complete the registration process, fill in the following details:
  2. In economics, the notion of the supply of goods and services is self-explanatory; it is defined as the net value of production during a given period of time. On the other hand, supply is described under the GST as a taxable event, which could involve any of the following:
  3. Dustbins (or Garbage bins, Trash Cans, whatever you call them) are small plastic (or metal) containers that are used to store trash (or waste) on a temporary basis. They are often used in homes, offices, streets, parks etc. to collect the waste. In some places, littering is a serious offense and hence public waste containers are the only way to dispose small waste. Usually, it is a common practice to use separate bins for collecting wet or dry, recyclable or non-recyclable waste.
  4. When there are no transactions or obligations to be recorded and paid in that return for that specific tax period, Form GSTR-3B can be filed as a nil return. If you have not received any goods or services, have not made any outward supplies, and have no tax due, you may file a nil return.
  5. The Composition Levy is a program under the Goods and Services Tax (GST) that aims to lessen the burden of compliance for small enterprises. Instead of completing the standard GST compliance procedure, qualified taxpayers may opt to pay a predetermined percentage of their turnover as tax under the Composition Scheme.
  6. The Harmonised System of Nomenclature (HSN) and Service Accounting Codes (SAC) are used to classify all commodities and services that must be utilized for India GST, which will help lower barriers to international trade. These SAC and HSN codes have also been utilized in record-keeping and invoices so that the supplied goods and services are readily identifiable.
  7. GSTR-2A is an auto-generated form that gives taxpayers information about inbound supplies they have received. It is produced using the data that suppliers provide on their GSTR-1 forms. On the GST portal, taxpayers can check GSTR-2A and confirm the specifics of purchases they made from registered vendors. To guarantee accuracy and completeness, firms must reconcile the data in GSTR-2A with their purchase records.