FinTax24

Glossary

Terms Starting with "G"

7 terms found

Gratuity

A lump-sum retirement benefit paid by the employer to an employee who completes at least 5 years of continuous service under the Payment of Gratuity…

HR, Payroll & Labour Law

GST

Goods and Services Tax — an indirect, destination-based tax levied on the supply of goods and services across India, replacing multiple central and…

GST & Indirect Tax

GSTIN

GSTIN is the 15 digit number that identifies you for GST. Your PAN and state code sit in it. You must quote it on the invoice and on every bill.

GST & Indirect Tax

GSTIN vs CIN

A GSTIN has 15 characters and is your GST tax ID for each state. A CIN has 21 characters and is your company ID from the MCA. You quote both on your invoice.

GST & Indirect Tax

GSTN

GSTN is the firm that runs the GST portal and the IT system behind it. It is a not for profit firm set up by the government. Your tax files all run on it.

GST & Indirect Tax

GSTR-1

GSTR-1 is the monthly GST return for your sales. You list each sale and the tax on it. Monthly filers must file it by the 11th of the next month.

GST & Indirect Tax

GSTR-3B

GSTR-3B is the monthly return a GST dealer files on the portal. It shows your sales, your ITC, and the tax you must pay for the month. You file it on time.

GST & Indirect Tax