GST CERTIFICATION PROGRAMME

GST Introduction

GST (Goods and Services Tax) is a comprehensive indirect tax system that was implemented in India on July 1, 2017. It replaced multiple taxes like VAT, CST, excise duty, service tax, and other indirect taxes. GST is a destination-based tax that is levied on the supply of goods and services. The tax is collected at each stage of the supply chain and is ultimately borne by the end consumer.

GST Return Filing

Under the GST regime, businesses are required to file various types of GST returns depending on their turnover and type of registration. Here’s a brief overview of the five main types of GST returns:

1. GSTR-1: This return is for outward supplies made by registered businesses.

2. GSTR-3B: This return is a monthly summary return that includes details of all taxable supplies made, input tax credit claimed, and tax liability for the period. It is a self-assessment return that needs to be filed by the 20th of the following month.

3. CMP-08: This return is for businesses registered under the composition scheme.

4. GSTR-2B: This return is an auto-generated statement that shows the input tax credit available to businesses based on the purchases made by them during the period.

5. GSTR-2A: This return is an auto-generated statement that shows the details of all purchases made by businesses during the period.

E-Way Bill Creation

1. Log in to the GST portal using your GSTIN and password.
2. Go to the ‘E-way Bill’ section and click on ‘Generate new’ under ‘Generate e-way bill’.
3. Enter the details of the consignment, such as the invoice number, date, and value, along with the details of the transporter.
4. Select the mode of transportation and the distance to be covered, and enter the vehicle number and details.
5. Verify the details entered and click on ‘Generate e-way bill’.
6. Once the e-way bill is generated, a unique EBN (E-way Bill Number) will be assigned, and the document can be printed or downloaded as a PDF.

GST Verification

GST verification is the process of verifying the GST registration details of a taxpayer on the GST portal. This is an important step in the GST compliance process as it helps ensure that all GST registrations are valid and up-to-date.

GST Ledger Working

GST Payment Ledger: The GST payment ledger shows the amount of GST paid by the taxpayer for a particular period.
GST Liability Ledger: The GST liability ledger shows the amount of GST payable by the taxpayer for a particular period.
GST Input Credit Ledger: The GST input credit ledger shows the amount of GST input credit available to the taxpayer for a particular period.
GST Output Credit Ledger: The GST output credit ledger shows the amount of GST output credit available to the taxpayer for a particular period.