We would be discussing about gst invoice format and difference between new gst tax and earlier tax format as a part of basics of gst series by the buzz stand

GST Invoice Format and Rules

With the arrival of GST tax in India, invoice would have to be issued with new norms laid out by the government. Don’t worry The Buzz Stand is here to help you out on basics of GST. We would start with discussing about GST invoice format and then talk about differences between this and earlier invoice formats. Then, taking this post into further detail we would be discussing about invoice ….


GST Registration Online

  With GST act coming into force, there are still a lot of businesses who have not yet registered for GST tax. Any person who wants to collect GST tax or person might require GST registration to benefit under input tax credit scheme and GST composition levy scheme. In this basics of GST series post we would discuss about how to get your GST registration online. We at The Buzz ….

In this basics of GST post we discuss about eligibility for GST Suvidha providers and its use in gst tax

GST Suvidha Provider (GSP)

  With GST tax coming into effect on 30th June 2017 the government along with the help of other stakeholders has setup a GSTN or goods and service tax network. GSTN is formed with the purpose of providing IT support and IT infrastructure to all the stakeholders involved.  Government of Inia holds 24.5%, other states and UT hold 24.55 and private players hold 51% in this. GSTN is a nonprofit ….

image helps explain basics of GST tax and how can gst registered person benefit by composite levy of gst tax

GST Composition Levy – Eligibility and Application Procedure

    In our previous posts we have been discussing a lot about basics of GST. We would now be discussing about GST composition levy. As we have been hearing about in newspapers and through other media as well that there are an estimated 55 million micro and SME businesses operating in India. GST tax would have an impact on at least 10 million of these businesses. These businesses would ….

This image helps us understand gst tax as a part of THe buzz stand series

GST Input Tax Credit Utilization

In our previous article of basics of GST series we have discussed that GST tax was brought in place to remove the cascading effects of indirect taxes. GST tax is an indirect tax which would replace other taxes from 30th June. It is levied on the basis of value added at each stage. Hence, at each stage there would be an output i.e. goods or services you sell on which ….

This image is a part of article that explains what to do in case of error of GST enrolment process

GST Practitioner Enrolment Procedure

With the new GST tax coming into picture we would be seeing creation of new jobs in the form of GST practitioner. In this post of Basics of GST series, we would be discussing about the roe of GST practitioner and how to enroll for it. With new GST act coming into picture there are around 1 crore business which would come under umbrella of GST and would be known ….

We would be discussing receipt format under gst as a part of basics of gst course

Basics of GST: Calculating GST Payment due

In this basics of GST series article, discussion would be moving around calculating GST payment due from the portal. As we discussed in our previous article as well that the GST tax platform uses 3 ledgers which are Electronic Liability Register, Electronic Credit Ledger and Electronic Cash Ledger for management of GST credit, debit liability, interest, penalty etc. Form GST PMT-01 is used to maintain electronic liability register and it manages ….

HSN code for gst is a part of gst series

HSN Code for GST tax explained

This article is another post by The Buzz Stand team in basics of GST series. This post would help you know the new HSN code for GST registration process. Harmonized System Nomenclature or HSN is a code number which is internationally adopted for commodity description and coding. HSN is developed by World Customs Organization or WCO. More than 200 countries in the world use HSN for the purpose of custom ….

Input Gst tax credit is explaind by the buzz stand gst team

Transferring Input Tax Credit in GST

This article is a part of the basics of GST series by The Buzz Stand where we are trying to educate people about this new GST tax.  The series covers articles from GST registration, GST filing, people who would come under this and various other topics which would help make the audience aware. Almost 80 lakhs businesses have migrated to GST, in anticipation that 1st July 2017 will be the roll ….


Who is Taxable under GST?

Taxable person under GST is anyone who has registered for GST tax or needs to be registered for GST. There are different criteria’s such as business activity, turnover, or transactions which has been specified under the GST Act. Each of these details are compulsory for the person who is registered under GST. Any person who has VAT, Service Tax, or Central Excise on the date of GST will be taxable ….

The article shows the period for gst records retention and why keeping tax records is important

Records to be Maintained under GST

  GST Laws in India state that all those who have registered under GST will have to maintain all the records and accounts in a specified manner. GST records retention has to be for a period of 6 months.  Here is a list of all the records which one has to maintain under the GST: Place of Business Under GST the ‘place of business’ includes: Place where business if ordinarily ….

making gst payment using form-05, form-06

How to make GST Payment and Electronic Cash Ledger Explained

The GST platform which has been created by the Government has 3 ledgers for managing GST payment, liability, input credit, interest, penalty pending, late fee or any other amount which are Electronic Liability Ledger, GST Electronic Credit Ledger and GST Electronic Cash Ledger. The 3 ledgers are used to balance the GST liability, credit and payments pertaining to each of the GST taxpayer. This article would explain the procedure for making ….

Advantages of GST for startups and Disadvantages of GST for startups. Also, explains benefit of GST for entrepreneurs

GST Advantages and Disadvantages

The GST is a comprehensive indirect tax which is going to be levied on manufacture, sale and consumption of goods and services.   The Central Government has brought this act. It will replace all the indirect taxes which are levied from all the points, manufacturing to consumption.  GST is considered a game changer and is being implemented to make the life of people easier. The GST not only helps end ….