MEANING OF CIN ,CPIN, E-FPB

Hello Readers,

There are some frequently used terms in GST though heard many times but still we do not have complete knowledge about them. Let’s have glance on three such terms related to GST Payments

1. CPIN

CPIN stands for Common Portal Identification Number (CPIN) given at the time of generation of challan. It is a 14-digit unique number to identify the challan. The CPIN remains valid for a period of 15 days

READ MORE AT http://akvassociate.com/blog/2017/04/29/meaning-of-cin-cpin-e-fpb/

GST COMPLIANCE RATING

According to Section 149 of GST Act ,2017:-

Trade and industry will be assigned a ‘compliance rating’ based on their credibility with regard to timely deposit of taxes to the exchequer and filing of returns under the goods and services tax structure.

A system of GST Compliance Rating will be put in place so that every trader or businessman will be rated based on their track record.

Once the rating is made public on the GSTN portal, a businessman can decide on whether to deal with another trader or entity who does not deposit tax with the government and therefore, has a low compliance score.

READ MORE AT - http://akvassociate.com/blog/2017/04/28/gst-compliance-rating/

ABBREVIATIONS AND THEIR FULL FORMS IN GST ACT, 2017

1) AA             Appellate Authority

2) AAAR        Appellate Authority for Advance Ruling

3) AAR           Authority for Advance Ruling

4) ARN           Application Reference Number

Read more at http://akvassociate.com/blog/2017/04/26/abbreviations-and-their-full-forms-in-gst-act-2017/           

COMPOSITION LEVY UNDER GST ACT, 2017

1. ELIGIBILITY TO OPT FOR COMPOSITION SCHEME

Read more at  http://akvassociate.com/blog/2017/04/17/composition-levy-under-gst-act-2017/

SCOPE OF SUPPLY IN GST 2017, (FLOWCHARTS)

FOR THE PURPOSE OF THE ACT, SUPPLY INCLUDES

FOR FULL ARTICLE READ AT  http://akvassociate.com/blog/2017/04/14/scope-of-supply-in-gst-act-2017/