17 Important Abbreviations Related to GST


GST implementation mandated registration for certain persons.

There are some abbreviations one has to be aware of at the time of registration.

The following is a curated list that one can refer to anytime. Not only for the registrants, but also anyone who is interested in knowing the details of GST.

Related: What is GST - Details of GST explained in Simple Terms



Following are the 17 Important terms and abbreviations necessary for us to be aware of

  1. ARN - Application Reference Number
  2. CBEC - Central Board of Excise and Customs
  3. FLLP - Foreign Limited Liability Partnership
  4. GST - Goods and Services Tax
  5. LLP - Limited Liability Partnership
  6. OTP - One Time Password
  7. VAT - Value Added Tax
  8. CGST - Central Goods and Services Tax
  9. IGST - Integrated Goods and Services Tax
  10. SGST - State Goods and Services Tax
  11. UIN - Unique Identity Number
  12. UTGST - Union Territory Goods and Services Tax Act
  13. SEZ - Special Economic Zones
  14. ISD - Input Service Distributor
  15. CTP - Casual Taxable Person
  16. AOP - Association of Persons
  17. BOI - Body of Individuals
Didn't find a particular abbreviation related to GST or know of another abbreviation that is not listed above? 

Please let us know in the comments below.



Comments

Post a Comment

Popular posts from this blog

GST Certification Course From Lucknow University

Image
With the GST talks going around the country, colleges and universities are also coming up with various courses. One such is the Lucknow University which is coming up with a 6-month certification course on GST. As per this source, application forms will be available from August 2017 first week. Since the tax regime has changed in the country, the officials from the university had decided that students too should equip themselves with the latest and the greatest. The decision by the concerned officials to introduce GST as a subject in Commerce and management studies were taken on July 6th. Source: http://indianexpress.com/article/education/lucknow-university-gst-course-six-month-certificate-course-on-goods-service-tax-introduced-in-uttar-pradesh-4742024/
Read more

Here's How to Find GST Rate for Any Goods or Service

Image
You probably already know GST is effective since July 1st, 2017. But what if you are a seller or an informed buyer who is keen in knowing the GST rate for every kind of product out there? [Infographic] GST Rates Cheatsheet Thanks to this online GST rate checker. You can simply type a product type (not the brand name) or the services type and can immediately get the GST Rate displayed on the screen. Here's how you can get the GST rate for any goods or service Goto this site:  https://www.indiafilings.com/find-gst-rate Select the drop-down to choose 'Goods' or 'Services'. Begin typing to find goods or services. For example, I typed Stationary . You can see that the search bar displays suggestions automatically as we type. Hit the ' Search ' button. How to find the HSN Code along with GST Rate for a Goods or Service You could also browse by HSN code ( Harmonized System of Nomenclature ) categories given at the bottom of the site. It's a search by selection ...
Read more