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What is LUT in GST?

Letter of Undertaking is the LUT full form in GST. This is a paper manufacturer could use to pay less tax on merchandise they...

Definition, Format & Example of Comparative Balance Sheet

The comparative balance sheet provides the information side-by-side about an organisation's liabilities, assets and Equity of shareholders at various times in time. It shows...

Know What are Blocked Credits Under GST

Input tax is levied on any provision of products or services, or both, that are used or planned to be utilised in the conduct...

GST ITC-04 Form: Format and Procedure to File It

The government charges GST, or the goods and services tax, on products and services sold domestically for consumption. The final price of a commodity...

What is Input Service Distributor (ISD) Under GST?

In this article, we will discuss in detail the meaning of an input service distributor (ISD). An input service distributor is an authoritative officer...

All About Invoice Reference Number (IRN)

E-invoicing refers to an innovative reform that involves the creation of invoices using an electronic format. The GST Council created electronic invoicing to facilitate...

Interest Imposed by the Income Tax Department: Section 234B

All law-abiding citizens pay taxes. These taxes vary from advance tax and TDS to self-assessment tax, among others. When you default on paying advance...

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