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Frequently Asked Questions

What is full form of GST?

GST stands for “Goods & Services Tax” and as the name itself explains, that the tax is imposed on goods and services.

Import Export Code registration is a process in which a business obtains a “10-digit code” for import or export of certain kinds of goods and services. This code is circulated by the “Director General of Foreign Trade, Ministry of Commerce and Industries, and Government of India”.

Income Tax Return is the form in which an assessee files info regarding his/her income and tax, to the Income Tax Department. The various forms for this purpose are “ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7”.

Documents required for “MSME Registration” are “A business address proof, copies of Sale Bill and Purchase Bill, partnership deed and copy of licenses and bills of machinery purchased”.

TDS is a certain amount which is deducted from payments of different kinds such as “salary, contract payment, commission, etc”. This deducted amount can be balanced against the tax by the “deductee”.
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