Goods & Service Tax (GST)

Late filing attracts ₹50 per day (₹25 CGST + ₹25 SGST) for taxable returns, and ₹20 per day for nil returns, subject to a maximum cap of ₹10,000. Interest at 18% per annum applies on outstanding tax liability.

ITC lets businesses offset GST paid on purchases (inputs) against GST collected on sales. Proper GSTR-2B reconciliation ensures supplier compliance before claiming credit. Curioup's ITC optimisation service maximises your monthly credit utilisation.

GSTR-1 is a detailed statement of outward supplies (sales invoices) filed monthly/quarterly. GSTR-3B is a self-declared summary return used for tax payment. Mismatches between the two can attract audit scrutiny and ITC reversals.

GST refunds can be claimed for: zero-rated exports, inverted duty structure, excess tax payments, and ITC accumulated on exempt supplies. Applications must be filed within 2 years. Curioup handles end-to-end refund applications with 95%+ approval rate.

E-invoicing requires B2B invoices to be authenticated by the GSTN Invoice Registration Portal (IRP). Businesses with annual turnover above ₹5 crore must generate e-invoices. It auto-populates GSTR-1, reduces fake invoices, and is mandatory for government suppliers above ₹10 crore.

HSN (Harmonised System of Nomenclature) is a 6–8 digit standardised code classifying goods for GST purposes. Businesses with turnover above ₹5 crore must use 6-digit HSN codes in invoices. Correct HSN determines the applicable GST rate and avoids notice issuances.

GST registration is granted within 7 working days when all documents are error-free. If the officer issues a Show Cause Notice (SCN), it may extend to 30 days. Curioup ensures document accuracy for first-time approval, eliminating back-and-forth delays.