Glossary

Indian ERP, GST & HR — every term defined.

Plain-English explanations of the 55+ acronyms, codes and concepts you'll encounter running an Indian business. Written for owners and finance teams, not lawyers.

GST & Compliance (17)

Central GST(CGST)Component of GST levied by the Central Government on intra-state supply of goods or services.
E-InvoiceElectronically authenticated B2B invoice with an IRN and QR code generated through the GSTN Invoice Registration Portal.
E-Way BillElectronic document required for the movement of goods of value above ₹50,000 between locations under GST.
GSTINGoods and Services Tax Identification Number — the 15-character unique ID assigned to every GST-registered entity in India.
GSTR-1Monthly or quarterly return of outward supplies (sales) filed by every regular GST taxpayer in India.
GSTR-2AAuto-drafted, dynamically-updated statement of inward supplies, generated from suppliers' GSTR-1 filings.
GSTR-2BStatic, monthly auto-drafted ITC statement that is the legal basis for input tax credit claims in GSTR-3B.
GSTR-3BMonthly summary return where GST taxpayers declare total tax liability and pay GST in India.
HSN CodeHarmonized System of Nomenclature — globally standardized 4-to-8 digit code identifying a product for GST classification.
Input Tax Credit(ITC)GST paid on business inputs that can be set off against GST collected on outputs, reducing net tax payable.
Integrated GST(IGST)GST levied on inter-state supplies and imports, collected by the Centre and apportioned between Centre and states.
Invoice Reference Number(IRN)64-character unique hash assigned by the IRP to authenticate an e-invoice.
Invoice Registration Portal(IRP)Government-authorized portal that validates and registers e-invoices, issuing IRN and QR code.
QRMP SchemeQuarterly Return Monthly Payment scheme allowing GST taxpayers with turnover up to ₹5 crore to file GSTR-1 and GSTR-3B quarterly.
Reverse Charge Mechanism(RCM)GST liability where the recipient (not the supplier) pays GST directly to the government.
SAC CodeServices Accounting Code — 6-digit code identifying a service category for GST classification (the services equivalent of HSN).
State GST(SGST)Component of GST levied by the State Government on intra-state supply of goods or services.

Indian ERP, GST & HR — every term defined.

GST & Compliance (17)

HR & Payroll (11)

Finance & Accounting (8)

Operations & ERP (6)

Inventory & Manufacturing (13)

Indian ERP, GST & HR — every term defined.

GST & Compliance (17)

HR & Payroll (11)

Finance & Accounting (8)

Operations & ERP (6)

Inventory & Manufacturing (13)

Command Palette