Abbreviations

ACCOUNTING

JV: Journal Voucher
CV: Cash Voucher
BV: Bank Voucher
CPV: Cash Payment Voucher
BPV: Bank Payment Voucher
TB: Trial Balance
BS: Balance Sheet
BRS: Bank Reconciliation Statement
D.C: Delivery Challan
P.O: Purchase Order

INCOME TAX

I.T: Income Tax
I.T Returns:  Income Tax Returns
TDS : TaxDeducted at Source
TCS:  Tax Collected at Source
ITD: Income Tax Department of India 
PAN: Permanent  Account Number
TRACES: TDS Reconciliation Analysis and Correction Enabling System 
NSDL: National Security Depository Limited  
TAN: Tax Account Number
IT Dept: Income Tax Department
NIC: National Informatics Centre
LLP: Limited Liability Partnership  

SALES TAX

ST: Sales Tax
VAT: Value Added Tax 
CST: Central Sales Tax
GST: Goods and Services Tax 
TIN: Tax Identification Number 
CTO: Commercial Tax officer
CTD: Commercial Tax Department
AP VAT: Andhra Pradesh Value Added Tax 
TN VAT: Tamil Nadu Value Added Tax
WB CT:West Bengal Commercial Taxes 
TINXSYS:Tax Information Exchange System

OTHER TAXES

ED: Excise Duty
ST: Service Tax CD: Customs Duty
CBSC: Central Board of Excise and Customs 

BANKING

IFSC: Indian Financial System Code 
NEFT: National Electronic Fund Transfer
RTGS: Real Time Gross Settlement
MICR: Magnetic Ink Character Recognition 
PC: Packing Credit
LC: Letter of Credit
PD Cheques: Post Dated Cheques
C.A/c: Current Account
C.C.A/c: Cash Credit Account
P.C.A/c: Packing Credit Account
S.B.A/C: Saving  Bank Account
F.D: Fixed Deposit
D.D: Demand Draft 
T.T: TelegraphicTransfer
BG: Bank Guarantee
FIRC: Foreign Exchange Inward Remittance Certificate
RBI: Reserve Bank of India
NSDL: National Security Depository Limited
L.D.S: Latest Date of Shipment 
G.R: Goods Receipt
U.T.R.No: Unique Transaction Reference Number
KYC :Know Your Customer
NBFC: Non-Banking Financial Companies 
BCSBI: BANKING CODES AND STANDARDS BOARD OF INDIA 

ADMINISTRATION & DOCUMENTATION

POA: Power Of Attorney
SPA: Special Power of Attorney
GPA: General Power of Attorney 
JDA: Joint Development Agreement

IMPORT & EXPORT

IE Code: Import and Export Code
LDS: Latest Date of Shipment
B.L: Bill of Lading
SB: Shipping Bill
CD: Customs Duty 
FIRC: Foreign Exchange Inward Remittance Certificate
EPCG: Export Promotion Capital Goods
C.A.D: Cash Against Documents
F.O.B: Free On Board
C.I.F: Cost Insurance Freight
C.N.F: Cost and Freight 
D.D.P: Delivered Duty Paid   
L.D.S: Latest Date of Shipment 
G.R: Goods Receipt
E.V.D: Export Value Declaration